NIMs ecosystem is the communities and partners, and an important part of NIMs MetaVerse – a decentralised Internet where those who create the value also capture the value.
It’s a currency like US Dollar, Euro and British Pound. The significant difference is that CREATIVES is more resistant to inflation as it is anchored in Internet’s lifeblood – content.
CREATIVES is fungible and in public use as payment for almost everything from music streamed subscriptions to FOREX speculation. CREATIVES is governed by New Internet Media (NIM) and are represented by the alias copyrightflow.eth address (0x16922cf675331F2d9dc719B1A916F8D829B04dCd), a guarantee that the transaction is handled by NIM. CREATIVES will reflect the value of royalties represented by Royalty Tokens.
Royalty Tokens (ROY)
Royalty Tokens are “credit tokens” always representing the royalties paid or to be paid by DSPs and others using copyrighted content. Only Copyright Owners/holders can receive Royalty Tokens, and they are the only ones that can exchange them.
If you are in an English pub and go to the bar disk to order a drink, you pay for it before drinking it (user-centric). Or, if you are “running up a tab” in the pub, you leave your credit card with the bartender and pay for your drinks and a meal before you leave (service-centric).
Access to NIM content (licensing) has to be paid for with Royalty Tokens and access to NIMs services (registration, trading in copyrights and NFT sells etc.) has to be paid for with Copyrights Token.
NIM Utility Token (NUT)
In principle, everybody will have access to NIMs services. However, just as your meals and drinks in a pub have to be paid for, so does NIM services. Just as you leave your credit card at the bar, so does NIM has to have a guarantee for payments. With NIMs distributed technology, that is easy and why we created Copyrights Token.
It’s like NIMs Christmas lunch at our favourite pub. All employees get tokens (coupons) they can use for payments in the pub. If they invite someone (husband/wife), they have to buy extra tokens. The tokens are only valuable if used in that particular pub.
As NIMs services are fueled by content (starting with music), access to that content must be paid. NIM divides the access into two main categories:
- Copyright owners/holders (NIMs team)
- Clients/customers/partners (husband/wife)
Royalty Tokens can only be exchanged to fiat (USD, GBP, Eur etc.) or CREATIVES When Royalty Tokens is exchanged to CREATIVES, the same amount as CREATIVES in Copyright Tokens will also be transferred to the Copyright holder’s wallet for use in NIMs services. Consequently, if you are a copyright holder, you will receive Copyright Tokens for free. You can use it to register 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 with Copyright Tokens to access NIMs services.
Clients/customers/partners to NIM
Access to the infrastructure with a consensus mechanism based upon content servers, software, security, and administration comes at a cost (just as running a pub has a cost) To ensure we have a certain level of seriousness from our partners, there has to be a minimum of 5000 Copyright Tokens in the active wallet using the service just as you would leave your credit card behind the bar to guarantee payment before you go.
To be clear:
- CREATIVES is used to pay for anything you need to buy on the internet.
- Royalty Tokens is used to pay for licensing content.
- Copyright Tokens is used to buy NIMs services.