InvArch aims to streamline intellectual property using NFTs

Have you ever had an innovative idea for a venture or business that could have changed the world or made you rich but thought, "I don't have the knowledge or resources to do this"?

Maybe you got as far as looking at how long it would take and how much it would cost to register your idea as intellectual property (IP). In the UK, you have to register with the Intellectual Property Office, which takes years and often comes with a hefty price tag.

You don't want to go to a venture capital firm or angel investor without having your idea registered as IP because they could pinch your concept and launch it without you.

What choice do you have to give up on your idea and hope of making it a reality in this situation?

What it boils down to is trust. It's not easy to trust other parties to protect your ideas while looking for seed money to help your startup. To protect your ideas as IP, you need an approved intermediary, time, and a fair amount of cash, which not everyone has.

There have already been many exciting discussions about blockchain technology, and NFTs could provide a fast, affordable, and decentralised alternative to IP.


Introducing InvArch

InvArch is a blockchain-based platform that bridges the gap between people with great ideas and collaborators, investors, and skilled individuals who can develop those ideas into profit-making ventures.

By using blockchain technology and NFTs, InvArch allows people to protect their ideas and find skilled people to help launch their projects faster than ever before.

The InvArch platform could grow to become a full-blown networking platform and an intellectual property authenticator, which would transform the landscape of the startup ecosystem.

Although the platform currently focuses on the idea side, developers, investors, and skilled individuals will also benefit from the platform.

Instead of skilled individuals offering up their skills or services for employment, they can request equity in the project through the platform. Those with capital can offer seed money in exchange for ownership rights, and those with ideas can sell a portion of their project in exchange for capital.


How does the InvArch platform work?

All projects on the InvArch platform are built using a series of decentralised autonomous organisations (DAOs).

Rather than using individuals to carry out administrative and intermediary tasks, DAOs use intelligent contracts to perform routine operations and governance on the blockchain autonomously, saving considerable time and money. Smart contracts provide a trustless alternative to human beings meditating between two parties.

InvArch is built using Substrate, a blockchain framework designed for developers to create future-proof, effective blockchains. The key benefit of making on Substrate is that developers can avoid time-consuming and annoying workarounds by solely relying on the Ethereum blockchain, as well as it's high gas fees.

Substrate blockchains run natively on the Polkadot network, so every Substrate chain can interoperate with other chains in the ecosystem without needing new bridges. Polkadot also supports InvArch to transfer any data across many different blockchains, not just tokens and NFTs.


How do NFTs fit into the InvArch platform?

NFTs, on non-fungible tokens, are unique pieces of data stored on a blockchain. They are primarily used to represent digital assets like art and music.

Notable examples include the latest Kings of Leon album and Bleepe's "5000 days" digital artwork sold through Christie's auction house for an eye-watering $69.3 million.

InvArch proposes using NFTs to store the various components of unique ideas which, when assembled, form a project.


How is the InvArch platform structured?

There are three core components to every project on the InvArch platform: IP Sets, IP Tokens, IP Ownership Tokens.

IP Sets - represent the total sum of an idea's components. An IP set is a collection of IP Tokens.

IP Tokens - are NFTs containing the files representing the components of an idea. They can be documents, images, videos, diagrams, or practically any other medium.

IP Ownership Tokens - offer a fungible and fractional way to allocate ownership rights over the idea or IP Set. There are a finite and preset number of IPO Tokens that can be assigned to any IP set.

The Value of each IPO works out as the value of the IP Set divided by the total number of IPO tokens. No individual may possess more than 50% allocation of the IPO tokens, preventing one individual from imposing their will on the other project members.

IPO Token holders can propose changes to the project, alterations to the financial strategy, report misconduct by other members, and more.


The VARCH Token

The VARCH Token is the InvArch network's native token.

Its uses include:

  • Paying the platform's gas fees
  • Participating in on-chain governance
  • Minting IP Sets
  • Forming decentralised ventures

One billion VARCH tokens will be minted on the first run, and there is an uncapped token supply. InvArch has set a target for annual token inflation at 5%, which will be split in the following way:

  • 1% will be used to incentivise collators
  • 1.5% will go towards paying for a parachain slot
  • 2.5% will go to users who stake their VARCH tokens

Gas fees on the platform related to transactions and smart contracts will be split in the following way:

  • 80% will be burned as a deflationary measure
  • 20% will be stored in the on-chain treasury and used for projects and initiatives on the network

Team

To learn more about InvArch, visit the following links:


Investment

DAOs will change the way we work and innovate in the space, and InvArch is in an excellent place to make a difference.

I will be looking to enter the InvArch IDO or as soon as it's launched. You can check my current positions in the PNL tab.