Mattereum, a London based tech firm specializing in creating digital identities for physical assets, is proud to announce its partnership with Cyberoi, a digital transformation company.
The recent explosion of Non-Fungible Token (NFT) projects across the world has enabled artists, asset owners, and collectors to both profit and innovate. However, the need to provide proof and validation of ownership is currently lacking in the majority of these projects. That is, if you buy a regular NFT, you most likely do not own the asset because ownership rights are not understood or conveyed properly in the contract and blockchain.
In the traditional method of ownership, legal contracts and ownership titles could be updated or replaced. NFTs and the blockchain have fundamentally changed this process because they cannot be reversed. Mattereum can encode the legal language of title, ownership, rights, distribution, copy permissions, and enable profitability each time the item is sold.
Vinay Gupta, CEO of Mattereum, said “CyberOi and Mattereum will provide a whole community of artists, businesses and physical asset owners a way to easily track changing asset ownership digitally. By creating a ‘factory’ in which new assets can be onboarded, the value chain of curators, lawyers, asset owners, and communities have a way to work together to efficiently onboard new assets into the blockchain so people can easily create, buy and sell NFTs with known legal properties and real world asset value.”
Keith Montgomery, Vice Chairman at CyberOi, stated “in the near future, most things of significant value will be on the blockchain and Mattereum and Cyberoi will be there ushering this new era of transparency, ownership rights, and ability to buy and sell with greater confidence than ever before imagined.”