Are NFTs the future of digital assets, and how could Typerium benefit within this space…

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It’s been quite a while since the blog has been updated, and your patience is massively appreciated. As some of the regular typerium followers will know, the last 15 months has been a rollercoaster ride in the development of our application (an exciting one, but bumpy at times) hence why we have been very quiet on the social media front. However, we’re delighted to announce that we did successfully launch version 1 of the Typerium platform on the iOS Apple store back in late December, 2020. Since then we have noticed the emergence of NFTs (non-fungible tokens) and have been asked our opinion on this craze on many occasions.

The concept of NFTs specifically isn’t necessarily a brand new one, and would have seem to have originated out of Japan with the past successful launch of CryptoKitties, a “tamagotchi” style marketplace that allowed you to collect and breed virtual cats. A lot of questions are still up in the air with the introduction of the NFT market specifically, and especially in relation to how fast this emerging sector has taken off.

One of those unanswered questions specifically is in relation to intellectual property and copyright. From our own research it would appear that no NFT marketplace currently is providing a way to completely authenticate the originality of a users creation, which as you can imagine could pose some serious problems. With 3D animated digital models of Lamborghini’s, Sony Playstation’s, and other popular culture based iconography selling for hundreds of thousands of dollars, it’s more than likely at some point lawsuits will arise if that content does not specifically have license agreements in place between the creator/seller and major brands such as Lamborghini, and Sony.

Unfortunately, that doesn’t seem to be the only issue. With the popularity of NFTs gaining a huge amount of traction and press coverage in recent weeks, it also appears a sea of “creators” who are simply taking other people’s content and selling it have also emerged, this causing yet another secondary problem for the future of this market.

So what does all of this have to do with Typerium, and more importantly how could this benefit Typerium?

Well… this is where our current platform and future plans really come to light. Firstly, the Typerium platform will allow you to create digital content in seconds without any previous design experience. Secondly, our future development plans are to combat the issues above specifically, which is to authenticate the creation of content for a user by assigning that content to them on the blockchain, thus providing a clear certification of authenticity and ownership. This undertaking will allow users to “prove” the digital content they have created, truly belongs to them and no one else. This is the power of our idea we started formulating plans for almost 2 years ago now.

Given the huge rise in popularity of NFTs, we are also assessing whether or not we integrate this into our platform in the future to potentially look at two sides of the market, one being the consumer/corporate side of the market for individuals, business owners, and brands. The other potential side we are discussing currently within the team (nothing confirmed yet) would be to integrate and develop a NFT based marketplace into the platform that allows users to both “create” and “sell” unique digital content as one of items, or limited edition runs. Given we already have the technical specification for content-creation in place on our platform (which the current NFT marketplaces don’t) it feels like it could potentially be a good fit. The entire concept of NFTs is an extremely interesting market, and with a lot of thought and hard work some of the huge issues outlined above could be rectified, which would result in a transparent marketplace and platform where no issues around piracy, intellectual property, or copyright would exist.

A very exciting time within the space none the less, and thank you for reading. Keep checking back with Typerium on our social media channels, blog, and on our Telegram for future updates…

By Alex Haigh  |  March 29, 2021.