GLOBAL TAL REGISTRY (BETA)
So what are Tals?
We've coined Tal TM as a term for a unit of ownership of new games IP. The name is derived from the dual meaning of talent, first in terms of who's doing all the work and secondly, as a throwback to the ancient currency of Talents. Finally, Tal is neatly part of the word digital. Think of Tals a bit like shares in a company except this is about shares in a creative IP. The creative founders decide how many to issue and allocate to all those involved with creating and developing the project. They set various rules about how Tals are further issued - for example if a new creative founder joins the team - and will normally work on a 75% majority requirement or something similar defined by actual team numbers. We're experimenting with three classes of Tal, Gold, Silver and Copper. Gold Tals carry the highest control (but no revenue entitlement) and allow oversight for dispute management so UKGTF will hold the Gold Tal. This will be helpful during the experiment we're running because we won't have the full levels of enforcement that a final deployment of smart contracts will have. Silver Tals are intended for creative founders as they carry voting entitlement. Copper Tals represent a third class that can be used for rewarding or incentivising others that contribute to the creative process. Silver and Copper Tals are equal in terms of revenue sharing so the proportions are decided by the number of Tals issued (voted by the Creative Founders). Tals can be named according to any metal with an atomic number so we can create additional classes in the hierarchy of Tals as we expand and develop this system.
How does the Tal Registry TM work?
Creative Founders agree how the Tals will be issued. They enter this via the Registry page. The transactions they submit will be recorded on a distributed ledger created by the Digital Catapult to create a Project Proof. Subsequent changes can be recorded in a similar way.
What happens next?
Tranzfuser presents a great opportunity to consider some of the issues that arise in a use case like this. With the Tranzfuser teams collaborating, we'll work through the process and integrate the learning in future versions. We plan to make this an open system that can benefit any creative teams in the future.
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