Introducing Jurat Ordinal NFTs
What Are Ordinals?
JTC Ordinals are NFTs inscribed, stored, and traded on the JTC Network. JTC gives users access to legal recourse in the event of hacks, frauds, mistakes and lost private keys. In addition to its consumer protection features, JTC also catalyzes many blockchain use cases that require access to the legal system such as regulated commercial transactions, digital copyright protections, and the tokenization of real-world assets (RWAs).
Users who mint Ordinals on JTC enjoy the same features as their BTC counterparts but also have the crucial ability to incorporate licensing, copyrights, and other legal agreements that they can activate on-chain.
JTC Ordinals Usher in a New Era for Tokenizing Real World Assets
Real-world tokenization needs an effective way to enforce real-world legal rights. Otherwise, no one can rely on the tokens and the system grinds to a halt. That’s where JTC fits in. Ordinals on the JTC Blockchain offer an upgraded approach to tokenization that affords direct access to legal recourse through court-connected blockchain technology. The result is that individuals, attorneys, and asset management projects can create tokens that carry out the real-world legal rights that they intend to tokenize.
JTC Ordinals Protect Digital Artists and Provide a Differentiator for Collectors
NFTs provided digital artists with a revolutionary new tool to monetize their works. A prime example is Beeple’s ‘Everydays: The First 5000 Days,’ which fetched an astonishing $69 million, drawing global attention to NFTs and digital art.
Unfortunately, after flocking to mint their works as NFTs, digital artists soon discovered some significant limitations in the technology. Artists were unable to protect their legal rights as the creator and hackers’ were pulling massive art heists and putting whole collections at risk.
Limitations of Standard NFTs
- Over $100 million of valuable digital art ranging from Board Ape PFPs to one-off originals were lost to hacks, scams, and smart contract exploits in 2022 alone. The victims of these scams and hacks generally have no access to legal remedies against the criminals after suffering these painful losses.
- Licensing agreements are often unclear or missing entirely.
- Royalty collection is dominated by centralized marketplaces that take disproportionately large portions of the profits or refuse to collect them at all.
- NFTs can be easily plagiarized or displayed in violation of the artist’s copyright.
- On-chain licensing agreements are inscribed directly into the Ordinal metadata, giving certainty to both the creators and the collectors. Licensing information for each ordinal can be viewed through Jurat’s ordinal explorer.
- Royalty requirements can be specified on-chain, giving buyers clear notice and artists more control.
- In case of a scam or hack, owners can recover their digital art through the courts with Jurat’s crypto consumer protection technology.
JTC Ordinals and Digital Art
The JTC Goats Collection
The JTC Goat is an original series minted by and for members of the Jurat community.
Most of the Goats will receive Inscription ID Numbers below the 10,000 mark, increasing their rarity and value. They have been used to reward the most active members of the Jurat community.
Get active in the Jurat Discord, Telegram, or X, and you could be invited to mint a JTC Goat!
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What People Are Saying About Us
One of the most innovative and visionary proposals… The revolutionary implications of having changing legal criteria acknowledged and acted upon through smart contracts is groundbreaking.
Once the mass population believes that their rights could be protected and enforced on the blockchain, the mainstream adoption of blockchain would be underway.
[Jurat] will provide a very strong competition to the ‘code is law’ philosophy when deciding whether to side with a court order or with a smart contract’s ‘blind justice’ by just doing what it was programmed to do.
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