20 April 2021News
“IBM, the longtime top U.S. patent recipient, and IPwe, the Paris-based company behind the world’s first global patent market, have teamed up to launch an ecosystem for patent-based non-fungible tokens, or NFTs.
The patent tokens allow owners to license, sell and otherwise monetize their intellectual property on IPwe’s global patent market and other platforms. Patent NFT trials begin today, and the company expects the NFTs to be commercially available by the end of 2021.
With the launch of the tokens, patents join a growing list of NFT use cases that includes stocks, real estate, music, magazine covers and sports collectibles.
“This is expected to benefit not only large enterprises that have significant intellectual property, but it will bring new opportunities to small and medium enterprises and even individual IP owners,” said IPwe CEO Erich Spangenberg. “We believe it will usher in new offerings by financial services firms and corporations to promote the evolution of a new patent asset class.”