Seung Yoon Lee - How Crypto Could Finally Unlock an $80 Trillion Asset Class
1. Intellectual Property as a Massive Asset Class
Seung Yoon emphasized that intellectual property (IP) represents a colossal asset class, likening ownership of valuable IP to owning Manhattan real estate due to its potential for generating consistent yields. He highlighted how every piece of IP, whether it's a character like Pu Penguin or a Justin Bieber song, can provide reliable income over time, particularly as the influence of AI continues to expand.
2. The Impact of AI on IP Value
According to Seung Yoon, the race in AI technology will increasingly elevate the significance of intellectual property. He pointed out that as more streaming platforms arise globally, the value of existing IP will also rise, further emphasizing the need to understand and leverage these assets effectively in the AI era.
3. Challenges in Unlocking IP Assets
Seung Yoon shared crucial insights on the hurdles faced in accessing and maximizing IP assets. He pointed out that there is currently no liquid market for IP assets, making it difficult for creators to monetarily benefit from their work. This lack of clarity and liquidity in IP ownership creates challenges for developers interested in utilizing these assets, adding substantial inefficiencies to the system.
4. Innovations in Tokenizing IP
Seung Yoon introduced the concept of tokenization as a solution to unlock IP assets. By tokenizing these assets, they can be traded like stocks, increasing liquidity. Through this approach, he aims to allow creators to easily manage their IP, enabling them to collaborate without the need for lengthy negotiations or legal complications that are common in traditional IP dealings.
5. Structuring IP for Creative Freedom
Another key point raised by Seung Yoon is the necessity to program IP into a flexible format. He described his commitment to creating systems that allow creators to use existing IP without unnecessary barriers, thus promoting creativity. This programming approach would effectively turn IP into modular components anyone can utilize, similar to "Lego pieces," dramatically simplifying the creation of derivative works.
6. Bridging Data and AI through IP
Seung Yoon noted that the future advancements in AI technology will rely heavily on high-quality data, which often stems from structured and well-defined IP. By leveraging creative IP as a primary input for AI models, he advocates for an ecosystem where human-generated content is respected and fairly compensated, suggesting a potential shift in how AI is developed and trained.
