Our team developed proprietary methods/protocols for digital assets identification, valuation of intangible assets and Smart Contract Permanent Record on Blockchain.
As the digital media consultant, we have been participated in various projects. Our team created content on popular digital platforms and on diverse topics like:
- legal and financial matters – over 50k subscribers/members;
- healthy lifestyle, diets, fitness – over 100k;
- marketing and commercial sites – over 50k;
- art, gift ideas and travel – about 10k;
- artificial intelligence (AI), 3D printing, cyber security – 5k;
- blockchain, tokenization and crypto assets – 5k.
In summer of 2019 we started business projects with clients to implement digital assets evaluation and management.
Innovative schemes to perform intangible assets attribution and evaluation, tokenization and management of digital assets on clouds or IPFS or blockchains.
Unfortunately, we were highly impacted by COVID as clients (prospects) requested to postpone payments, and to put projects on hold, though they all are interested to continue as soon as the circumstances to allow.
We started to work on clients' projects with a very good understanding of their issues/needs.
Our team is ready and excited to go on.
We do know now that clients need not only tokenization to instrumentally use their intangible assets, but also will need implementation of Smart Contracts to utilize their assets with full complexity at the next level of innovation.
Smart Contracts are a self-executing code on Blockchain that automatically implements the terms of an agreement between parties or business logic. It’s basically an unbreakable agreement with predefined rules. In addition, smart contracts are deterministic which means the same output will be generated from a given initial state/input.
Double Coded Digital Assets with Timestamp Records on Blockchain could be Tokenized.
There are three main application of DA Tokenization with Smart Contracts.
Non-Fungible Token (NFT) Smart Contract used to protect owner's right on the original asset.
Fungible Tokens (FT) Smart Contract used to give some of rights to other parties, like the right to print or post one copy of original photo.
Utility Tokens Smart Contracts are used to facilitate transactions of DA tokenized with NFT & FT.
The problem with smart contracts is that most small and medium businesses are unable to implement smart contracts due to technological complexity and because they are expensive. The costs for smart contract development are skyrocketing as there is an increasing demand for smart contract developers.
What’s the actual cost of smart contract development?
Development, auditing and testing are very expensive as this requires even more specialized niche knowledge to find bugs/faults in your smart contract code.
A simple smart contract with no complex business logic costs around $7,000.
More advanced contracts cost up to $45,000 and more.
It’s not uncommon large organizations with specialized knowledge ask up to $100,000. In addition, don’t forget about the costs for deploying your contract on the main net. The complexity of your contract defines the price.
You also need to calculate the exact gas price of your smart contract.