Monetisation
[LIFM]
“Hello, I like Money”
An Ecosystem such as the one I am designing will not run on “goodwill”; that is not a functional system. It will be monetised and there are a number of ways organisations or individuals can monetise the system.
To be clear nothing on this page should be taken as fact/finalised. This is to illustrate some of the ways money could be made.
Monetisation of Access
One of the ways that monetisation could be achieved is restricting free access to the system:
An OU could pay a mint fee[A percentage of their claim value] to mint the SBT and this could be collectively shared by RPs.
This SBT could also be used in other areas of the GM.
An CU could pay a mint fee[A percentage of their overall PPEP in the LU context] to mint the SBTs and this could be collectively shared by RUs.
Discounts would be available for CUs that onboard multiple users or are RUs
A CU could also be charged to access the SV to look at the evidence that is available.[The quality of the data could determine price]
Discounts would be applied to CUs who are working on public access/pro bono cases.
A CU could also be charged if they violate the guiding principles of the market
Monetisation of verification
Monetisation of Verification is probably one of the most complex but also most interesting ways to create value
One of the major cornerstones of the system is verifying claims from OPs.
Thus CU/LU can make money verifying the claims
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Verification is the process of checking what an individual has put online[the NFT and in the vault is true]
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The act of verification is an IP generating process thus royalties can be collected:
Currently the royalty spilt will be
Founder:2%
Legal arbiter:1%
Every other RP member:1%
Total: 10%[with another 10% for the verifier].
Further RPs right to collect royalties in itself can be bought and sold[except for the legal arbiter and founder percentages that are perpetual and inheritable to the position].
The first RPs will be able to sell their right to royalties after 1 year and will able to renew at a discount should they want to -
Currently the verification system will be human-based[most likely law students/associates] but the aim is to replace them AI agents as soon as the AI agents are at a comparable if not better standard
Monetisation through using the claim
The LNFTs are legal instruments that convey a claim: to being made whole or to being made whole with damages, depending on the jurisdiction.
Depending on the underlying contract, LFs and lawyers will be be able to profit that way.
Monetisation through a Crypto Token
As the meme suggests, I am only floating it as its a natural thought. I DO NOT think its the most realisitic way to monetarily gain from the system due to the extreme reputational risks and other externalities. With that being said:
Currently the LIFM would use fiat rails or good quality crypto to effectuate trades[ETH or Btc]
There’s nothing to suggest that a Utility crypto token could not be designed. One that derives its value from its utility but also backstopped by the Fiat assets of the RUs.
Another Aspect is whether a private or public blockchain is required as both of these have a trade-off.