Curtin University’s R&D Blockchain Lab Partners with Envision to Design and Deliver the Smart Contract Platform
Envision might be compared to Shutterstock, except decentralized.
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Envision is a decentralized stock content platform where ownership is signaled by non-fungible tokens.
Envision Partners with University
The Research and Development Blockchain Lab at Curtin University of Technology has partnered with Envision Stock, a decentralised platform for marketing and purchasing stock content leveraging smart contract and blockchain technology to provide proof of ownership.
Curtin’s Blockchain Research and Development Laboratory will assist in developing and testing the blockchain infrastructure underpinning Envision, which will include the set up of the ERC 1155 NFT tokens providing proof of ownership over content, associated smart contracts, deployment and management of blockchain nodes, NFT integration with the frontend and with decentralised file sharing systems such as IPFS. Additional services will include smart contract optimization and scaling to reduce gas fees, as well as multi-faceted testing including unit testing, integration testing, acceptance testing and whitebox penetration testing.
Curtin’s R&D lab is perfectly positioned to assist Envision thanks to its wealth of know-how and experience in delivering commercial blockchain solutions in various industries. The lab combines research capabilities from Curtin University with the delivery and execution prowess of Natsoft Consulting, the company that supported the establishment of the Research and Development Laboratory.
The lab will thus offer an end-to-end technical solution to Envision, allowing it to focus on attracting content and users to a new, more efficient and fair blockchain-based stock platform.
Envision is the first blockchain-based stock media platform to give back power to creators. Traditional platforms rely on extracting immense value as middlemen, taking ownership of the stock content and then returning a small portion of the revenue to the original creator. Creators have no control over pricing or revenue sharing, with research showing that creators may get as little as 20% of the total proceeds. This would be considered predatory even by other established middlemen services such as Airbnb, which takes “just” a 20% cut.
Envision combines a peer-to-peer marketplace based on cryptocurrencies with ownership signaled by NFTs. This vastly streamlines the paperwork and hassle involved with these services — all made possible by the huge number of innovations in the blockchain ecosystem.
“It’s exciting to see a local partnership which benefits both parties and helps bring mass adoption to the blockchain space,“ said Miles Bradley, Co-Founder and CFO at Envision. “Leveraging Curtin’s Blockchain Lab will fast track our development and adoption making sure we are in the best position possible to achieve our goal of supporting the creators who have succumbed to greedy Web2 solutions for too long.”
“The revenue that Web2 solutions can generate via stock media creators suggests that the market is ripe for disruption, with the knowledge and experience Curtin’s Blockchain R&D Lab brings to the table Envision will be strongly positioned to be a market leader,” added Vidy Potdar, Director of Blockchain R&D Lab at Curtin University of Technology.
Notably, Potdar completed his PhD in 2006 on Digital Image Watermarking and Steganography, making the partnership between Curtin University and Envision even more of a no-brainer.
Curtin University’s Blockchain R&D Lab focuses on solving real-world industry problems using blockchain along with other disruptive technologies. The lab is a hub for the research, education, development and implementation of blockchain solutions and will collaborate with other laboratories at Curtin and industry solution providers to develop breakthrough innovations.
Envision is a Web3 solution dedicated to giving stock media creators the power and control they deserve. Deriving utility from NFT and blockchain technology, Envision facilitates the peer to peer exchange of stock media content where content creators market and sell direct to consumers, avoiding hefty fees, clunky contracts and the need to forfeit rights as per current Web2 solutions.