EMPOWERING CREATIVES, EVERYWHERE.
Instantly mint, list, trade & sell
Unique Asset Tokens (UATs) -
Next-Gen NFTs, with virtually no risk/fraud or costs.
Get creatives paid for their work.
Okanii’s UAT solution provides all creatives with the perfect platform to get paid by tokenizing, selling, and trading their digital creations to anyone instantly.
Mint, list, sell, trade UATs a fraction of the cost of current NFT marketplaces.
Every UAT gets validated & verified, eliminating fraud.
On a global scale
The 'starving artist' is not just a cliché, unfortunately, it is a reality across all sectors including visual artists, performing artists, musicians, interactive media, designers, athletes, and various other creatives. Many artists and virtuosos dedicate their lives to their art often making the choice to sacrifice their material well-being.
In the music industry, the vast majority of artists are never heard and never have an opportunity to share their passion, talent, and work with the world. Even worse, those that are 'chosen' by the industry only receive approximately 10% of the revenue from their works with the remaining 90% being consumed by the industry. This institutionalized exploitation structure has been in place for decades.
While DLT platforms have been solutions looking for problems/potential use-cases, they have unlocked a great use-case of letting artists digitize, distribute and sell their work directly to consumers. While this is a fantastic use-case, unfortunately, DLT architecture suffers from not being sustainable, scalable, or secure for NFTs.
Okanii wants to change this.
NFT problems related to underlying Distributed Ledger Technology (DLT) architectures.
While the NFT market is still in its infancy and has grown from zero to hundreds of billions in two short years. The NFT market is plagued with problems as a result of its dependence on DLT platforms.
DLTs are complex, cumbersome, and unsustainable platforms with high costs, (mining, consensus, transaction replication, etc.). Since NFTs are built on top of DLT architectures, they incorporate all the problems and cost structures of the underlying platform. This is why NFTs have minting fees, listing fees, transaction/gas fees, etc. DLTs are just too expensive to truly get creatives paid.
NFTs tethered to a chain
DLTs platforms are just distributed ledger systems –just like a general ledger of credits and debits. But the underlying 'digital record' resides on each separate 'book/chain'. So, these NFTs are also tethered to each 'chain platform' that they are created on. They are not free-floating assets that can be stored/traded/sold anywhere.
Since there are numerous siloed chains and marketplaces that are incompatible with each other, so are these NFTs which ultimately perpetuates greater fraud, as copies of an NFT can be made and listed on different sites.
Rampant fakes, forgeries, & plagiarism
The NFT market is full of fraud and fake NFTs. Some reports cite that the largest exchanges contain over 80% of fake NFTs. There are even bots that scroll the internet for images and NFTs to copy and post on multiple NFT platforms.
Artists are having their works stolen, criminals are making money selling IP that does not belong to them, and customers are buying worthless fake NFTs. And on top of all that, it is almost impossible to tell real NFTs from fake NFTS. The existing NFT/DLT model is a lose/lose/lose platform.
Unscalable with a complex carbon footprint
DLTs are not scalable due to the architecture chosen (mining, consensus, redundant nodes, etc.).
Bitcoin only supports 7 tps, Ethereum 100+ tps. DLTs are grossly insufficient for global commerce, let alone the tens of millions of individual pieces of art that could be NFT’d. And don't forget to add the controversial carbon footprint on top of that with a complex legacy of greenhouse gas emissions.
Recent articles on the NFT industry ...
NFT marketplace Cent, which sold Jack Dorsey’s NFT tweet for $2.9M, halts most NFT sales citing “rampant fakes and plagiarism” with users "minting and minting and minting counterfeit digital assets ... I think this is a pretty fundamental problem with Web3".
- Elizabeth Howcroft, reuters.com, Feb 12, 2022
This is a major problem not only for the NFT industry but for Web 3.0 and the metaverse. Okanii solves this.
Okanii’s DAT platform and Unique Asset Token (UAT) solution solves all the problems of NFT marketplaces as well as for Web 3.0. It's time to make an impact for good and give the power back to all creatives. Imagine the possibilities.
Mint, list, sell, trade UATs globally for a fraction of current NFT marketplaces.
Global governance & provenance
Every UAT gets validated and verified, virtually eliminating fraud.
No chain - Free-flowing self-contained UATs
Individual self-contained UATs can be held anywhere and traded either directly (P2P) or across marketplaces.
Digital cash for digital UATs instantly.
Quantum-proof individual tokens are unbreakable.
10M+ TPS, global platform for all global assets.
Each token is validated, not the person. Personal info is separated from the transaction. No fraud or identity theft.
Global governance model ensures valid UATs,
no counterparty risk.
Numerous loyalty programs possible.
Modular micro-services architecture provides limitless flexibility.
Global asset wallets hold everything in one place –
all transactions, UATs, receipts, points, etc.
Numerous business models
Okanii UAT platform can be licensed, PAAS or operated.
Open, secure APIs
Modern APIs secured with asymmetric cryptography.
Okanii platform supports programable data with each token.