SINGAPORE, June 4, 2018 /PRNewswire/ -- BLMP - Blockchain Licensing Marketplace, is a blockchain company that is changing the nature of licensing arrangements for branded content. World famous startup guru, Casey Lau, is one of the founders of BLMP. Having previously founded a successful online company selling branded merchandise during the dotcom era, Lau's particular background is perfectly aligned with BLMP's most important goals surrounding licensing digital content.
BLMP is making the market for branded in-game and in-app items more efficient. This means reinventing the licensing process for branded virtual goods. BLMP's enterprise software platform, Air, solves many problems in the licensing industry through the innovative use of blockchain technology. Air provides transparency, traceability, and security for payment transactions resulting in making life easier for licensors when dealing with revenue splits. By utilizing smart contracts to create unique items and to transfer item ownership, Air enforces the rules of licensing branded digital content automatically.
The Hong Kong-based founder has worked in licensing, digital goods and related technologies in a wide array of different capacities, while also organizing events that bring together startup experts from around the globe. Lau is a technology leader known for his work in creating StartupsHK, a member driven community that spearheaded Hong Kong's startup ecosystem, as well as co-hosting the annual RISE Conference, one of the biggest technology conferences in Asia. Along with his past experience in licensing during the early 2000's, Lau's skills are geared to drive innovation in this industry.
Blockchain Licensing Marketplace
BLMP has identified modern licensing as a major barrier to the exchange of virtual goods, which would otherwise be among the most profitable modern commodities. Virtual goods are created when digital publishers submit requests to brands to use that brand within their digital worlds. When brands approve the request, the item is created digitally and is made available within the proposed digital platform. They also become available for sale to the users of those digital platform, whether it is video games, social networks, or other digital environments. For virtual goods to be created, brands and publishers must be able to engage in licensing agreements with one another. But because it is so difficult for them to create such agreements with confidence, many publishers & brands fail to do so, limiting the potential size of the branded virtual goods market.
BLMP streamlines the process of forming licensing agreements for virtual goods. BLMP's platform, Air, leverages blockchain technology that creates immutable chains of data, to empower publishers and brands to form self-enforcing smart contract licenses. Air automatically enacts the provisions that have been mutually agreed upon by both brand & publisher and instantly tracks and distributes the proceeds from sales of branded virtual goods. The very nature of blockchain ensures that branded content is never used without the brand's permission. By utilizing Air, BLMP guarantees that all parties can enter into licensing agreements confidently.
Smart contracts, tokenization, and other key features of the platform all rely on blockchain technology, which creates an immutable record of user activities and virtual goods features. Lau's experience in the licensing industry and as a technology thought leader give him the understanding to make BLMP's vision a reality. Lau has a detailed knowledge of the broader landscape of digital technologies, especially as he is the founder of RISE, one of the largest tech startup conferences in all of Asia. Not only will this help him identify other technologies that the platform can use, but also it gives him a sense of the challenges that new businesses face when finding innovative applications for cutting-edge technologies. He can help foresee any issues that BLMP may encounter and help guide the company through them, keeping it on the path to success.