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Token economy

What kind of income could I make with Marylin’s photos that wouldn’t be so easy without NFTs?

Continuing with the previous story…

… Let’s imagine that today I am convinced that the market is ready to buy the following uses of Marylin’s photo:

  1. I want to give the right to use the photo to a customer for private use and then he can’t distribute it to anyone else for a one-time fee of $1.00 for an unlimited time.
  2. I want to grant the right to use the photo only to non-profit organizations until July 29, 2024 for a one-time fee of $2.00. After this date, the price will be $0.01 per unit for each additional distribution.
  3. I want to grant the right to use the photo for resale at a 1.2% commission on each sale until I raise $1,500.00. On subsequent sales, the percentage will rise to 2.5% until $10,000.00 is collected. For further sales I will receive the percentage of 2.9% until December 31, 2025.
  4. I want to grant the right to use the photo for commercial purposes to one person with a one-time fee of $3,550.00, who can only distribute it through a specific smartphone APP.
  5. I want to grant the right to distribute the photo only within the Facebook network, getting in return $0.0001 for each view but only until July 13, 2024. After that date, Facebook will have to block any further distribution.
  6. I want to grant the right to use the photo only to members of a community whose names are registered on a particular web page. With the obligation that each photo has the following caption “courtesy of the owner”.
  7. I wish to grant the right to use the photo only at an event for a one-time fee of $234.00.

In short, the limit of possibilities comes only from my creativity and my ability to find business models that are successful in the market and that I have the necessary technical skills to describe my business models in algorithms that can be executed by a program software called “smart contract” which is able to verify who evades the rules and verify any other contractual clause provided for by the contract itself.

When the algorithm will discover who, when and how the clause has not been respected, the program itself could take the retaliatory actions already contained in the contract such as, for example

  1. notify the recipients of the illegally received photo by e-mail
  2. modify the agreements, terminate them according to the terms of the contract.
  3. launch tweets to denounce those who have not respected the agreements.
  4. insert the name who has not complied with the clauses in a web blacklist which lowers his reputational scoring which will damage him if he intends to sign other contracts.

This new type of economy takes the significant name of “Token economy”.

Last Updated on April 27, 2024 by admin

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Last Updated on April 27, 2024 by admin