Announcing Lagrange as the Winner of Chainlink Spring 2023 Hackathon.
With 14,000+ registrants and a record-breaking 498+ project submissions from teams in 100+ countries, Chainlink Spring 2023 hackathon set a record as the largest Chainlink Hackathon to date.
Chainlink provides a wealth of resources and support for attendees to build their ideas. The increase of more than 40% of new registrants who are not quite familiar with building with blockchain is a remarkable milestone of the event.
The Lagrange Team was inspired by the growing need to securely manage data ownership and access in the era of big data and machine learning while ensuring the rightful owners are rewarded. By leveraging blockchain technology, Data NFTs address the challenges associated with data ownership and licensing.
We built the DataNFT for Dataset Licensing empowering data owners to tokenize their datasets into NFTs for increased control over data access and usage. By issuing licenses embedded in these DataNFTs, owners can set parameters around the scope, duration, and terms of data usage with the goal of better safeguarding their intellectual property.
Our project also seeks to enable data owners to license their datasets to create new revenue streams. The unique idea made the Lagrange team the winner of the Chainlink Spring 2023 Hackathon with a $15,000 prize.
What it does
DataNFT for Dataset Licensing is a platform that allows dataset owners to tokenize their data and grant access to users via NFTs. Owners of DataNFTs can issue licenses, which allow them to define the scope, duration, and conditions of data usage, ensuring that their intellectual property rights are protected.
Data NFTs provide a mechanism to create licensing agreements and enable data owners to generate revenue through licensing fees.
How it works
- After uploading dataset to Lagrange, users can request DataNFT
- The smart contract will send a request to the DON
- The DON will call the Lagrange API
- The NFT metadata is generated and uploaded to IPFS
- The CID is returned to the smart contract and used to create new dataNFT contract.
What we learned
We learned about the intricacies of data licensing, NFTs, and the potential applications of blockchain technology in the data ecosystem. We also gained valuable experience in developing smart contracts and integrating them with decentralized storage solutions.
DataNFT for Dataset Licensing uses Chainlink Functions to verify ownership of platform assets and connect the platform to users (or LLMs) who want to license data. This ultimately creates a trust-minimized process that seeks to verify license ownership, as well as generate and distribute data licenses
What’s Next for Data NFT with Chainlink Functions
We plan to expand the platform’s functionality by integrating more data sources and types, developing advanced licensing models, and exploring partnerships with data marketplaces to increase adoption and reach. Also develop datatokens, so data owners can monetize their licenses.
Eventually, we would like to support multiple chains and mainnet deployments. Since Chainlink Functions is still in BETA, we will follow the progress closely to make this happen.
About Lagrange
Lagrange, a pioneering Web3 project on a mission to reshape the landscape of GitHub by empowering developers with access to all the tools for Web3 development, is a groundbreaking platform built to enable a thriving ecosystem for Web3 applications development, integrating advanced features such as code hosting, wallet plugins, storage service, computing service, and RPC service.
About Chainlink
Chainlink is the industry-standard Web3 services platform connecting the people, businesses, and data of today with the Web3 world of tomorrow.
