CREATIVES (CREATIVES )
CREATIVES is a digital currency backed by the very lifeblood of the Internet – content and as such will reflect the value of royalties represented by Royalty tokens.
The copyright owners can exchange Royalty tokens into CREATIVES or any fiat currency (USD, EU, GBP, SEK) of their choice.
Royalty Tokens are “credit tokens” always representing precisely the amount of Euro in escrow. It’s created (minted) when Euro is deposited in the bank and deleted when it’s paid to the copyright owner(s) (burned).
Royalty tokens can only be exchanged to fiat or CREATIVES – if exchanged to CREATIVES, a transfer of Euro representing the value of Royalty tokens will be transferred to NIM escrow bank account from IMF escrow bank account.
NIM Utility Tokens (NUT)
As NIMs CopyrightChain is a Power of Content (POC) network fuelled by content (starting with Music), access to that content must be paid.
NIM divides the access into two main categories:
1. Copyright owners (creators/songwriters) or holders (representatives and investors)
2. Clients/customers/partners to NIM
When Royalty Tokens (ROY) is exchanged to CREATIVES (CREATIVES), the ROYs is burned (deleted) when the equivalent amount in Euro is transferred to NIMs escrow bank account. At the same time, the CREATIVES will (after the current price swap/exchange) be transferred to the holder of the wallet.
The exact amount as CREATIVES in NIM Utility tokens (NUT) will also be transferred to the Copyright holder’s wallet for use in NIM.
Consequently, if you are a copyright holder, you will receive NUT for free when exchanging ROYs to CREATIVES .
NUTs are used when a creator/songwriter/author/composer registers a new song at any of our partners or directly with us.
If you are NOT a CopyrightShares holder (i.e. receiving royalties), you will have to pay for NUTs to access CopyrighChains and the NIM ecosystem services.
Clients/customers/partners to NIM
Access to the infrastructure with a consensus mechanism based upon content servers, software, security, and administration is charged.
In principle, everybody will have access to the CopyrightChain and the Music as a Service concept.
Every operation through NIM’s APIs has a specific price. To ensure we have a certain level of seriousness from our partners, there has to be a guarantee escrow of NUTs.
We are setting the different levels as we speak. However, there has to be a minimum of 5000 NUTs in the active wallet using the services.
The CopyrightChains ecosystem uses Power of Content as “staking” for consensus.
CopyrightID is proof that a legal entity (person or company) has registered an intangible asset (creating a uniquely identifiable reference) representing copyright or intellectual property right.
Royalty Tokens are the vehicle for the payment of royalties to holders of CopyrightShares.
CREATIVES are the public representative for Royalty tokens and are in free trade.
NUTs is designed for long-term supporters and is non-transferrable as it is in direct relation to the content that is ingested into CopyrightChains
CopyrightShares are non-fungible assets to that CopyrightID, and Royalty Tokens are fungible assets representing a CopyrightShare’s royalties.
NIM Utility Token (NUT) whitelist
The NIM team has delayed the NIM Utility token (NUT) public sale (IDO). The Copyrights token will fuel the new NIM infrastructure, enabling a range of services to bring the mission of an Internet where those who create the value also captures the value – closer to reality.