Rarestone Announces Investment and Strategic Partnership With Ringfence
In 2023 alone, over 5 billion images were scraped from the internet—without consent—and used to train AI tools. As these tools become even more ubiquitous, IP rights have become increasingly complex. Already, AI companies are claiming that training Large Language Models (LLMs) on work without creators’ consent comes under Fair Use, while the same creators are fighting to have their rights protected and their work rewarded.
Web3 platform Ringfence is built to solve this, providing the infrastructure and tooling for creators to store, protect, and monetize their media. Creators can ‘ringfence’ their work, authenticating it with blockchain-backed metadata tagging, providing digital provenance for the work and embedding information about the original creator and work within the metadata itself.
Creators wishing to monetize their work can license it to AI, using it to train models and create new AI-generated content (AIGC) based on their creations. Ringfence also brings a suite of features for creators, from free cloud storage to sophisticated image generation and even omnichain minting powered by LayerZero’s ONFT standard.
For Rarestone, this investment and partnership brings an opportunity to contribute strategically to Ringfence’s founding and future. Rarestone will be incubating Ringfence, offering full strategic and marketing support, as well as its roster of partners and its extensive network to enable Ringfence to successfully reach its public beta and upcoming token launch in Q1.
As with any nascent tech, generative AI tools present numerous opportunities—and challenges in equal measure. The Rarestone team recognizes the need to protect creative rights and give back creative control in the face of muddied copyright and IP laws, and sees that blockchain is a viable way to achieve this. We are excited to support Ringfence’s long-term vision and look forward to an extensive partnership for the betterment of creators.
“We’re grateful to have Rarestone Labs support Ringfence with a partnership that is more than just an investment. As a strategic partner, Rarestone will prove invaluable in aiding our go-to-market strategy and supporting us with their extensive network,” says Whitney Gibbs of Ringfence.
You can learn more about Ringfence here: