Decentralized Science XRPL IP-NFT Metadata

[xVet]

IP-NFTs for Decentralized Science (DeSci) with XRPL

Overview:

IP-NFTs are designed to represent intellectual property (IP) rights within the decentralized science (DeSci) ecosystem. These tokens serve as legally binding digital assets, embodying a futuristic vision for research and IP management on blockchain technology.

Key Features of IP-NFTs:

Binding: IP-NFTs link real-world intellectual property to digital tokens through attached legal agreements in digital format.
Metadata Schema: They utilize a structured metadata schema to detail IP rights comprehensively, including project details and legal documentation.

Tokenizing Intellectual Property on the XRPL:

IP-NFTs incorporate legally binding agreements as encrypted digital copies (PDFs), making the token holder the recognized owner of specified IP rights.
These agreements ensure privacy through encryption, accessible only by the NFT holder or specifically authorized individuals, facilitating token-gated access to sensitive content.

Benefits and Applications:

Facilitates the representation and trading of IP assets within the XRPL ecosystem, opening up possibilities for ownership transfer and trading using the XRPL DEX.

The integration into XRPL can be done with XLS-20/-35 standards for NFTs unlock a wide range of possibilities for IP-NFTs especially in combination with smart contracts like Hooks, especially when accessing the encrypted data smart contracts make a lot of sense for decentralized encryption/decryption.

Metadata Schema

IP-NFTs rely on JSON metadata documents that must adhere to a specific JSON schema, designed to accommodate a wide range of use cases with sufficient flexibility. For those looking to explore IP-NFT metadata in an interactive manner, this visual tool offers an insightful way to examine the structure of a valid IP-NFT’s metadata. It's important to note that essential fields such as name, image, and description are positioned at the top level of the document, in alignment with the requirements set forth by ERC-1155 for metadata, which we are using on the XRPL as well this is consistent with the XLS-024 metadata standard. Additionally, the structures for agreements and project_details are intricately defined within the properties section to provide detailed information.

{
  "schema_version": "0.0.1",
  "name": "test IP-NFT",
  "description": "Secret Sauce",
  "image": "ipfs://CID",
  "external_url": "https://.....",
  "properties": {
    "type": "IP-NFT",
    "agreements": [
      {
        "type": "License Agreement",
        "url": "ipfs://CID",
        "mime_type": "application/pdf",
        "content_hash": "jdsckewcko2"
      }
    ],
    "project_details": {
      "industry": "XRPL DeFi R&D",
      "organization": "University, UK",
      "topic": "DeFi",
      "research_lead": {
        "name": "Chuck Norris",
        "email": "[email protected]"
      }
    }
  }
}

Decentralized Encryption and IP-NFT Token Gating

The usage of encrypted documents is also possible by storing the encrypted symmteric key and its access control coniditions inside the encryption field, the access control condition field uses usually the Lit Protocol, Decentralized and permissionless encryption is a non trivial requirement but this could also be achieved via Hooks by specifying a Hook contract according to the Lit Protocol rules.

{"agreements": [
  {
    "type": "License Agreement",
    "url": "ipfs://CID",
    "mime_type": "application/pdf",
    "content_hash": "bagaaiera7ftqs3jmnoph3zgq67bgjrszlqtxkk5ygadgjvnihukrqioipndq",
    "encryption": {
      "protocol": "lit",
      "encrypted_sym_key": "fcbeaf3af31c7104d1d1f7099a6c6f6fda5803a4f7a0bef93256f3377450291872ad07bed3e9402cb47cc932c8f48219e56b84c06becd5ec0ee83ef2c0c93b932fb675c7932fa8df0ad164f17642b32415e382081577a403c19da2eff22c9083fa134ad1f370c2bec449adcdea790498637c7238b7d67cf2d69507a962656d3200000000000000205e4ad4e6323e06862babc934f740bc2e566d175a5da23bb4f1b35635e5cc3768cd040e8776307ea038484ff42033c18f",
      "access_control_conditions": [
        {
          "conditionType": "Basic",
          "Hook_hash": "xxxxx",
          "standardContractType": "Hook",
          "chain_id": "007",
          "method": "xxx",
          "Hook_parameters": [
            "xxx",
            "xxx"
          ],
          "returnValueTest": {
            "comparator": ">",
            "value": "0"
          }
        }
      ]
    }
  }
]
}