Tokenomic Architecture
Rejuve utilizes a novel tokenomic architecture in order to ensure that network members receive their fair share of the proceeds gained from the use of their data. Rejuve employs the use of 3 different tokens: 1 fungible (utility) token and 2 Non-Fungible tokens (NFTs).
- RJV Utility Token - The Rejuve (RJV) token is the main means of transaction of data, and is also a representation of membership to the Rejuve Network. RJV tokens are earned in exchange for data contributions via the Rejuve: Longevity mobile app, and are used to purchase vouchers redeemable for deep discounts on products and services.
- Data NFT (Rejuve ID) - NFTs have become wildly popular in art and gaming, however, Rejuve is using NFT technology in a whole new way, to keep track of intellectual property. A data NFT is minted for every member (individual or entity) and is conncected to your Rejuve ID. These NFTs act as a key to unlock data permissions, and keep track of all usages of your data in prospective products, leading to our final token
- Product NFT - The product NFT is where the magic happens. A product NFT is minted at the time when research and studies transition to a prospective product. While only one is minted per product, its shares are divided up amongst all the contributors to the products via sharding, connected through to the Data NFT. One can only sell 50% of their product NFT shards, ensuring that lifetime benefits for all proceeds derived from said product go to them forever! For more in-depth tokenomics, please see the Tokenomics section of the Whitepaper.