Memoir Protocol and Magma will help artists grow with ‘programmable intellectual property’

Lee believes the provenance, or attribution to assorted creators who contribute something to a mashup, ought to happen on the blockchain. That makes it trackable and the money that outcomes from it will also be part up the family tree for any given successful creation. Gaming is an especially fruitful sector for this, as gamers like to form mods or person-generated suppose.

“Beforehand, to license works like this, it is advisable extinguish it with an navy of lawyers or BD people,” or take it to a stock picture firm, he stated.

Getting IP “programmatically enshrined onchain, with licensing, royalty sharing records — that’s a valuable step in opposition to that future,” Lee stated.

In the deal with Magma, the alpha version of this partnership will dash dwell in just a few weeks’ time when Memoir Protocol launches its testnet. The beta version will be available in just a few months when Memoir Protocol launches its mainnet.

Background on the speculation

Sooner than founding the firm, Lee had served as worldwide method officer at Kakao Leisure, a huge Korean entertainment firm developing and turning in usual suppose and IPs across formats. Lee bought his first endeavor, Radish, the cell serialized fiction app with millions of downloads across the globe, to Kakao Leisure for $440 million in 2021.

Lee bought the speculation just a few years within the past as he became as soon as working on the intersection of cell and storytelling, with the serialization of webtoons and manga within the Asian markets. The biggest anguish level became as soon as that in working with IP, it’s if truth be told hard to form a network carry out that makes that IP even extra modern.

“With social media and now generative AI, there is such a tall abundance of suppose competing with every other that it is advisable maintain an insane quantity of capital to extinguish marketing or form killer IP,” he stated. “Nonetheless there’s no building or framework for IP creators or IP owners to collaborate on IP construction.”

This period began with cryptocurrencies, which maintain been like programmable money, or “money Legos.” That infrastructure of billions of “programmable dollars” is in space, leading to a parallel monetary gadget with network outcomes.

“The most foremost wave of crypto became as soon as programmable money – the next wave of crypto will be outlined by programmable IP,” stated Lee. “Creators ought to now be those responsible for surroundings the principles for their creations, no longer centralized intermediaries. By taking part with Magma, we are succesful of enable over two million artists on its platform to collaborate, monetize, and shield their IP. The exponential scoot of suppose creation within the period of AI demands a programmable IP layer the set up every atom of IPs can change into molecules permissionlessly.”

By bringing programmability to IP, Memoir Protocol permits IPs to win, remix, and monetize thru on-chain principles dwelling by their creators. This permits creators to maintain control over the AI objects and outputs they form, the set up attribution, licensed remixing, and income sharing are all captured on-chain.

With generative AI further exploding creativity, excessive-quality artwork, song, and video will also be created by anyone with an web connection. The biggest subject for generative AI nowadays is coaching objects that respect creators’ rights. With this mannequin, you’ll be succesful to note an artists’ contributions and reward them.

To propel sustainable generative AI innovation, Lee believes we want a human and machine-readable IP registry that enables any creator to without anxiety dwelling usage terms for their suppose, making IP programmable.

Making it work higher

Memoir Protocol will provide its Programmable Intellectual Property (IP) Layer to Magma to allow millions of artists to register their creations, shield their IP, contribute to existing franchises, and even birth a brand new franchise with other collaborators to monetize their IP.

Marking a departure from static JPEGs (the standard originate of non-fungible tokens, or NFTs), Memoir Protocol enables any creator from around the realm to register their IP and seamlessly welcome contributors to join with attribution whereas retaining control of their creations. Artists can showcase their usual suppose whereas transparently highlighting any AI previous within the inventive process.

The upward push of NFTs has intended that there is now a theory of ownership and scarcity for digital media recordsdata, as blockchain enables the tracking of digital recordsdata and non-fungible tokens allow for tracking odd suppose.

“Now there’s a token relating to a digital file and it makes it odd and scarce. Nonetheless NFTs are serene very trapped,” Lee stated. “While you happen to absolutely dig down on the expertise, it’s factual pointing to media file.”

Nonetheless programmability for money began to form a brand new opportunity, Lee stated. While you happen to aquire an NFT like a Bored Ape, you wan to take that persona correct into a brand new sport or something on the metaverse. You serene maintain to manufacture lawful licenses and doubtlessly overview with a finances of lawyers sooner than you might want to well perchance well extinguish the rest with your Bored Ape that you just might want to well perchance well perchance monetize.

“It’s all trapped in factual documents. To of direction produce that roughly licensing composability work in a permissionless, frictionless formulation,” it is advisable extinguish something extra, he stated.

Now, with this roughly programmable IP, the proprietor of the Bored Ape can dwelling the terms for licensing their explicit Bored Ape out to others — and extinguish this in a instant time.

“To provide a remix, produce a derivative in a extremely frictionless technique, you proceed to are looking out to seem at with an navy of lawyers, an navy of folks and a bunch of factual documents to provide that happen,” Le stated. With Memoir Protocol, “anyone can now most incessantly produce derivatives of your persona is a permissionless technique.”

“What we extinguish now with Memoir Protocol is we produce all these onchain rights, usage rights, licensing, monetization of IPs — we produce it programmable,” Lee stated. “We now maintain a constructed-in API for remixing, licensing, and monetization.”

You will be succesful to provide a grasp IP like a penguin. Then people around the realm can work with the IP proprietor, following predetermined principles for the technique customers can engage their creativity in connection with the IP. As the artist, you dwelling the principles for the technique others can exhaust your penguin. You then win paid as they add value.

With the programmable IP, any creator can engage with any AI objects and that IP. That IP can then posthaste unfold across media, or what Lee reverse to as the metaverse.

“And most incessantly what this gives is an wonderful network carry out,” Lee stated.

More collaboration

Magma permits teams to form and collaborate on digital artwork concurrently, providing as a lot as 50 artists with the ability to method on the the same canvas in staunch-time. All of Magma’s artists can form 10 million works of artwork a year.

With Memoir Protocol, creators and collaborators can without anxiety contribute to existing projects, co-form new assets, and remix modern IPs. They might be able to liberate new liquidity pools, license their IP at scale, and stumble on new income objects. They might be able to shield their IP thru self-imposing principles, without anxiety note authentication and provenance, and maintain the benefit of transparent security.

Memoir Protocol is building a network for billions of folks to win and remix IP, tracked on-chain with attribution and provenance, Lee stated.

More on the IP entice

IP is serene trapped within the Medieval age — with mountains of kinds and lawyers, making it inaccessible to creators. It’s siloed and opaque, forcing creators to fight to guard, distribute, and monetize their work.

With generative AI further exploding creativity, excessive-quality artwork, song, and video will also be created by anyone with an web connection. While the Web has long been a haven for creativity and collaboration, introducing assorted methods to win admission to copyrighted subject cloth and circumvent copyright claims, our IP infrastructure is unable to withhold up.

Finally, it will be hard to resolve out in every case the set up a piece of artwork is shared, and then derivative arts are spawned. How a lot extinguish the creators of the derivative artwork win, versus the usual proprietor’s part? That’s a elaborate demand.

Through Memoir Protocol and Magma’s collaboration, artists and studios can now verify when their work is entirely human-made, with no AI help, whereas those that leverage AI to place the finishing touches on their work will be succesful to clearly distinguish their manual work from AI-assisted formulation or layers, holding their inventive integrity. Memoir Protocol simplifies the copyright process and reduces factual dangers by allowing artists to without anxiety level to the extent of human creativity taken with AI-assisted work.

“Right here at Magma, our core mission is to empower artists and inventive teams to liberate their elephantine capacity, no longer factual thru developed collaborative creation and administration instruments nonetheless by integrating IP protection as a pivotal phase of the workflow,” stated Oli Solid, COO of Magma, in an announcement. “Our partnership with Memoir Protocol is a strategic dash in opposition to robustly securing assets as phase of the inventive process. This integration contributes to our aim to enable creators to submit, shield, and monetize their work seamlessly within the Magma platform. Aligned in our vision to empower creators, together with Memoir, we’re surroundings a brand new standard for inventive collaboration, making IP protection an intrinsic, easy phase of the inventive bound.”

Origins

Memoir Protocol became as soon as primarily based by Lee, Jason Zhao and Jason Levy — a team of serial entrepreneurs (who previously had a $400 million exit) and experienced operators with a diverse background in person tech (200 million-plus app downloads), generative AI (Deepmind), and Web3 infrastructure (Whisk with the circulate and Harmony).

They raised a whopping $54 million in September 2023.

That backing came from just a few of the tip investors like a16z crypto, Endeavor, and Hashed. Diversified investors included Samsung Next, Paris Hilton’s 11:11 Media, dao5, Insignia Enterprise Companions, David Bonderman (chairman of TPG Capital), Si-hyuk Bang (chairman of HYBE/BTS), CH Kim (CEO of Krafton/PUBG), Kyung In Jung (CEO of Sunless Designate), Wattpad Co-founder Allen and Eva Lau’s Two Small Fish Ventures, Alliance DAO, Foresight Ventures, Mirana Ventures, Balaji Srinivasan, Nicolas Berggruen, Charlie Songhurst, David Lee (SLVC), Sanghun Kim (previous CEO of Naver), Chang Kim (founder of Tapas) and Roham Gharegozlou (founder & CEO of Swish Labs), among others.

The firm has about 25 to 30 people working for it.

Magma is a browser-primarily based completely artwork platform that optimizes the inventive workflow. Relied on by better than 2.5 million customers from over 100 nations, Magma empowers creators with developed artwork, produce and undertaking administration instruments.