Polygon and Cere Network launched Davinci (a non-fungible token) platform and marketplace for NFT tokens on February 14th. The project seeks to strengthen the security behind NFT information. The platform is described as an “all-in-one Web3 media platform” that leverages Cere’s decentralized data cloud (DDC) platform and the proof-of-stake blockchain network Polygon.
Cere Network Announces All-in-One Web3 Media Platform based on Polygon
NFT media, or non-fungible token, has grown to be a major industry and worth a quarter of a trillion dollars in just the last year. There are many controversies in this space, such as issues regarding intellectual property and copyrights that affect things like immutability.
The immutability issues associated with NFT technology were the subject of a heated debate in March 2021. Fred Jin, the co-founder of Cere Network believes that NFT content that’s not stored properly is an issue.
“Most NFT content is not stored securely on the blockchain,” Jin said in a statement during the Davinci launch. “This is a problem, simply because your NFT can lose its content and associated value. The Davinci platform solves this problem via Cere DDC’s secure decentralized content delivery innovations.” The Cere Network executive added:
We’re really breaking new ground here, both for the entertainment industry and consumer enterprises, through a new standard for decentralizing data/content along with the Polygon team.
Davinci’s Platform NFTs Remain Linked to the Original Creator
Other methods for securing NFTs were discovered, including leveraging IPFS2Arweave.com that uses a Blockchain project called Arweave. According to Cere Network, NFT royalties created using Davinci technology will be tied back to their creators.
“Uniquely, each NFT created on Davinci’s platform will remain linked to the original creator through the use of smart contracts that guarantee a share of the royalties from any sale and establish a way for the continuous delivery of exclusive new content,” the Cere Network team’s announcement notes.
Sandeep Nailwal, the co-founder of Polygon believes the NFT ecosystem is just getting warmed up, and Nailwal thinks the Polygon and DDC-crafted Davinci Web3 application will enhance the industry’s growth.
“There is so much more that artists and fans are able to accomplish and access through Davinci that realizes more of the blockchain potential to the mainstream consumers,” Nailwal remarked. Artists, performers, and brands get more revenue from their unique content, while fans get better experiences and secure delivery of their assets.”
Let us know what you think of the Cere Network’s Polygon-powered NFT, and Web3 platform Davinci. Comment below and let us know how you feel about the subject.
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