10/19/2022
Project Introduction
InvArch is an IP management protocol with smart contract functionality that is being built for the Polkadot ecosystem to one day join the Polkadot relay chain as a parachain. InvArch is designed to allow streamlined access to IP storage, IP ownership, IP authentication, and to turn IP into digital assets that can experience utility in decentralized applications. InvArch provides the protocol for IP storage, introducing IP Tokens (IPTs), IP Sets, and IPOwnership (IPO) tokens. IPTs provide a standard and means for minting all forms of IP (copyright, creative & digital works, code, etc.). IP Sets provide the framework for elaborate mechanisms to be designed. Some examples that IP Sets can be used for are to represent an idea, an album, design patents, or even an entire education system. IP Ownership tokens can serve a plethora of multi-utility use-case possibilities, such as rights to royalty claims, access rights to linked IPTs, security tokens for IP Sets, voting weight in DAOs governing an IP Set, and currency in IP-based dApps.
Project Highlight
InvArch sets a standard for, and makes possible, the tokenization of files and intellectual works as NFTs called Intellectual Property Tokens (IPTs). IPTs are a new kind of digital asset that secure & authenticate IP ownership. IPTs can be combined into collections of related IP called IP Sets, which are intended to reflect the storage of files detailing or describing an idea; however, use-cases are free for future developers to decide based on the needs of their applications. Additionally, InvArch introduces pegged & programmable IP Ownership tokens (IPO tokens). These tokens are pegged to an IP Set, and can serve a variety of multi-utility possibilities. Such possibilities could include acting as rights to royalty claims, access rights to linked IPTs, security tokens over IP, voting weight in DAOs that govern IP, and currency in IP-based dApps. InvArch is powered by VARCH, the native token of the protocol. VARCH is a multi-purpose utility token that exists to provide voting weight to its holders in governance matters related to the protocol, cover IPT minting fees, stake towards IP Sets & dApps on-chain, and act as a medium of exchange for applications built using InvArch. InvArch is being built to join the Polkadot ecosystem as a parachain, introducing interoperable IP assets to the relay.
Project History
InvArch is the result of over 4 years of conceptualization inspired by Dakota Barnett, founder of the protocol. Dakota began forming his idea for a way to "bridge the gap between ideas & creations" in the spring of 2017 after being pitched a well-received idea, only for the curator of that idea to note that they lacked the skills to actualize it. It was in this moment that Dakota realized that intellectual property was notably useless by itself, and lacked a way for individuals to utilize their ideas as assets. After years of mental incubation, the first draft of the InvArch white paper was released in Aug. 2021. Shortly after, The InvArch Association, a non-profit entity focused on the growth and prosperity of InvArch, was established by Dakota Barnett, Gabriel Facco de Arruda, Kresna Sucandra, and Mindaugas Savickas. InvArch has received funding under a Web3 Foundation grant, and raised $1.75 million in the month of Nov. 2021, selling 7% of the protocol's token (VARCH) supply in order to fund the development project.
Team Members
Dakota Barnett, Founder | Gabriel Facco de Arruda, Co-founder | Kresna Sucandra Co-founder| Mindaugas Savickas Co-founder
