The future of IP is constantly changing, especially as consumers grow more comfortable with non-fungible tokens (NFTs). In fact, NFTs have a predicted market cap of $26 billion by the end of 2022 and $146 billion by 2025. If companies don't understand how to use their IP assets to mint NFTs effectively or what to look for when investing in an NFT, there is a chance of missing out on potential revenue.
But earning profits from this new revenue stream doesn't need to be hard. In this position paper, we share how you can take advantage of NFTs by knowing the risks, risk avoidance strategies, and best practices.
In this position paper, industry experts discuss:
- The pitfalls and opportunities for NFTs within intellectual property operations
- How companies are already finding opportunities to generate revenues through the issuing of NFTs, such as Warner Bros. who netted an additional $5 million by issuing 100,000 Matrix NFTs at $50 each
- How NFT issuers can use the tokens as smart contracts for IP, allowing it to be licensed, sold, and commercialized in new ways, unlocking previously untapped value