Mirror IP

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Problem Statement

Imagine that you have a valuable NFT: Cool Cat, Azuki or Bored Ape. Right now, you have no options to make profits on it except speculative game, buy low, sell high. But the market changes rapidly. A few months ago, Coinbase decided to make cartoon series named Degen Trilogy with Bored Apes NFTs. They were looking for Bored Ape owners to sign the contract with each of them independently to use their intellectual property rights for Bored Apes. It’s super slow and not scalable. So we decided to make an infrastructure solution that will allow connecting owners of valuable assets and creators with ease.

Solution

Our solution uses a set of smart contracts and frontend dapp prototype for them. We backed in mind programmable cashflow using SuperFluid, cross-chain communication between Ethereum, Polygon, and Optimism using Abacus, and dispute resolution protocol provided by UMA. We have 2 few major roles: owner of valuable NFT and borrower. First, NFT owner:Opens our marketplaceAuthorizes using their walletShares their NFT to marketplace, sets the price and provides usage guidelines Next, let’s see how it looks for the Borrower:Opens marketplace, choose NFT that he or she likesAgrees with guidelines and signs the contract, and gets wrapped NFT Then, the borrower mints an NFT with derivative content When the derivative sells, royalties will be paid to everyone, including owner of original NFT.