Fractional Licensing of Patents using Non-Fungible Tokens.

Currently working on fractional licensing of patent using NFT. Basically, this means, you have a patent and you want to license it by way of a NFT. But this license is limited to a fixed number of unique NFT allowing the holder/owner of the NFT access to a unique licensing agreement embedded therein, transferable at will, and limited to the net-sales value of X. As I said because this is a fixed number of NFTs, should the licensed product be successful, there will be demand for these NFT driving its value. If it is not successful these NFT’s value goes to zero. The important economic benefit here is that the licensor can offer this NFT easily with set terms that are fair to patentee or licensor and the licensee. The licensee knows exactly the limits of the licensing agreement. I provide services for creating your own NFT and the license attached with this (also posted on IPFS so to ensure immutability) for a fixed price. Note most marketplace (say opensea) providing NFTs (on the Ethereum blockchain with a link to the art on website) provide a generic license (for the copyright of the art) which is not the same or applicable for Patents. Of course, NFT can be used for Wills or Testamentary documents (to prove content as at a date and time like stamping) although Courts have yet to rule it as “evidence” as it is customary to file an “original” (best evidence rule).  There are also other considerations, if you like to know more you can contact email (info at khkwan dot com) And to prove what I said is what it is, here is a link to ropsten (which is a test net for ethereum) to show that I have created a NFT (unique as it is number 3) and is linked to an external website in this case a vimeo video.

https://ropsten.etherscan.io/tx/0x9e6cab71a6dc4dd55454efd793e487ed05cee9dab165598a0b3044d1e6ef5a1a

I have zoomed for you below

and at the bottom, you need to click to see more and then decode

Basically, this NFT is unique as it has identifier “3” and with data link to a license (in this case I have used a vimeo website but it can be any external link including IPFS which I preferred.