Quick take:
- Trips App offers a suite of on-chain IP monetisation tools that allow creators to transform their copyrights into financial assets.
- The platform is built on the Avalanche Evergreen subnet.
- The Trips Platform also connects creators with liquidity providers enabling them to fast-track their projects.
Trips App has launched on the Avalanche Evergreen subnet. The digital IP monetisation platform allows creators to transform their copyrights into financial assets.
The company also announced the completion of a $2.5 million pre-seed round led by Shima Capital, Animal Capital, Blackwood Ventures, Serafund and Calligraphy Digital. Avalanche’s Blizzard Fund also participated in the round.
According to the announcement, the Trips App combines the immutability of blockchain technology with access to capital, enabling creators to turn their creative projects into financial assets.
The platform also offers users opportunities to access liquidity, allowing them to fast-track the development of their projects.
Commenting on the announcement, Michael Finkelstein, CEO and Founder of Trips said: “Creators lack access to capital to monetize their assets, grow their businesses and reach financial stability. The Trips [Platform] presents a novel pathway for content creators to harness their copyrights into a tangible financial resource.”
The platform also allows creators to future-proof their creations against unauthorized, derivative uses “where just compensation should, but often does not, flow to the original author.”
Trips will leverage Alavalnche’s Evergreen subnet network’s customizability to address privacy, permissions, and other requirements needed to reach its goals.
IP authentication, tracking and monetisation have become key elements in the digital world, riding on the popularity of NFTs. The Trips product allows creators to authenticate themselves, link their content platforms and stamp their copyright ownership on the blockchain, in what the company calls TCIs.
This gives them the platform to monetise their creative projects through YouTube, but more platforms are set to be added in the near future.
Marshall Sandman, Managing Partner at Animal Capital commented: “In 5 years, it is estimated that one billion people will self-identify as creators, with the overall creator economy and social commerce markets projected to be $500 billion and $2.9 trillion, respectively. Now is the time to empower every creator to take control of their intellectual property through a transformative approach that acknowledges their rights, while simultaneously expanding their financial possibilities.”
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