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The process of minting IP Tokens from an IP-NFT. |
{% embed url="https://www.loom.com/share/f35771c266dd4159832853c5e93cc117" %} Creating IPTs from an IP-NFT on testnet. {% endembed %}
The Tokenizer is a smart contract enabling IP-NFT owners to create a tailored IPT ERC20 contract. Think of it as a cryptographic key that unlocks fractional rights associated with an IP-NFT - a significant stride towards a future of decentralized IP management.
The Tokenizer is a smart contract that mints IPTs from an IP-NFT. IP-NFTs are processed through the Tokenizer to produce IPTs, marking a transformative step towards a decentralized future of IP management.
IPTs have various functional groups; they can effectuate distributed governance, grant access to privileged and proprietary data, and IP licensing. Though these reactive capacities aren't necessarily inherent to all IP-NFT contracts, they can be configured via IPT-weighted governance. Much like how researchers experiment with many molecules to discover cures for a particular disease, IPTs are meant to be experimented with to discover the cure for apathy and scientific stagnation.
By executing the Tokenizer:tokenizeIpnft function, an IP-NFT owner initializes the creation of a new IPToken ERC20 contract with an initial supply. This is akin to sparking a digital forge, producing a minimal clone of the current IPToken implementation and appointing the Tokenizer contract as its owner. It's the conductor leading the symphony of code.
An IPToken contract's owner has the authority to mint an arbitrary supply of IPTs via its issue function. However, token holders need to be aware of possible dilution at the discretion of the IP-NFT holder - it's a little like adding water to a concentrated solution. New emissions are managed by the governance layer overseeing the multi-signature wallet retaining the IP-NFT.
An original owner can designate a IPTs contract as capped, effectively disabling an further increase of supply. This condition can be queried by other clients, like a potential sales share distribution contract for that token.
While the initial distribution of IPTs to other accounts falls outside the Tokenizer's remit, IPT holders retain the freedom to transfer their tokens at will and without any charge.
For certain privileges, IPT holders might need to agree to a legal document provided during the tokenization transaction. Stored as IPFS CIDs within their Metadata structure, these agreements, while not intrinsic to IPTs, act as legal guardrails enforced by other system components, such as the TermsAcceptedPermissioner.
And there you have it, a sophisticated fusion of technology and law, setting the stage for a more democratic and accessible future in IP management.
{% hint style="info" %} The Tokenizer contract is deployed on
mainnet: 0x58EB89C69CB389DBef0c130C6296ee271b82f436
görli: 0xb12494eeA6B992d0A1Db3C5423BE7a2d2337F58c
{% endhint %}