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Elacity Unveils the Web3 Revolution with Elacity DRM for Decentralized Digital Rights Management

Discover Elacity's DRM tool revolutionizing digital asset ownership in Web3. Explore its NFT tech integration and decentralized DRM for creators.

Elacity DRM: Revolutionizing Web3 with Next-Gen Digital Rights Management

In an unprecedented move, Elacity introduces its groundbreaking Elacity DRM, a pioneering Digital Rights Management tool tailored for Web3, with a specific focus on elevating video content management. This initiative sets out to redefine Digital Rights Management (DRM) within the Web3 framework, offering new possibilities for digital asset ownership and trading.

Central to this innovation is Elacity’s Access Economy Protocol (AEP), a game-changing fusion of Non-Fungible Token (NFT) technology and decentralized DRM. This unique blend empowers content owners to share, monetize, and resell their assets while maintaining defined scarcity. It not only facilitates global payments but also erases geographical boundaries and cuts out intermediary fees. Elacity DRM stands as a testament to collaborative and interactive Web3 content markets, while prioritizing user data and safeguarding intellectual property against unauthorized access and misuse.

At its core, Elacity DRM leverages decentralized technology by creating encrypted digital capsules linked to the creator’s digital identity. These capsules, acting as blockchain-logged assets, are individually owned and easily shareable across digital networks. Decryption rights, secured through creators’ smart contracts, paired with a groundbreaking runtime player, ensure secure playback by seamlessly interacting with decentralized storage locations.

The commercial release of Elacity DRM, based on the Elastos Smart Chain (ESC) and EVM compatible, is slated for creators on the Elastos SmartWeb marketplace starting January 2024. This follows a successful trial phase initiated in late December 2023.

While the initial focus centers on video content like independent films, educational materials, documentaries, and podcasts, Elacity DRM’s roadmap extends to encompass audio-only formats such as music and audiobooks. Further plans involve expanding its capabilities to encompass documents, gaming, and software capsules by 2024.

A key highlight of Elacity DRM lies in empowering creators. By enabling direct marketing, promotion, and monetization to audiences, creators can bypass reliance on intermediaries. This approach fosters closer connections between artists and their audiences, breaking away from traditional limitations imposed by third-party terms, conditions, and revenue retention.

To ensure seamless integration across the web, Elacity’s Access Economy Protocol (AEP) manages three types of NFT tokens – access tokens, royalty tokens, and distribution tokens. This places content creators and their networks in full control of their content, its commercialization, and distribution. Detailed collaboration with standard bodies like MPEG ensures smooth Web3 interoperability for creative owners and content consumers.

Elacity DRM introduces innovative economic models through the generation of access tokens traded globally for content decryption. Instant revenue splitting to royalty token holders via smart contracts and NFTs creates not only content markets but also robust royalty markets.

Jonathan Hargreaves, Global Head of Business Development & ESG at Elastos, emphasizes the transformative potential of this partnership. He envisions the Web3 system merging seamlessly with Elastos’ BeL2 approach to a Layer 2 solution, birthing a new ecosystem fueled by Bitcoin. This collaboration aims to revolutionize video streaming, music, and online gaming, marking the inception of a true SmartWeb in the first half of 2024, ushering in a peer-to-peer economy of sharing, fair payments, and empowered users.