Register Existing Minted Token as IP

This use case is designed for artists who already own an NFT that was created before the launch of the KOR Protocol and now want to register that NFT as intellectual property (IP) within the KOR ecosystem. If you've minted your NFT outside the KOR Protocol but want to ensure it's recognized and protected under this new framework, this scenario will guide you through the process of registering your pre-existing NFT as IP on the KOR Protocol and attaching a custom license to it.

Pre-requisites

You can refer this link for basic setup before you can start with the following steps.

Step 1: Register existing minted NFT as an IP Asset

In this step, you will register an existing minted NFT as an intellectual property (IP) asset using the registerNFT function from the IP module.

const data = await korSDK.registerNFT({
    licensors: [licensor1, licensor2, licensor3],
    tokenContract: value,
    tokenId: value,
});

By executing this step, you successfully register your existing minted NFT as an intellectual property (IP) asset using the registerNFT function. This process involves specifying the licensors, tokenContract, and tokenId, granting your NFT formal legal protection.

Step 2: Create a Custom License

In this step, you create a custom license for your IP, defining the specific predefined terms and adding any custom terms using the createCustomLicense function from the License Module.

const data = await korSDK.createCustomLicense({
    isRoyaltyAllowed: isRoyaltyAllowed,
    isCommercialUseAllowed: isCommercialUseAllowed,
    isExpirable: isExpirable,
    isDerivativeAllowed: isDerivativeAllowed,
    licenseFee: licenseFee,
    customKeys: customKeysJson
});

By executing this step, you create a customized license that outlines how your IP can be used, shared, or monetized.

Step 3: Attach the Custom License

In this step, you attach the newly created custom license to your IP, enforcing the predefined terms established in Step 2 using the attachCustomLicense function.

const data = await korSDK.attachCustomLicense({
    ipId: ipId,
    licenseTermId: licenseTermId,
});

By executing this step, your NFT is now governed by the license terms, formally binding it to the usage rights and conditions you set. This attachment ensures that all interactions with the NFT respect the specified licensing framework and also including the custom terms in the metadata attached to the asset, safeguarding your intellectual property rights.

By following this workflow, you’ve successfully registered your existing NFTs as intellectual property and attach a custom license to it, enabling you to protect your creative assets on the blockchain.

If this specific approach doesn’t suit your use case, explore other tutorials to find the best fit for your NFT and IP needs!