Worried about how AI value capture and redistribution can truly happen amidst the unbalanced power dynamics across the value chain—from data creators to labelers, to model creators, deployers, and users?

Proud to share that the 𝐑𝐞𝐟𝐞𝐫𝐚𝐛𝐥𝐞 𝐍𝐨𝐧-𝐅𝐮𝐧𝐠𝐢𝐛𝐥𝐞 𝐓𝐨𝐤𝐞𝐧𝐬 (𝐍𝐅𝐓𝐬) 𝐬𝐭𝐚𝐧𝐝𝐚𝐫𝐝, 𝐄𝐑𝐂-𝟓𝟓𝟐𝟏, CSIRO’s Data61 researchers (Shiping Chen Xiwei (Sherry) Xu et al.) proposed has been recently adopted into the Ethereum ecosystem. This is a significant step forward in addressing these challenges.

NFTs minted with existing standards represent standalone entities in the world (e.g., an artwork, a copyright, or equipment in the metaverse). However, they do not reflect the reality that many things in the world are related to or depend on each other. For example, a film is based on a novel. ERC-5521 enables a new NFT to refer to one or many existing ones, capturing these relationships. Thinking of AI, consider the value redistribution potential:

– An AI model that relies on high-quality, licensed training data to achieve its effectiveness, accuracy, and compliance. With ERC-5521, an AI model could be represented as an NFT that “references” its training datasets, ensuring transparency, provenance, and trustworthiness in its underlying data sources.

– A referable AI model that builds upon preceding models in a lineage, akin to ERC-5521’s ability to link NFTs. Each reference strengthens the AI’s capabilities, compliance, and reliability while highlighting the inheritance of value across the chain of development.

– Addressing synthetic content risks through provenance. ERC-5521 can capture dependencies in synthetic content generation, providing verifiable references to underlying datasets and models. This ensures traceability and supports accountability for ethical and responsible AI applications.

Explore the details of ERC-5521 and its potential impact:
https://www.r-nft.io/

We’re excited about the possibilities this opens for a more balanced and fair ecosystem of content and AI value distribution. ERC-5521’s application space is limited only by our imagination.