The problem TokenCraft solves

Problem

Current design marketplaces leave creators underpaid and undervalue their work. Limited revenue sharing models and rampant piracy stifle creativity and hinder the growth of high-quality design assets. This project aims to bridge this gap by leveraging web3 technology.

This statement effectively addresses two key issues:

• Unfair creator compensation: Existing platforms often offer limited profit sharing, leaving designers earning a small fraction of the value they create.
• Piracy and lack of ownership control: Design content is easily copied and distributed illegally, depriving creators of rightful earnings and discouraging investment in creating top-notch assets.

Our solution

By tokenizing design files, creators gain ownership and control over their work. Dynamic pricing based on token value ensures fair compensation, with more popular designs generating higher revenue for creators. Additionally, blockchain technology provides secure storage and verifiable ownership, significantly reducing piracy and protecting creator income. This empowers designers to focus on creating exceptional work while earning what their talent deserves.

Challenges we ran into

• Scalability and User Interface: Maintaining a user-friendly interface while ensuring scalability for a large user base can be a challenge.
• Liquidity and Adoption: Attracting a critical mass of designers and users is crucial for a successful marketplace.
• Regulation and Copyright Protection: Clear legal frameworks are needed to address copyright infringement and ensure user protection within a decentralized environment.

All these challenges were overcome to a level at the end by using ZK proofs with encryption to store the metadata of the design file