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Introducing Elacity Digital Rights Management (DRM): An NFT-powered Digital Content Platform on Elastos
Already well established as an Elastos-native web3 cloud city on Elastos Essentials with an array of popular NFT collections, Elacity has initiated development of a powerful, first-of-its-kind Digital Rights Management (DRM) platform. In addition to integrating every element of the Elastos tech stack, Elacity’s DRM platform will leverage NFTs to support a wide range of use cases for digital content ownership and revenue generation. And of course, the platform will live and operate exclusively on Elastos, and with the aim of driving adoption of Elastos technologies by attracting new users, community members, and stakeholders to the ecosystem.
The Right Team (and Supporting Cast) For the Job
In addition to strong community approval and positive attention on social media, Elacity’s core team has already received a great deal of support and commitments from notable figures within and beyond the Elastos ecosystem.
- Cyber Republic: Elacity successfully passed Proposal #91 through Cyber Republic Consensus (CRC), with a unanimous 12 votes in the affirmative from Cyber Republic Council members. Remaining in line with CR’s milestone-based funding model, the Elacity team will only receive funds after presenting substantial deliverables representing more than 6 months of work.
- Rong Chen: The Elastos Foundation (EF) co-founder offered early-stage advisory, and has committed to providing ongoing advisory on biweekly strategy calls.
- Dr. Xin Wang: A leading expert in building existing DRM systems currently employed by governments and prominent web2 companies, Dr. Wang has also committed to contributing his experience and expertise in biweekly strategy calls.
- Sash Mitchell: As a long-time Elastos community member, CR Council member, and team lead at international business development hub Elastos Orchard, Sash will draw on his deep ecosystem experience and network to drive development and make strategic decisions as the Project Lead for Elacity’s DRM platform.
The Mission: DRM Meets Elastos and web3
As many in the web3 space are well aware, Digital Rights Management is a mess on the internet we rely on today – that is, in the world of web2. Users must resort to clunky membership models to generate revenue for their content, click bait thumbnails to attract traffic to their websites, and worst of all, massive content hosting platforms that make billions from ads and pay out a small fraction of their revenue to the content creators who provide real value. Digital Rights Management is a digital native industry that is perhaps more ripe for innovation and recalibration than any other. But blockchains and smart contracts only make up a piece of the larger puzzle. Decentralized storage, distributed content hosting tools, rails for stream pay, and other DeFi legos all need to interoperate to make DRM a reality in web3.
Fortunately, as far as the broader web3 vision goes, Elastos has more pieces to the puzzle than any other ecosystem in the web3 space – it’s just missing a killer app. Elacity’s vision is twofold:
- To build out an NFT-powered video sharing platform that provides a competitive user experience and unrivaled payouts to content creators;
- To integrate every element of the Elastos tech stack to prove its viability, attract new users to the Elastos ecosystem, and drive adoption of Elastos-native applications and platform services.
Putting the Pieces Together on Elastos
The Elacity team has already shared plans to leverage each element of the Elastos tech stack.
- Elastos Smart Chain (ESC): Elacity’s DRM platform will live on the ESC, and will utilize its smart contract modules to facilitate exchange and other critical operations.
- Elastos DID: Users will be able to log in and interact with the DRM platform and their personal Data Vaults using their Elastos DIDs.
- Hive: With Hive’s decentralized storage solution, users will be able to determine where they store their encrypted video NFTs in Hive Vaults.
- Carrier: Elacity will leverage Carrier 2 to enable peer-to-peer (P2P) file sharing between user Data Vaults on its DRM platform.
The Big Picture: What DRM Can Become
In the domain of Digital Rights Management, video sharing and streaming is a mere sliver of the enormous pie of content and data that is to be generated, shared, and most importantly, monetized in the web3 era. An NFT-powered video sharing platform is merely a pilot application for Elacity’s DRM platform – albeit a robust and potent one.
In the months and years ahead, Elacity plans to develop a smart city portal from which users can access its DRM platform in a single click to generate, distribute, and monetize content of all kinds, including:
- Media: Audio, video, images.
- Software: Games, operating systems, applications.
- Documents: Statements, financial records, IP assets, patents, blueprints.
- IoT: Lightbulbs, automobiles, 3D printing, kitchen appliances, locks.
- eBooks: Online libraries, stores, subscriptions.
Here’s the bottom line: for the Elastos ecosystem, Elacity, and DRM in web3, the future is bright – and that’s for both the near-term and long-term. To stay abreast of all the latest with Elacity and its forthcoming DRM platform, make sure to stay tuned here on the official Elastos Info Blog.