Chris is still an active part of the fintech & crypto community. He specializes in advising on blockchain systems, regulatory requirements & business plans for crypto-currency launches.Focusing on business generation and key account management, he currently acts as founder and CRO of BitGaming, a comprehensive front and back-end gaming platform for crypto brands.
One of his latest projects is a partnership with VC David Namdar. David is an experienced investor and entrepreneur, co-founder of Galaxy Digital and the company’s Head of Digital Assets. David Namdar has 14+ years of international business and financial markets expertise, having worked with a variety of companies ranging from start-ups to major multi-nationals. Moreover, he has significant expertise across digital currency investments, fintech, e-wallets, and blockchain technology, among other emerging and breakthrough technologies. He has been proven skilled at investing in private and public shares, derivatives, and foreign currencies, as well as using basic and quantitative analysis to make worldwide investments.
Their new joint venture is called ‘Blockzone’, which works similarly to an ICANN for non-fungible tokens (NFTs) – it will log who owns NFTs and make it possible to transfer ownershipsafely and securely.
A blockchain-verified NFT is a digital asset which represents real-world objects like art, music, in-game items, and videos.They are designed to give you something that can’t be copied: ownership of the work. They are traded online, frequently with cryptocurrency, and they are generally encoded with the same underlying software as many cryptos. It is important to notice that, despite using blockchain technology and cryptocurrencies, they should not be confused with these technologies.
Non-fungible tokens are uniquely identifiable and secured on a blockchain ledger with a specified role, purpose, and value. An NFT is also akin to having an autographed photo of a movie star placed to your bulletin board. Only you may own that photo. Accordingly, the above-quoted creator may own underlying intellectual property rights that enable them to reproduce, copy, or generate derivative works of that photo. NFTs are not a new concept. Many game developers have long been using NFTs. They can also be used in games as in-game objects that users can control instead of the developer.
NFTs wield enormous monetary power in the entertainment and collectibles industries, yet it is evident that the IP rights associated with NFTs are severely limited. Because of the non-fungibility of NFTs, a new distribution model for monetizing intellectual property has emerged, and numerous concerns must be considered when licensing, assigning, or transferring intellectual property rights.
Having a parallel organization to the Internet Corporation for Assigned Names and Numbers (ICANN) for NFTs is so important. The ICANN is a US-based not-for-profit corporation whose role is to coordinate, at the overall level, the global Internet’s systems of unique identifiers (IPs, domain names and protocol port and parameter numbers), and to ensure the stable and secure operation of these systems. To have a parallel system for NFTs would improve regulation standards in a new age of intellectual property distribution.