NFT and IP valuation of OSS

NFT is an interesting term nowadays, I first interacted with this creature when I was playing around on Gitcoin. These are “Kudos” on the Gitcoin community where you can create and share your Kudos with each other. In more technical terms these Kudos are called collectibles which are also a form of non-fungible tokens. They are basically a form of “art” which you gain by playing some interesting quests on “Gitcoin Platform”.

A non-fungible token (NFT) is a unit of data on a digital ledger called blockchain, where each NFT represents something unique item, that can’t be interchanged.

NFT can also be a tweet, audio, video anything that represents creative work. I have some of these collectibles (Kudos) check them out @devilla.

Celebrities from Lindsay Lohan to NFL’s Rob Gronkowski are in on this NFT adrenaline rush.

You can also trade the NFTs on a marketplace over Ethereum called OpenSea: Buy Crypto Collectibles, CryptoKitties, Decentraland, and more on Ethereum. Here you can use an Ethereum based crypto wallet to sign in and trade collectibles.

We at Muellners are also doing something which is a combination of both the above platforms using the Avalanche platform. On Avalanche Exchange Chain (X-Chain) you can actually create your own collectibles, mint as many as you want, and transfer them across the platform using our Finscale Wallet.

Finscale Wallet on Avalanche

Now, let’s talk about what else is already happening on Open Source. OSS is mostly funded through grants, donations, and quadratic contributions.

Open Source IP doesn’t belong to anyone it’s not a “copyright” but a “copyleft”.

I think NFTs in Open Source would work fine, maybe outperform the expected. NFTs can be said to be internet native Intellectual Property (IP).

Yeah, actually if someone actually wants to gain ownership of an Open Source Software and increase its value so this can be facilitated using NFTs.

IP valuation of OSS is important or say the necessity today. We know good software created in Open Source die or lags behind due to lack of IP valuation. Also, I think something like blockchain or say the internet is built in a time of great urgency where the economy is screwed.

If NFTs can create value for open source software even in this Covid situation where times are tough and the economy is down the drain we should appreciate it. If we support smart intellectuals that can alter the course of history or say build a better world, we should listen to them.

Blockchain Dev. @ Muellners