Despite a generally challenging market for cryptocurrencies, the anticipated ETF approval is positively impacting Bitcoin‘s performance. Meanwhile, altcoins are showing signs of weakness, with the only strategy being to announce significant news to stand out. Polygon (MATIC) is adept at this, as evidenced by its recent developments.
Fox Corp, one of the largest media companies in the US, has launched a new licensing solution called Verify on the Polygon network. The protocol will be used by Fox’s various brands, including Fox News and Fox Sports, to manage licenses for their content using artificial intelligence.
The Verify protocol on Polygon will negotiate licensing agreements, and Fox is also in talks with other media companies to use the protocol. This initiative aims to help companies benefit from the protocol during negotiations with AI firms.
The issue at hand is that AI language models are exploiting open-source internet content, leading to the unauthorized use of licensed materials. However, Verify could solve this problem by providing a structured way to process large data sets and manage complex licensing processes.
Media companies can register their content on the platform to confirm ownership. Once verified, AI platforms that support large language models, such as ChatGPT or Bard, can legally use the content for training purposes after paying the necessary fees. This system could also increase revenue for companies using the Verify protocol, benefiting not just Fox’s group but any participating entity. Fox was one of the first major media firms to invest heavily in blockchain tools for entertainment in 2021, and although Polygon’s selection hasn’t yet affected its price, potential long-term impacts are anticipated.