This Company Has Introduced an NFT Software Licensing Model, And It’s a Disruption

Non-fungible tokens, or NFTs, are digital assets representing tangible objects such as videos or pieces of art. NFTs make use of blockchain technology and can be used to corroborate ownership of physical or digital assets. They are traded via online marketplaces and are usually purchased with a form of cryptocurrency.

While NFTs have been around for years, they have recently attained a new level of mainstream acceptance with celebrities and large businesses looking for ways to commercialize them. A-list VIPs in a wide variety of fields have recently become involved in the NFT market. Names ranging from the NFL’s Tom Brady to Snoop Dogg and Serena Williams have purchased NFTs or are using them as profile pictures.

The decentralized nature of the blockchain makes it uniquely suited to store and verify ownership of digital assets like NFTs. Most of the activity surrounding NFTs has been related to the purchase of digital art and collectibles. But that limited use of NFTs just scratches the surface of their potential.

Problems with current software licensing models

An NFT is essentially a small application that can be programmed to perform many different types of activities. A new way to exploit this technology is being introduced by CleverFiles, the software company behind the popular data recovery software Disk Drill.

The decision-makers at CleverFiles are using NFTs to address issues related to software licensing models that impact vendors and users. Using a newly developed NFT software licensing model, CleverFiles hopes to lead the way with a more efficient and enforceable method of licensing software products.

The problems faced by software users and vendors that may be alleviated with this new licensing model include:

Pirated software: Tremendous sums of money are lost annually to software piracy. Using NFTs for software licenses makes it possible to enforce anti-piracy measures and protect the investment made by a product’s developers.

Transferable licenses: Standard software licenses are difficult if not impossible to transfer effectively. Many scams are perpetrated on users searching for second-hand licenses that the use of NFTs would eliminate. Purchasing the underlying NFT is a direct and verifiable method of transferring a software license to a new owner.

Lost licenses: A majority of software licenses are distributed as long sequences of alphanumeric characters embedded in an email. It’s very easy to inadvertently delete an email containing your software license and not all vendors will reissue the necessary credentials. As a result, many users lose the ability to access a licensed software product.

Disrupting the software licensing landscape

Roman Kropachek, a blockchain supporter and founder of CleverFiles, has more than twenty years of experience in the world of information technology (IT). He has witnessed the havoc that can be caused by the traditional software licensing models and sees a solution in recent technological breakthroughs.

Roman is promoting the use of NFTs to develop cutting-edge software licensing models. He believes that NFT-based tokens and the ability of the blockchain to verify ownership are the future of software licensing agreements and is excited at the prospect of CleverFiles leading the way.

CleverFiles has become the first software company in history to offer software licenses as NFTs. The company has launched a limited collection of NFT-based licenses through OpenSea, a large and reliable NFT marketplace. A total of 100 fully transferable lifetime Disk Drill licenses have been released to the public in this initial offering.

A vision of smarter software licensing

An NFT license for Disk Drill can be obtained for less than the equivalent of $80 in the open-source stablecoin USD Coin. This represents a savings of around 30% compared with the $118 cost of a traditional license for Disk Drill PRO. A unique and collectible piece of NFT art is included with the purchase of the license.

This first set of NFT licenses for Disk Drill just scratches the surface of the potential benefits this technology brings to the table. These NFTs enable licenses to be transferred easily and make sure a license is never accidentally lost. Future NFT software licenses can be programmed to perform various activities based on meeting predefined conditions.

NFT licenses may be programmed so vendors get a percentage of second-hand sales. Fully automated license verification is possible with all required information safely stored in a crypto wallet.

Conclusion

Software licensing models have not changed to keep pace with our rapidly changing technology. CleverFiles wants to change that and is poised to disrupt the software delivery industry with its ingenious and futuristic use of an NFT licensing model. It promises to transform and streamline the way users and vendors handle software licenses.