Nevermined's Payment Plans

Payment Plans is a new concept that builds on blockchain and NFT technology, but provides much greater utility and flexibility.

Traditionally, NFT technology has been applied to represent a unique asset, 1-to-1. For example, a Bored Ape NFT has one JPEG for each token. While the 1-to-1 nature of NFT technology works well for things like static digital art, event tickets, etc., it doesn’t work well when a use case requires access to multiple assets.

Payment Plans group buckets of assets

In the case of AI, a workflow might require access to dozens of assets (i.e. data and services). If each dataset and analysis service was represented by an NFT, this would correspond to dozens of onchain confirmations, performed via your wallet, to orchestrate the end-to-end process. The result? Horrendous UX.

Instead, Payment Plans facilitate the creation of buckets of assets under one token in a 1-to-many relationship. In the case of AI, now one Payment Plan can represent multiple datasets, analysis services, models, etc., to be orchestrated in an AI service pipeline that produces an inference.

Payment Plans are time-restricted

In addition, Nevermined has added the ability to add a time-related parameter to the Payment Plans and its related assets. This means you can tokengate access for 1 hour, 1 day, 1 month, 1 year… The sky’s the limit!

The result?

Much greater usability and a big step change in overall utility.