Each patent or other IP object can be converted into a unique non-interchangeable token. Such an NFT patent contains basic information about the copyright holder, priority date, jurisdiction, and other attributes. Tokenization simplifies transactions with rights: they can be transferred or sold as easily as cryptocurrency, with instant settlement and without intermediaries. In addition, an entry in the blockchain provides an immutable proof of authorship and ownership history. Experts note that IP tokenization simplifies licensing, commercialization, and asset valuation, increasing trust between the parties to the transaction.