Quick Take
Elastos pioneers Web3 innovation with Elacity DRM, empowering creators to regain control and monetize their content directly. This decentralized DRM tool offers secure, user-owned digital assets, revolutionizing the digital content landscape and challenging traditional Web2 models.
Elastos Unveils Elacity DRM Tool for Web3, Paving the Way for Creator Empowerment
In a bold move towards revolutionizing the digital content landscape, Elastos today announced the launch of Elacity’s Digital Rights Management (DRM) tool, Elacity DRM. Focused on video content, this tool aims to transform the way creators, artists, and content producers interact with their audience while ensuring the protection of their intellectual property in a decentralized manner.
Web3 Is Transforming Digital Rights Management
Web3, often hailed as the next evolution of the internet, brings with it promises of decentralization, ownership, and direct peer-to-peer interactions. One key aspect of this transformation is the realm of Digital Rights Management (DRM), which has traditionally been marred by centralized control, intermediaries, and revenue-sharing models that often disadvantage content creators. Elacity DRM aims to change all that.
Elacity’s Access Economy Protocol (AEP) is at the heart of this endeavor, combining Non-Fungible Token (NFT) technology with decentralized DRM. This fusion allows user-owned content to be shared, monetized, and resold with defined scarcity, all while ensuring that creators retain control and revenue from their creations.
Empowering Creators and Redefining the Content Landscape
The Elacity DRM tool operates on the Elastos Smart Chain (ESC), making it Ethereum Virtual Machine (EVM) compatible. Creators will gain access to this revolutionary tool starting January 2024, following a successful trial phase that began late last year.
At its core, Elacity DRM leverages blockchain technology to create encrypted digital capsules linked to the creator’s identity. These capsules become blockchain-logged assets, owned by the individual and shareable within their digital networks. Content access is regulated by access token rights purchased directly from the creators’ smart contracts, and an innovative runtime player ensures secure playback on consumers’ devices.
This groundbreaking approach allows creators to market, promote, and monetize their content directly to their audience, bypassing the need for intermediaries and the associated fees. It’s a game-changer for artists and content producers who can now retain over 95 percent of their revenue, compared to the 30 to 55 percent often retained by traditional Web2 platforms.
Future expansion plans for Elacity DRM include support for audio-only formats, documents, gaming, and software capsules in 2024. This expansion aims to empower creators across various content domains, providing them with the means to unlock the true value of their work.
A New Layer 2 Access Economy: The Future Integration
Elacity’s DRM tool also paves the way for integration with Elastos’ BeL2 Bitcoin Layer 2. This integration will not only enable smarter Bitcoin transactions but also offer more user-friendly inscription transactions, ushering in a new Layer 2 access economy.
Elacity CEO, Sasha Mitchell, emphasized the mission of Elacity to revolutionize the creative landscape. She stated, “In the Web2 world, centralized DRM has orchestrated a creative heist, stripping creators of their rightful control and revenues. Elacity’s mission is to revolutionize this creative brain drain.”
Empowering Creators in the Web3 Era
By focusing on user-owned markets and leveraging blockchain and decentralized technologies, Elacity DRM is restoring fairness and creativity in the digital realm. Interoperability across the web is ensured through Elacity’s Access Economy Protocol, which manages access tokens, royalty tokens, and distribution tokens. This protocol places content creators and their networks in control of their content’s commercialization and distribution, creating not just content markets but also royalty markets.
Furthermore, Elacity’s collaboration with standard bodies such as MPEG ensures that the benefits of Web3 interoperability are realized for both content creators and consumers. This integration bridges Web3 and traditional Web2 contractual agreements, facilitating a seamless transition into the future.
Dr. Xin Wang, Senior DRM Advisor, highlighted the significance of this protocol, stating, “It ensures interoperability with existing smart contracts and license enforcement when integrating with prevalent Distributed Ledger Technology (DLT) and DRM systems. Its embrace of content creation, distribution, and consumption in emerging Web3 environments makes it unique and innovative.”
Jonathan Hargreaves, Global Head of Business Development & ESG at Elastos, sees this partnership as a glimpse into the creative and economic potential of the future. “This new Access Economy has the potential to revolutionize not just the video streaming industry but also music and online gaming sectors,” he said, marking the deployment of a true SmartWeb.
Elacity DRM represents a significant step forward in the ongoing transformation of the digital content landscape. By empowering creators, providing direct access to global audiences, and ensuring fair compensation, Elastos is at the forefront of shaping the Web3 era. The launch of Elacity DRM heralds a new era of creative empowerment and decentralization in the digital realm.
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