NIM Utility Token (NUT)

NUT is an Internal Digital Asset used by partners in the NIM ecosystem. Where holders of Copyright can only receive ROYs, NUTS can be obtained only by exchanging ROYs to CREATIVES or bought with fiat or CREATIVES.

When ROYs are exchanged to fiat in escrow, the equivalent amount in Euro is transferred to the Copyright holder’s bank account. When ROYs are exchanged to CREATIVES, the equal amount in Euros is transferred to NIMs escrow bank account. At the same time, the CREATIVES will be transferred to the Copyright holder’s wallet.

The exact amount as CREATIVES in NIM’s Utility 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 NUT for free when you exchange ROYs to CREATIVES. If you are NOT a Copyright holder (aka receiving royalties in the form of ROYs), you will have to pay for NUTS to access NIM’s services.

NIMs Utility Tokens (NUT) for services access
NIMs Utility Tokens are designed for access to NIMs services. They are in direct relationship to the content ingested.

Access to Content is designed for maximum security
NIM is offering several services that require paid admission. Extended reporting is the only service that is currently available. However, services like Content as a Service (CaaS – starting with music and news articles), popularity chart lists, trading in Copyright and flagship services like decentralised apps offering individual music streaming (see demo at NIMusic Net) . NIMs commercial arm Copyright Flow will also provide a general nano-payment for all content related services.

A network fee policy designed for fairness
A Message is a standard format of information on the CopyrightChains similar to a Bitcoin or Ethereum transaction. A Transaction can contain multiple Messages. Even though CopyrightChains operates in a private and protected environment, we have chosen to measure extra security. The blockchain applies two network fees to different messages to prevent spam and on-chain attacks. Copyright Owners Signed Messages (COSM) and Digital Service Provider Messages (DSPM). A DSPM can be a streaming provider wanting to access licensed Content for their subscribers. Or a copyright exchange wanting to access Copyrights for brokerages to copyright investors. NUT can both be COSM and DSPM concerning network fees. NUT can be obtained by exchanging ROYs to CREATIVES or bought with fiat or CREATIVES.
Only specific pre-defined validators are part of the private subnet. The Content of the blockchains would be visible only to those validators. This can be both holders of Copyright and Digital Service Providers. The subnet model allows validators to only concern themselves with blockchains that they care about. This reduces the burden on validators.

NIM Utility Tokens are pausable and deletable (burnable) for security reasons and flexibility.

Copyright Owners Signed Messages (COSM)

It’s counter-intuitive to charge a network fee for nano-payments (aka royalty payments) or creating/ingesting Content at this point. To provide a user-friendly experience, all COSP signed messages are complimentary, costing no network fees.

Digital Service Provider Messages (DSPM)

Any message NOT signed by a Copyright owner’s Account or Affiliated Account (representative and/or investor) is a General Message. NIM charges a message fee for sending General Messages. Validators collect message fees as compensation for validating and processing General Messages.