BLMP allows brands and content creators to maintain complete control over all of their IP (intellectual property) with a set of unique features that utilize the latest in blockchain technology.
These include such elements as tracking tools, smart contracts, and more that protect IP all of which can be managed from an interface that is easy to navigate, removing the hassles which have previously hindered proper management of all kinds of content.
For example, the use of smart contracts, which are also known as ‘self-enforcing contracts’ tied directly into the blockchain, no aspect of an agreement can be voided or otherwise altered without the consent of both parties. Instead, the instructions are stored on the blockchain and the terms of the contract are carried out automatically without either entity having to perform any action or double check that revenues are distributed fairly and on time. This prevents anyone from not disclosing that sales are made so content creators, publishers, and brands all receive the appropriate cut of the revenue without delay and nobody can be cheated.
Additionally, the terms of these agreements explicitly stipulate all the ways that content may be used, and therefore prevents unauthorized use. Any time a virtual good is created it is assigned its own serial number which is stored on the blockchain and every time it’s used this action is recorded. So if any virtual asset or other form of content is misused, the maligned party may sever the contract and the offending party no longer has access to the IP.
Not only that, but BLMP has developed its own cryptocurrency which makes transactions even more trackable and transparent. The various kinds of tokens offer numerous advantages to anyone who purchases them and are the only means of purchasing licensed virtual goods on the platform.
Given these features, it’s simple for content creators of all types and across industries to expand their reach by creating licensed virtual goods, the value of which is clear to buyers, sellers, and the holders of the IP. This will result in a thriving market for these virtual assets in which everyone involved can conduct transactions securely and with confidence.