On February 14, Cere Network and Polygon launched a non-fungible token (NFT) marketplace and Web3 platform called Davinci, a project that aims to bolster the security behind NFT data. 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 Launches All-in-One Web3 Media Platform Built on Polygon
Non-fungible token (NFT) media has become a big deal and a billion-dollar industry during the last year. However, the space has become filled with controversies as well with issues pertaining to intellectual property and copyrights to things like immutability.
In March 2021, there was a furious debate over immutability concerns tied to NFT technology. 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
Meanwhile, since the NFT immutability debate last year, other methods of securing NFTs have come into play, like leveraging IPFS2Arweave.com which utilizes a blockchain project called Arweave. According to the Cere Network team, NFT royalties minted using Davinci will be tethered to the content 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.”