New Internet Media
New Internet Media offers a complete solution for registering, reporting, and paying royalties from music. By using the latest technology, royalty can now be transferred instantly to anyone, anywhere in the world, the very moment a song is streamed.
CREATIVES is a native currency offered by New Internet Media. Its value is based on the value of the royalties flowing through the services of the NIM ecosystem.
CREATIVES will be launched immediately upon press release of significant content ingestion.
However, until then, we are offering pre-release of CREATIVES as NFTs. The NFTs will be offered on a mix of public marketplaces like OpenSea and in NIMs own marketplace.
New Internet Media Technology
Ethereum can conduct around 15 transactions per second for an energy cost per transaction of 50kWh. NIM tech can conduct about 4500 transactions per second for an energy cost per transaction of 0.035mWh.
NIM Tech is capable of 4500 TPS (Transactions per Second) and >10 000 TPS on dedicated platforms. Finality is also important:
Bitcoin has a finality of 60 mins
Tezos roughly 30 minutes
Ethereum is 6 mins
NIM Tech has less than 1 second
NIM Tech has tested the implementation of both EVM (Ethereum Virtual machine) and AVM (Avalanche Virtual machine) and are using both in the infrastructure
Copyright registration is the same process whether it is musical works, music recordings, news articles, photos, videos, designs or any other result of a creative mind.
Copyright owners are registered with shares in the copyright and consequently the right to receive royalties( according to how many shares).
NIM Tech can handle more than 10 trillion requests per day and can support peaks of more than 200 million requests per second (Visa does around 1,700 transactions per second on average).
A licensing request has a threshold of 20 seconds (Apple music) and, more commonly, 30 seconds (Spotify, YouTube and other DSPs), so it’s well within acceptable parameters.
If you want to load and reconcile data from a unique data source, you can create custom loader types directly from the theme. You can use an existing loader type as a template for a new loader type.
NIM Utility Tokens (NUT)
The purpose of Utility Tokens is to access content and support applications that have access to those services – like extended reporting or Content as a Service (CaaS). NUTs are an Internal Digital Asset used by partners in the NIM ecosystem. It is used used to pay networks fees.
NUTs can be obtained only by exchanging ROYs to CREATIVES or bought with fiat or CREATIVES.
Royalty Tokens (ROY)
ROYs are used for royalties transfer and licencing without worrying about price fluctuation. ROY are superior to fiat currencies since it’s programmable.
Think of ROYs as “credit tokens.” with intrinsic value as asset-backed tokens
ROY are also used as basis for reporting where the White Label partner invoice the DSP as per licenser acquired in the invoiced period.
CREATIVES are the system’s native currency. Its value is based on the value of the royalties flowing through the ecosystem. CREATIVES are the official and public representation for the payment of royalties to holders of Copyrights.
To facilitate nano-payments, 1 CREATIVES is divided into 100 million ThorBits. Anybody can make FOREX transactions on CREATIVES.