Launching CREATIVES

As more requests for NIM’s services and project meetings are starting to grow, we are getting closer to the launch of CREATIVES.

We still need the first pilots of ingested content, but all are prepared and ready.

NIM has been working within the Metamask ecosystem and developing based on Metamask — working on the next generation called Metamask Flask (more on this later).

However, we want to point out that on 28th September 20022 the Metamask Portfolio was launched.

I suggest you take a look as it will make your day much easier if you have a lot of wallets and currencies (including NFTs)

There is a lot of information on how to use Metamas on the Internet, a good place to start is:

The CREATIVES ecosystem
CopyrightChains
CopyrightChains are developed, administered, and commercialized by New Internet Media and designed as Proof of Content (PoC).

In PoC, creators will participate after registering their content, known as “staking.”

The CopyrightChains PoC will incentivize the creators to produce high-quality content continuously, keeping the whole ecosystem robust in the long term.

The registration defines the creators of the copyright, the commercial rules of the PoC, and content metadata.

The CopyrightID identifies it.

A CopyrightID serves as a uniform identification of copyright within the CopyrightChain ecosystem.

It references international reference standards for backward compatibility and metadata retrieval from the back catalogs in specific industries. (ISWC and ISRC in music).
CopyrightShares
A CopyrightShare is a tradable asset (equivalent to Non-Fungible Token — NFT) representing the share in copyrighted content.

CopyrightShares gives the right to receive royalties in the form of Royalty tokens.
Royalty’s tokens (ROY)
Royalty’s tokens are the vehicle for paying royalties to holders of CopyrightShares.

All royalties in the CopyrightChain ecosystem will be delivered in Royalties tokens.
From Royalties tokens, the CopyrightShare holders can exchange them into CREATIVES or any fiat currency of their choice.
CREATIVES
CREATIVES are the official and public representation for paying royalties to holders of CopyrightShares.
To facilitate nano-payments, 1 CREATIVE is divided into 100 million ThorBits.
All “trades” in CopyrightShares will only be conducted in CREATIVES or fiat.
NIM Utility Tokens (NUT)
Unlike CREATIVES, NUT is designed for long-term supporters. It is non-transferable as it directly relates to the content ingested into CopyrightChains.

NUT is a feature in CopyrightChains whereby, by staking CREATIVES into NUT, holders can participate in the governance system and be used by partners in the NIM ecosystem.
CopyrightID, CopyrightShares, and Royalties Tokens
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.

CopyrightShares are non-fungible assets of that CopyrightID, and Royalties tokens are fungible assets that define dividends in the form of royalties that a CopyrightShare produces.
CREATIVES, NIM Utility Tokens, and Royalties tokens
NUT is a form of Internal Digital Asset (IDA) used by partners in the NIM ecosystem.

It can be used by holders of CopyrightShares and Digital Service providers and partners to pay network fees.
Where holders of CopyrightShares can only receive ROYs, NUT can be obtained only by exchanging ROYs to CREATIVES or bought with CREATIVES and fiat.

To be clear:
1. When ROYs are exchanged to fiat in escrow, ROYs are burned (deleted) when the equivalent amount in Euro is transferred to the CopyrightShares holder’s bank account.
2. When ROYs are exchanged to CREATIVES (CREATIVES), the ROYs are 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 CopyrightShares wallet.

The exact amount as CREATIVES in NIM Utility Tokens NUT will also be transferred to the CopyrightShares holder’s wallet for use as IDA in CopyrightChains.

Consequently, if you are a CopyrightShares holder, you will receive NUT for free when you exchange ROYs for CREATIVES.
3. Suppose you are NOT a CopyrightShares holder (i.e., receiving royalties).

In that case, you will have to pay for NUT to access the services in CopyrighChains and the NIM ecosystem.

Summary:

• 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.
• Royalties Tokens are the vehicle for paying royalties to holders of CopyrightShares.
• CREATIVES are the public representative for Royalties tokens and are in free trade.
• NUT 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 of that CopyrightID, and Royalties Tokens are fungible assets representing royalties that a CopyrightShare produces.

Originally published at https://newinternetmedianews.com on September 30, 2022.