Last Updated May 2022
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CreatedBy_
A Phygital NFT Ecosystem and Community
Empowering Global Creators to Transform Physical and Digital IP Between IRL and the Metaverse.
Purpose of this Paper
This paper provides a high-level overview of The CreatedBy_ ecosystem and community, a blockchain based Phygital NFT IP management platform where anybody can learn, create and belong to a community of like minded creators in joining and controlling the journey from WEB2 to WEB3. This is not intended to be a deep technical white paper, but an introduction to the CreatedBy_ vision and a call to action to Empower Global Creators to Own, Bridge, and Manage Physical and Digital IP Between IRL and the Metaverse realms.
Introduction
The CreatedBy_ vision started with our original white paper authored in July 2017: Empowering Global Creators to Own, Control, Distribute, Communicate, Collaborate, and Monetize in the Modern Digital Economy, with the intention at the time, of conducting an ICO of our own token to fund the ecosystem, but the project was slightly ahead of its time and sidetracked due to the SEC ICO crackdown. But the CreatedBy_ vision continued on its adventure as we learned new technologies of smart apparel development and methodologies and RFID based inventory management, it gave opportunities to where the vision nurtured to today. All pieces of the puzzle fit and we started again with a better vision in hand. The universe is ready. We are ready. Lets make the journey from IRL to WEB3 Metaverse CreatedBy_ YOU!
The CreatedBy_ Vision
Community Commerce and Phygital NFTs are the future of the modern digital economy of WEB3. With the advent of blockchain, NFTs and their utilities, creative intellectual property utilizing Phygital NFTs will be the engine of the new digital economy of community commerce. Through the CreatedBy_ ecosystem we are building the standard of simplified tools for global creators to own, control, bridge, and manage their physical and digital IP between IRL and the metaverse.
Our mission is to provide global creators the knowledge, communities, utilities and tools to join the WEB3 movement. To take control of their creative IP ownership and actively manage the usage and earning power of their creations though community commerce moving forward. Through the CreatedBy_ ecosystem we are building simplified tools within the ecosystem for creators to take control and manage their existing physical and digital IP assets into WEB3. We are building the connectors and plug-ins from existing platforms, e-commerce, POS, and ERP systems to migrate existing art, fashion, music, films, words, crafts, products, designs and creations into Phygital NFTs, where creators take control. We are partnering with and developing on top of the best open-source developers’ tools and platforms on first layer blockchains to grow exponentially with a community of like-minded global citizens as we build the future of the WEB3 digital sphere where it is CreatedBy YOU!
The Eco-System
In the CreatedBy_ ecosystem our aim is to educate, enable and have global creators take control of their Phygital (physical and digital) IP ownership and play a role participating and contributing in the modern digital economy of WEB3. For creators to reclaim their ownership and their value disrupting the current systems and platforms which take advantage of the creator communities of artist, designers, musicians, writers, film-makers, craftmakers and their creations.
The ecosystem will be developed and operate first on the Solana blockchain in conjunction with the Metaplex NFT standard and Holaplex Profile Standard, where to copyright ownership, usage rights, and distribution of royalties among all creators and co-creators will be established and guaranteed by minting NFTs for each and any creators existing or new Phygital (physical and digital) IP assets creating a unique identifier and ownership to them freely Control, Distribute, Communicate, Collaborate, and Monetize in the Modern Digital Economy of WEB3.
Roadmap
The CreatedBy_ ecosystem is a community of like-minded creators worldwide with the desire to join the modern digital economy. Our ambition is to grow to a community of millions of participants, creating, controlling and monetizing their creative IP through the CreatedBy_ ecosystem and Phygital NFTs.This roadmap outlines our vision on how the CreatedBy_ ecosystem will evolve in three phases to start:
Phase 1.0. Building Bridges
As most creator’s current existing digital IP is sitting within WEB2 platforms such as e-commerce/POS systems (Shopify, Etsy, Lightwave and more). We are building CreatedBy_ Connect, the connectors and plug-ins for creators to manage and transition their existing digital IP assets (images, descriptions, and meta data) in these systems to simply, affordably and directly mint and manage NFTs. Giving creators complete control to unlocking and utilize the WEB3 utilities of NFTs to own, distribute, communicate, collaborate, monetize and much, much more in the Modern Digital Economy of WEB3 as a user and member of the CreatedBy_ ecosystem.
Phase 2.0 Phygital NTFs– Physical + Digital
We have been busy the past five years developing the technology and systems to make physical IP items become unique digital IP via NFTs and vice versa, thus becoming Phygital NFTs to onboard creators to be a part of the WEB3 experience. With are years of experience developing smart apparel, playing with printed electronics and building an RFID inventor management system, with our teams knowledge and new technologies that have arrived makes Phygital NFTs a reality.
So, what is a Phygital NFT? It a Non-fungible token (NFT) that is both a unique physical product and digital product at the same time. Physical + Digital = Phygital. To where a physical product can be purchased and the buyer can receive a digital NFT of the same product. Or a digital NFT product can be purchased and the physical product sent to the buyer. They are one of the same, but one is used in real life (IRL) and one in the digital realm (WEB3/Metaverse).
NFTs offer utility. What type of utility? Proof of ownership, proof of transaction, transparency, digital provenance, direct messaging, chain of ownership, fractional ownership, royalties, direct bidding, proof of attendance, event ticketing, voting, rewards, staking, lending, renting, play to earn, donations, and many, many others that will continue to be developed on into the future. NFTs are powerful and will continue to get even more powerful. So ,now you can see why Phygital NFTs will be vital for creators and retailers in the future. They are the future.
How does it work? Here is an example. First, the creator/retailer must create (mint) unique NFT(s) from their physical/digital product. This can be done numerous ways. Through the CreatedBy_ ecosystem (including CreatedBy_ Connect) or any NFT minting platform or ecosystem. The CreatedBy_ ecosystem will allow, once an NFT is minted from a unique item, for a creator to use the CreatedBy_ App on their smartphone to encode the NFT to a CreatedBy_ Digital Tag. The encoding is a read only, locked and encrypted snapshot of the NFT smart contract data. Once encoded on the CreatedBy_ Tag can be affixed to the original physical item, thus making the unique item both physical and digital NFT. Say hello to the Phygital NFT. The CreatedBy_ Tag will tie directly to the on-chain smart contract of the minted NFT which contains the token address, mint authority, update authority (wallet address) and are utilized for proof of ownership and control of the Phygital NFT by the owner.
Once a buyer purchases the Phygital NFT from the creator/retailer, the buyer becomes the owner of the unique Phygital NFT that is stored as a collectible within their digital wallet. In turn, once they receive the physical item, they will be able to scan the CreatedBy_ Tag on the physical item with their smartphone using the CreatedBy_ App to prove ownership and the control of the Phygital NFT moving forward. Enjoying all the utilities offered by NFTs in both in real life (IRL) or in WEB3 (Metaverse).
The CreatedBy_ Tag can be used on most physical items like a unique piece of physical artwork, apparel, crafts, books, and much more. Are there limitations? Yes, however, as technologies continue to evolve and mature, digital tags will be integrated into items during creation or manufacturing of the product as part of the raw materials or affixed. Short-term, creators will need to be a part of the transition of existing physical and digital items as they transform into Phygital NFTs. This includes minting NFT or utilizing the CreatedBy_Connect connector/plugins to mint unique NFTs of their existing items, purchase CreatedBy_ Tags they wish to affix to items, encode the CreatedBy_ Tag with the unique NFT data using the CreatedBy_ app and affixing it to the correct unique item. Yes, it’s a process but the power creator/retailers will receive will be will worth the effort. Over time, this process will continue to be simplified to the point where it’s a part of the creative process, product creation and manufacturing. And once Phygital NFTs are created the real fun begins for creators – Say hello to Community Commerce.
Phase 3.0. Open Source Community Commerce
To get a good understanding of the power and future of community commerce, a use case example paints the picture of where things are headed. And it’s super cool.
In a typical shopping experience between a creator/retailer and a buyer, once the buyer buys the product and leaves the store or the buyer receives it as a delivery from an e-commerce purchase, that is typically the end of not only the communication the creator/retailer has with the buyer but also if/how the item is resold, who the new owner is, share in the resale value or knowledge of where and how the product is used. Now of course creators/retailers likely have email lists, they throw events, or maybe the buyer follows them on social media, It is limiting to how and where creators/retailers can attempt to reach buyers and impossible to control what they are doing with the item or share in any royalties. In most cases the buck stops there. Literally.
Now, imagine a creator/retailer that could continue to own, control, and communicate with the buyer of their product on going after they purchase it; Share in its resale value (if sold), make buyers offers of discounts or coupons, first access to new product releases, feedback and voting on products, access to private events, provide rewards and incentives, one-on-one access, and set how the product can be used in the Metaverse (WEB3) for collaborations, gamification, display and so on. Where the creator/retailer owns, controls, communicates, and monetizes both their IP and community of buyers and all future owners. Including usage and messaging data ongoing in the complete lifecycle of the product and afterlife of recycling and upcycling of the product. This is the empowerment that Phygital NFTs deliver to creators, retailers, and product producers.
But let’s go a little deeper. As we noted, currently a creator/retailer has maybe a physical store, and/or online store and maybe sells through social media. These are the key platforms of which the retailer sells and communicates their products directly to buyers. They don’t own the platform data, the community or data, and have no control once a product is sold. Through Phygital NFTs, the creator/retailer can develop, own, and monetize their community commerce. How? After a physical product is produced or manufactured, A Phygital NFT of each unique product can be created and place in the creator/retailer’s digital wallet. This digital wallet not only allows for the transactions of cryptocurrency’s and holding of collectibles, also becomes the creator/retailer’s storefront for Phygital NFT products. Kind of like Shopify or any other e-commerce store they currently pay to use and don’t own. Now here is where it gets super cool.
Buyers will have the ability to follow a creator/retailer’s wallet and see what products (Phygital NFTs) the creator/retailer owns and could make direct offers to purchase those products. Not only that but when a new product is made by a creator/retailer, they will become alerted via direct messaging, that the product has been created and is available to purchase in the creators’ wallet. The creator/retailer can control which items and who can view/purchase item within their digital wallet. They can also create branded marketplaces and/or offer the items as auctions across multiple marketplaces at once. Buyers can communicate directly with creator/retailers and vice versa. So, when a creator makes a new Phygital NFT product a buyer can instantly offer to purchase the item. Sound like a social network? Kind of like Instagram posting of images, but in this case Phygital NFTs product, and they own, control, communicate, and monetize the whole experience. Its their personal social network, e-commerce shop and much more rolled into one.
So to move on, once the item is purchased by the buyer, the Phygital NFT is transferred to the buyer’s wallet and buyer also will be shipped by the creator/retailer the “physical” equivalent of the item, thus owning both. Now here where it gets interesting.
Once the Phygital NFT is owned by the buyer followers of the buyer’s wallet will become alerted of the new Phygital NFT and can make direct offers to purchase it. The buyer’s wallet is a storefront as well. The buyer/owner can control which items and who can view/purchase item within their digital wallet. They can also create branded marketplaces and/or offer the items as auctions across multiple marketplaces at once. Buyers can communicate directly with other digital wallets that follow them and vice versa. So now, if resold, not only does the buyer/owner receive money from the transaction but the original creator/retailer can assign a royalty % of all future sales and receive a portion of the resale value on going. And lastly, the original creator/retailer not only receives a royalty of sale, they also now have direct communication with the new buyer/owner. And so on and so on. That’s creating community commerce. Now, this is only scratching the surface of what is possible with a Phygital NFTs and community commerce. The possibilities are endless and its just starting.
Technology Tools & Partners
How is all this all being developed? Open Source. The CreatedBy_ ecosystem is being built and developed to be open and to expand. We are building our parts of the ecosystem to be open and utilized by others and CreatedBy_ is built upon other great open source protocols, standards, applications, and ecosystems. The ecosystem for CreatedBy_ is built on the Solana blockchain, utilizing the Metaplex NFT Standard, Phantom Wallet, Holaplex Profile Standard, Dialect messaging, Arweave hosting, FTX DEX, Realms DAO, and many other open sources project. Our main contribution is CreatedBy_ Connect, Tags, Apps, and the Phygital NFT Standard. We will continue to build on new and emerging open source projects and build partnerships to enable cross-chain compatibility and utility for WEB3 and the Metaverse.
Tokenomics
A key driver of value within the CreatedBy_ ecosystem is $CREATEDBY — the monetary reward system delivered via well-balanced economics, supported by both the platform and blockchain mechanics. $CREATEDBY is the fuel of the CreatedBy_ economy, enabling creators to operate (DAO voting system) as well as monetary value to be created for rewarding the community members.
Creators worldwide can participate in the CreatedBy_ ecosystem as the $CREATEDBY token will be issued as a community token, fueling the ecosystem and all participants can join the CreatedBy DAO for governance of the ecosystem, where members have a voice and vote in the CreatedBy ecosystem via our DAO, where everything is CreatedBy_ YOU!
Governance Token and DAO
$CREATEDBY is the community token, used at each level of the governance, representing financial stake, voting power in CreatedBy_ DAO and control of the Treasury. A portion of $CREATEDBY may be available for public offer purchase through various stages of the ecosystems’ development.
Incentives, rewards, community
Anyone who sells or buys NFTs on the CreatedBy_ ecosystem will earn $CREATEDBY tokens. The distribution of tokens will also take place to reward users performing tasks or stimulating the growth of the community. Ownership of $CREATEDBY will allow for influencing decision-making of the CreatedBy_ development roadmap, platform economics, events schedules and peer invitations. The decentralized governance will enhance the community engagement and overall project support.
Platform Currency
At launch, the CreatedBy_ ecosystem will accept Sol tokens. Other tokens and fiat payment will be included in the future.
Long Term Vision
The CreatedBy_ ecosystem is being built and developed to be open and to expand. As we are all creators there are many different identifying affinity traits of creators worldwide specific needs, and we envision our community to branch into deeper levels of new tribes of artist, musicians, writers, fashion designers, film-makers, craftmakers and more but still belonging to the CreatedBy_ ecosystem but though independent ownership, governance and development via the DAO. Building a new business model for creators generating lifetime creative ownership, control, community, usage rights, collaborations and monetization.
As everything is CreatedBy YOU, creators may desire to create a smaller subset communities like photoby, songby, tshirtby or filmby. We got that covered, as we have secured 100+ creative affinity traits WEB2 and WEB3 domains to build new communities within the CreatedBy_ ecosystem, where the DAO will directly vote on which to release, determine governance, roadmaps and development needs. Creators should own and control their creative value period! The time is now to transform existing physical and digital IP assets from and take back the ownership, control, revenue back from the systems and platforms we gave it to. We are and will continue to build bridges connectors from WEB2 to WEB3 which are simple, affordable and give creators 100% control. We are and will create systems for creators to make physical and digital IP into Phygital NFTs. Will are and will remain open for creators to build and own the communities they desire to participant within.
Conclusion
Lets make the journey from IRL to WEB3 Metaverse CreatedBy_ YOU!
Join the community:
Discord: @CreatedByIO
Twitter: @CreatedByIO
Telegram: @CreatedByIO
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