📍Background

LumiWave is a blockchain platform for IP(Intellectual Property) based contents.

Problems in IP business

IP Owners

Currently, most IP business and licensing deals are conducted privately. As a result, IP owners have difficulty assessing the appropriate IP valuation. Also, there are many problems with regard to fundraising and expanding IP businesses into various fields. Using blockchain technologies and expanding their business based on this new market can lead IP owners to have more chances to connect with diverse business possibilities worldwide and remotely to let more users join their IP.

IP Users

IP usage conditions and licenses are sometimes overvalued because of less accessibility and the transaction process can be unclear because the IP market does not have an efficient and clear valuation structure, which can be an obstacle for small and medium content producers and new IP users to enter the market with potential. There are no borders within the IP industry, but expanding IP businesses abroad still remains challenging due to a lack of accessibility and shared standards for valuation.

IP Business and blockchain

IP (Intellectual Property) is an intangible form of property that enables you to realize values that cannot be measured with physical scales. For the last ten years, the value of IP in the global business industry has been steadily growing, especially in the gaming and video content industry. IP has key value in the gaming industry because many enterprises are using IP due to the fact that utilizing IP that is familiar to the public can lead to a much more successful new gaming service. Mobile games with the most revenue have been produced based on an existing online game IP, and most of the IP-based games have higher sales than those that are not. The same goes for the global market as well. Under such precedented cases, IP utilization is expected to be accelerated in the future. IP exists in an intangible form and has permanent value. This is why IP should be globally accessible and increasing in value as it is more widely recognized and frequently used by more users. Under this virtuous circle, IP-based games or content become successful, and the market value of the IP increases. The more the IP is used, the bigger the value it carries. In a nutshell, IP business is seeking a way to expand their usages and users for bigger value, and blockchain content accessible worldwide can be a chance for a new market.