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Elastos has announced the launch of Elacity DRM, a new digital rights management (DRM) tool designed specifically for Web3, aimed at video content creators.
Elacity DRM introduces an Access Economy Protocol (AEP) that combines non-fungible token (NFT) technology with decentralized DRM. This integration allows creators to share, monetize, and resell their content with defined scarcity, giving them direct control over their digital rights.
“In the Web2 world, centralized DRM has orchestrated a creative heist, depriving creators of their rightful control and revenue,” said Sasha Mitchell, CEO of Elacity, in a press release shared with CryptoNews. “This has created a landscape where the true value of digital assets is diminishing and the connection between creators and their audiences is hampered by layers of intermediaries.”
“We are empowering creators by restoring their rightful ownership and control of their digital assets,” said Mitchell. “By using blockchain and decentralized technologies, we ensure that digital assets are not only secure, but also retain their true value in the Web3 era.”
The tool is based on the Elastos Smart Chain (ESC) and is EVM compatible, making it accessible to a wide range of makers on Elastos SmartWeb.
The future developments of Elastity DRM
Initially focused on video content, Elacity DRM is targeting a variety of applications including independent filmmaking, educational materials, documentaries, and podcasting.
The platform will soon expand its capabilities to audio-only formats, including music and audiobooks. Further expansions with documents, gaming and software capsules are planned for 2024.
One of the key benefits of Elacity DRM is its ability to allow creators to keep a significant portion of their revenue, well over 95 percent, a stark contrast to the 30 to 55 percent range of traditional Web2 models.