Source | Theta Labs
Theta Labs has just received patent application approval for USPTO Application №17/218,245 (“THETA-1003”), a technology developed for implementing decentralised digital rights management (DRM) via NFTs in a decentralised network. This technology has massive applications for managing rights across a number of domains including, for example, live performances, concerts, and other ticketed events that require authentication, which can now be managed via an NFT that provides true digital ownership by the user which cannot be taken from them.
More importantly, one major friction point for content rights holders to use decentralised video streaming is concerns over their content rights being violated, as they require strong guarantees that a peer-to-peer network won’t be used to infringe on their content rights or that of their artists. By using NFTs to implement decentralised DRM, Theta Network solves this issue for content rights holders in a way that does not require a centralised party to authenticate users each time data is streamed. This opens the door for global content brands to safely bring their videos, movies, and games to Theta’s decentralised data and video delivery network.