Blockchain technology presents a unique opportunity to leverage NFTs and decentralised secondary markets to enable the management of data rights. Autonomous tracking, enforcement and monetisation are made possible through DIA’s Autonomous Rights Tokens.
Using NFT embedded data rights, regulators, data sources and distributors can easily track who used which data, when and under which right.
Access to data rights is no longer restricted to centralised gateways. Anyone can acquire or trade rights on secondary markets.
Distributed data rights management enables any holder of ARTs to participate in the ART pools generated by the usage of DIA’s data oracles.
Using NFTs to store, track and enforce data rights enables fully decentralised life cycle management for licenses, from creation across distribution to tracking and monetisation.
Data sources can claim and manage ‘Source ARTs’ (sARTs). sARTs define the parameters of ‘Data ARTs’ (dARTs). Smart contracts that want to use DIA data oracles will be required to hold a dART in the contract, which they can autonomously mint.
Anyone can mint ARTs by contributing to the ART pools. Contributions for any given dataset are collected in a pool, claimable by data sources and holders of ARTs.
Early minters will have a higher access to the pools. This way, ARTs not only provide an autonomus pool architecture, but create an incentive to source new data.
To incentivise the sourcing of new datasets and early adoption, the first ten ARTs per dataset will be ranked.
Ranked ARTs have a higher claim on the ART pool than unranked ARTs.
To mitigate gas fee frontrunning, the first ten ARTs for each dataset will be distributed randomly.
Once all ranked ARTs for a given dataset are minted, minting of unranked ARTs is open to anyone.
Unranked ARTs also participate in the ART pool.
The claim on the ART pool is determined by the position among all ART minted for a dataset.
DIA ARTs will be mintable on third party platforms like OpenSea once the initial genesis campaign is over.
DIA ARTs will be tradable the same way as any other NFT, via secondary markets or OTC.
Beware that depending on the platform, additional fees may apply.