Web3 Intellectual Property (IP) protocol Spaceport has just completed a pre-seed round, raising $3.6 million. Arca, Decasonic, and Crit Ventures, the VC arm of game maker Com2us, led the fundraising round. Cozomo De Medici, Diaspora Ventures, Infinity Ventures Crypto, FBG Capital, Nextview Ventures, Republic Asia, and Valhalla Ventures were among the other participants.
The Spaceport IP mission in the metaverse and what makes it different
The team at Spaceport is working hard to overcome the constraints that the real world places on intellectual property (IP). It exposes users to the metaverse market and provides access to a universal licensing catalogue, both of which speed up the closing of deals. In order to create a global licensing catalogue that is decentralized and easily accessible, the company uses blockchain smart contracts.
Spaceport maintains that it is currently too difficult to make money from ideas and inventions. The process of negotiating a new arrangement every time a creative wishes to commercialize their IP is time-consuming and usually requires the assistance of legal and financial professionals. In order to save time and money, Spaceport plans to implement its approach to IP rights through blockchain technology.
The Web3 licensing protocol used by Spaceport makes the monetisation of IPs straightforward. The company’s licensing architecture is user-friendly, generates accretive revenue, and removes a major barrier to creators adopting Web3 by synchronizing value creation with IP. With the money they’ve raised, the team wants to strengthen their alliances with prominent IP holders, hire top-tier employees, and prepare for a full product rollout to the public.
Spaceport Core, the platform that will allow creators to upload their works, convert the assets to be web3-compatible, and then put that IP catalogue in front of marketers, is already out. That will help creators in securing licensing deals and closing contracts that return royalties through the platform.
Through collaborations with media, gaming, and consumer goods companies, the firm has offered private access to its products in order to facilitate quicker, more streamlined licensing negotiations and metaverse exposure. Spaceport will play a significant role in assisting brands, notably gaming brands, in licensing their IPs in the metaverse.