Web3 Royalty Management Platform

Project Brief

The Blockchain Powered Artisan Royalty Management Platform is designed to empower artisans by creating a transparent system for tracking ownership and royalty distribution. This solution leverages blockchain technology to attribute artisans' work through NFTs, ensuring that each artist receives appropriate royalties. Built on Polygon for fast, low-cost transactions, this platform provides real-time updates across the supply chain, ensuring artisans' contributions are recognized and compensated.

Value & Impact

The platform ensures fair compensation for artisans, improves transparency in royalty distribution, and reduces operational costs through low-cost blockchain transactions. It empowers artisans by providing secure, transparent records of their work and contributions.

Key Features

• NFT-Based Ownership Attribution
• Automated Royalty Distribution
• Real-Time Supply Chain Tracking
• Transparent Data Access
• Low-Cost Transactions

Solution & Architecture

• NFT Minting for Ownership Tracking: Creates unique NFTs for each artisan's work to track ownership and royalties.
• Smart Contract Layer: Developed using Solidity on Remix IDE to automate royalty distribution and ownership transfer.
• Real-Time Data Processing on Polygon: Provides low-cost, high-speed transaction processing to keep artisans' data updated in real-time.
• Decentralized Data Storage: Ensures ownership records are securely maintained and accessible across the supply chain.

Technical Implementation

Smart contracts developed in Solidity manage royalty distribution and ownership tracking. NFTs on Polygon enable unique identification and real-time updates. A decentralized data storage system ensures secure and accessible records.