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Web3

Security, cooperation, and opportunities

I hope everybody has had a great summer so far. Many of you seem to take the opportunity to ask questions and try to understand NIM's ecosystem. And what better place to do so than over a drink poolside!

Web3 has repeatedly appeared in NIM's newsletters over the last year.
However, how many have entered the world of Web3, and what are accessible with Web3?
 

NIM's approach to Web3.

Using the Metamask wallet to create an address and getting the "old" CopyrightCoins transferred for some of you. Seeing your "stash" of CopyrightCoins in your wallet means a new world has opened up.
An excellent start, but it is not the whole Web3.
Metamask is the key that opens the door to Web3.
Web3 is a decentralized collaboration model. It enables everyone to remove the restrictions and "control" of centralized institutions and finally own (aka control) their data and identity. It's the development of a value-driven economy.
 

Decentralized = information security

The Internet has enabled the interconnection of the global world, and tens of trillions of data information are generated. Your computer can not cope with your data, and cloud storage services have become a savior with their storage facilities for uploading and downloading data. However, it was (and is) notoriously unsafe, with numerous information leakage incidents.
 

The rise of major public chains

Unlike cloud storage, public chains refer to consensus blockchains that anyone can read, send transactions, and obtain confirmations. A decentralized place where data is open and transparent, and no individual or institution can control or influence the reading and writing of data. Something impossible to achieve with traditional Internet services.

Decentralized identity protects personal privacy

Passports, ID cards, and other documents are the certificates to prove our identity in the "old" world. In the Web3 world, the (Metamask) wallet address can be used as an identifier. NIM will generate different verifiable credentials (VCs), which can be customized according to different access scenarios. Consequently, users are no longer disclosing personal information, only large-scale VC results.
The Web3 wallet access is an excellent tool to manage on-chain accounts for receiving royalties, creating copyrights, reports, etc., in a unified manner.
NIM uses this in copyright registration and royalty collection, supercharging the NIM's royalty income model.
 

Web3 creates a new income model

Since Web3 is a new collaboration mode, individual contributions require a new rewards model to incentivize collaboration and investment. The participation method requires content for NIM's technology platform (allnim.net). Other parties that want to access the content will have to pay for the privilege. That payment can then be monetized by selling the copyrighted content to end users.

In a panel discussion at PRS for Music in spring 2016, I called this business model MaaS (Music as a Service) for the first time. Today we call it CaaS (Content as a Service).
It's the essence of what the Internet is about, users enjoying the content and paying for it so the creators can continue to create great content in the future.
 

The creator economy.

Whether a songwriter, artist, writer, graphic designer, or creator, the Internet has given them a unique opportunity to offer their creations to the general public. Today, content creators are forced to use centralized platforms that set the rules and decide which audiences to target and what payments creators will receive.

NIM aims to dismantle this model, replacing it with a user-centric economy for creators through Web3 technology. NIM's challenge is that the market is focused on capturing value and hoarding it via centralized platforms. NIM's answer is a technology platform that allows easy access to resources for creators. Shifting the creator economy towards a model focused on value creation.
By providing an environment that enables creators to earn fair pay for their work, NIM allows all creators (art, music, photographers, journalist, writers, blogs, etc.) to retain greater control over their work, monetize it, and collaborate with others.

NIM has integrated technology platform infrastructure with communities ecosystems into Decentralized Autonomous Organizations (DAOs) and subDAOs. Unlike traditional organizations' collaborative models like the old Coop, the most significant advantage of DAOs is their permissionless nature.
NIM’s first and primary service is to the music industry.
You'll find more info on NIM here
NIM
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