Autograph NFT White paper
A project by ThinkCloud Technology's flagship product, SelfieSign
I. Company History
ThinkCloud Technology is based in Taichung City, Taiwan, founded in 2012 by Mr. Charles Wu, Superintendent of Lian An Hospital Taiwan, built with the objective of optimizing the operation process in the medical field through digitalization.
In line with the trend of electronic medical records in Taiwan since ten years ago with the inspiration from tennis players signing their autographs on a camera lens after the game, ThinkCloud Technology has developed a dynamic biometrics signature solution for a more convenient and trusted way to send, sign, and track documents electronically, SelfieSign. With ThinkCloud’s patented technology, every digital signature retrieved by SelfieSign includes a video recording of the signing process and audit trail in a form of an SVS file, serving the purpose of fully expressing the signer’s willingness to sign and enhancing the undeniability of signing, guaranteeing the document is signed by the person intended, making it secure, authentic and non-repudiable.
After 10 years of journey with proven track records to increase security, efficiency, eco-friendliness, reduce cost, and solve the overworked medical staffing problem, ThinkCloud Technology has served not only more than half of the medical centers in Taiwan for patients’ consent forms but also in other fields such as finance, real estate, security, insurance, bank, IT, and e-government.
II. SelfieSign Milestones
With over 200,000 documents sent and signed in a month, 27 invention patents in Taiwan, China, Japan, Korea, Singapore, U.S., and Europe, and being compliant with ISO27001 and eIDAS advanced e-signature (AES) standards, SelfieSign has been achieving recognitions and awards from countries across the world, bringing signature to another level of security and efficiency for various industries.
Gold medal winner of ’Technology Foresight’ category in the 2022 Young Award, Taiwan
KGI bank adopted SelfieSign for their digitalized bank account opening process
TransGlobe Life Insurance adopted SelfieSign for their online insurance application
Taichung Bank Insurance Brokers adopted Selfiesign for their digitalized insurance application
Silver Prize of Startup Terrace Global Hack 2020 Digital Transformation Forum & Startup
Yuanta Securities adopted SelfieSign
Registered as (Information Security Service Agency) by Industrial Development Bureau, MOEA
Kaohsiung Medical University Chung-ho Memorial Hospital, Hualien Tzu Chi Hospital adopted SelfieSign
Gold Medal of Future Commerce Awards by Business Next Magazine
New Finance Application Award at HACKIDB Smart Technology Application Contest
Selected by Paris-based incubator Le Swave
Rated as Top 20% Startups by France’s Early Metrics
ISO 27001:2013 standard certified
Cathay Life Insurance, BSSOTA Information Co., Ltd, Asia Money Fintech
Company, Changhua Christian Hospital. Taipei City Police Department adopts SelfieSign
Winner in the Cloud Service category of Young Generation Awards
Winner of Taiwan Region, Create @ Alibaba Cloud Startup Contest, China
Selected by Singapore’s NTUC Income “Income Future Starter” accelerator program
Runner up in Fenox Venture Capital innovation competition
China Medical University Hospital, the first hospital to adopt SelfieSign
Two gold awards from the Ministry of Health and Welfare, Taiwan, for paperless movement and innovative application
Finalist of Create @ Alibaba Cloud Startup Contest, China
Selected by France’s Young Enterprise Initiative (YEI) accelerator program
Obtained invention patent of U.S. electronic signature
Gold Medal, Concours Lépine Paris, France
Award Winner, ICT Month Innovative Elite
Finalist of the Asia Pacific ICT Alliance Awards (APICTA) Awards
Obtained invention patent of electronic signature
III. NFT Surge
Non-fungible token is an asset in the digital world that is not interchangeable and irreplaceable. In comparison to cryptocurrency, both of them are issued on a blockchain, but cryptocurrency is fungible, while NFT is not, any kind of NFT is the “one and only”. With all this exclusivity and uniqueness, NFT has been a rising media for both the creators and collectors of art, ranging from drawings, music, pictures, etc.
While NFT is also like anything digital that is downloadable and can be seen online for free, people are willing to spend a fortune on it because NFTs are designed to give something that can’t be copied, which is the ownership of the work. Each NFT is tied to some unique data, typically a digital content file of some kind (or reference thereto), and governed by a “smart contract”. Like the concept, everybody can buy a copy of the Mona Lisa painting, but the real one is only in the Louvre.
NFT has been around since 2014, but a sudden surge happened in 2021. The total NFT sales this year hit $25 billion compared to $94.9 million the year before. This is also the start of celebrities and big brands joining the trend. From luxury brand, Gucci to fast food restaurant chain, Taco Bell, from basketball player, Steven Curry to media personality, Paris Hilton, and many more.
According to the Financial Times and Chainalysis in 2021, approximately 360,000 NFTs owners are holding around $2.7 million in NFTs between them. Most NFT prices are transacted with the average ranging from just USD150 to USD900, the most expensive NFT is sold for 91.8 million USD.
According to nonfungible.com, it is an increase of around 21,000% from 2020, with collectibles and gaming leading the surge, while there are still many categories such as art, music, trading cards, domain names, memes, virtual fashion, avatars, real world’s assets, etc. Yet, we are still on the tip of the iceberg. The potential use cases of this technology are abundant. In the next coming years, there must be a lot more to come, including SelfeSign Autograph NFT Collectibles.
IV. Autograph Collectibles
When we meet somebody influential or famous, it’s natural to want a physical memory that proves this is related to the person we met, and an autograph has served this purpose since the early nineteen century. Apart from serving as a remembrance, it can also create a profound connection to the person that we met.
Some of the most popular categories of autographs are presidents, athletes, movie stars, artists, etc. An autograph offered paralleled connection to some of the most fascinating characters in history, carrying not only emotional value but also historical value, and because of the high value, it also carries a monetary value.
The industry is worth billions of dollars with vast numbers of autographs sold every year.
The value of an autograph differs according to a few factors such as how influential the signer is and how available the autograph is in the market. For example, William Shakespeare’s signatures are considered the most valuable since there are only 6 in the world, and an autograph of a deceased celebrity tends to have the “death factor”, increasing the value of an autograph since the signer is dead leading to the scarcity of their autographs because there will be no other new ones on the market. Because of the high value, collecting and selling autographs for full profit without keeping them as personal souvenirs have been a profession for several people too, called an autograph professional trader.
But just like any profitable market, there is always a threat of forgery or duplication, and so does in the autograph market. Many forgers seek to profit by selling forged autographs. It is hard to verify an autograph's authenticity, though possible. Forgery has become worrisome it has done so much harm to collectors. With this problem arising, there are several reputable 3rd party autograph authentication such as Beckett Authentication and James Spence Authentication (JSA).
V. SelfieSign Autograph NFT Collectibles
SelfieSign Autograph NFT collectible is the web 3.0 way of autograph collecting. Utilizing SelfieSign patented technology, every autograph collected by the SelfieSign app will be formatted as an SVS (Selfie Video Signature) file, with a video recording of the person signing together with the digital signature as the whole package of the signature.
Inspired by the Australian tennis championship players that were originally asked to sign on the camera lens, the sparkling idea of the innovative SelfieSign, SelfieSign Autograph NFT enhances the value of the signature due to the authenticity proven, solves the problem of autograph fraud on the web transaction, levels up how meaningful the autograph is since it is a live video of the celebrities signing instead of a signature on a still background, and digitalizes the whole idea of autograph collectibles.
Once the user has obtained the SVS file, it can be converted to an NFT with the minting process to become an SVS.T file. The SVS.T file will be ready to either just be collected as a digital asset or auctioned in the market. When the selfie video signature is purchased, the accessibility of the file will be solely just for the owner.
SelfieSign Autograph NFT Collectibles is bringing the autograph collecting activity to a higher level with the blockchain technology of making each NFT minted non-fungible, the value of the autograph itself combined with the video recording of the signing process which is our breakthrough in the NFT market, the art value from the template created by artists, along with the unmistakable authenticity of the autograph.
Log in interface
Convert template to QR code to access from phone
Let your favorite celebrity sign
Ready product of the SelfieSign Autograph NFT
VI. About.SVS & SVS.T
SVS file is a patented technology by ThinkCloud Technology, a video containing 4 biometric traits which are image, video, voice, and signature in every digital signature obtained, specific to each signer as they sign, ensuring non-repudiation and immutability of the documents signed, minimizing the risk of frauds and disputes.
This SVS technology obtained an innovation patent in 2015, with patents approved in the USA, China, and EU, and awarded a gold medal at Concours Lepine 2016 in Paris. It is legally binding and complies with the definition of an Advanced Electronic Signature under the eIDAS regulation, as well as the Electronic Signatures Act in Taiwan.
SVS.T is an SVS. file integrated with blockchain technology, the format used for auctioning on the marketplace as an NFT once a smart contract is already agreed upon by the user and SelfieSign.
Once the file is already on the marketplace, interested buyers can see pictures of the autograph attached with the link to view the video signature. When the NFT is sold, the new owner will get the SVS.T file, check their MetaMask, and decrypt the file. Now, this SVS.T file will be solely owned and only accessible to the owner, previous owners and other people will have no more access to this file.
VII. Business Model
A smart contract will be signed in every SVS file minted into SVS.T. With every NFT transacted, the revenue will be divided according to the smart contract as follow (Subject to changes according to project development)
SelfieSign Autograph Owner 85%- 90%: Subject to changes according to the signer’s contract situation with SelfieSign.)
Charity 2%: SelfieSign has always been holding the value of contributing to making the world a greener place. Initially, the solution SelfieSign itself is created to support the paperless movement. That’s why contributing to the environment remains our main concern in every project.
Even though blockchain technology has gradually evolved from proof of work to proof of stake algorithm which leads to less energy consumption, climate change, carbon emission, and environmental destruction remain the nowadays most threatening global issue. Aligning with our value to take part in making the world a better and greener environment, profit from SelfieSign Autograph NFT transaction will be partly utilized for the green movement.
Contracted Celebrities (Signer): Depending on the situation with the contracted signer, the sales profit is subject to vary.
Template designer 4%: This is for art designers and third parties such as agencies, clubs, member associations, commercial affiliates, other entities, organizations, or individuals.
Transaction fee 2.5%
Perpetual Royalty (SelfieSign Project) 4%
Minting fee: Subject to changes according to the platform and minting charges
VIII. The Future of SelfieSignNFT
SelfieSign Autograph NFT is our stepping stone to achieving even bigger things in the future.
Digital Arts Autograph : When a designer has their own art, the designer can directly sign on the art and upload it as an NFT
eStamp NFT: In Taiwan, Korea, and China, people are used to using stamps as a more formal and legal entity together with signatures for transactions between cooperates and governments. eStamp NFT digitalizes the wet stamping method, combining it with blockchain technology, highering up the security. ThinkCloud Technology is working on this concept with Taiwan Business Bank and has been accepted by the sandbox program held by Taiwan FSA.
As for the community, we are planning to:
Have a subsidiary of the company solely for the NFT project.
Providing shares for parts of the community
1. Celebrities as signatory from different fields and area
2. Sponsored brands and colleagues.
3. Early birds NFT owners bringing value to this project and the community
IX. Timeline of the project
- Website launching: End September 2022
- White paper release: Early October 2022
- SelfieSign Autograph NFT SaaS ready to
use: End October 2022
- First batch minting: Early November 2022