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Not so with New Internet Media (NIM), CopyrightCoins (CCIM) and CopyrightChains.
Admittedly it has been a struggle to keep focus on the business strategy. The approach we ironed out the first years (2014 and 2015) has served us well so far.
However, (with 20/20 hindsight) it couldn’t have turned out better even if we had used the DeLorean invented by Doc Brown.
We defined stablecoins before it was named stable coins and we described the new class of security tokens as Copyright securities before it became “popular”.
CopyrightCoins are the ONLY cryptocurrency that has a secure and stable value reference practically unlimited – royalties earned from content.
We are convinced that switching to the Waves platform over a year ago and deciding to launch the ICO on the Waves platform was the correct one.
The price performance of CCIM over the last months, and more importantly the USD 120 million investment into the Waves platform by London based Dolfin (a financial services group Ref. Bloomberg) has given us a stable and technology secure platform to continue build CopyrightChains on.
Total ICO funding fell by 78% from $8,359,976,282 in Q2 to $1,819,585,090 in Q3 of 2018.
In quarter three of 2018, 76.15% of the projects who had an ICO were idea stage, 10.22% were MVP stage, 5.79% were beta stage, 4.77% were alpha stage, 1.7% were code stage and 1.37% were full-ready product stage.
According to new research from the Wall Street Journal, more than 15% of crypto projects raising funds through initial coin offerings (ICOs) have serious red flags that should give investors pause. The investigation, which analysed the whitepapers of 3,300 cryptocurrency offerings and ICOs launched in 2017 and 2018, found that 513 of them likely committed plagiarism, misrepresented the identities of project founders, or promised unrealistic returns.
Whatever else happened in 2018 one thing is clear; blockchain technology has stirred up the foundation of legacy financial systems.
For all the trouble ICOs may have inflicted and still might on investors, issuers and regulators, one fact remains – they proved that blockchains, coins and tokens were systems capable of successful fundraising.
Blockchain technology is so good at raising money that the crypto markets went crazy (and not in a nice way).
One study – which examined over 4000 ICOs – found that within four months of issuing a token, more than half of the projects launched had already failed.
ICOs may have tainted the narrative around cryptocurrencies, but CopyrightCoins are showing the broader public that blockchain technology can help power compliance.
New Internet Media is the official name for the group administration (see https://newinternet.media/):
All CopyrightChains development has been carried out in Silicon Islands AB owned and operated by the investment company Westcoast Innovation Ltd (see https://westcoast-innovation.com/).
All ICO presale and sale of CopyrightCoins is carried out in Internet Music Ltd and Westcoast Innovation ltd on behalf of Internet Media Copyright Association (IMCA).
The CopyrightCoins (CCIM) ICO launched 1st July 2018 and will be ongoing for another six months (until 30th June 1019)
As per 31st December 2018, there has been issued 17,167,005 CCIM. However, there are still a significant amount of CCIM not claimed for earlier issued redemption codes. All of these CCIM have been purchased at a discount.
As per 31st December 2018, there has been little or no public training of CCIM (as per plan – the public trading will NOT pick up until content is under administration).
As per 31st December 2018, there has been quite some OTC (Over The Counter, i.e. private) trading. This is normal as the majority of existing CCIM owners have purchased redemption codes, or CCIM directly, at a discount, and the public price has not been below 1 CCIM = 1 Euro.
The price performance has been good lately, even though liquidity has been somewhat lacking.
From 0.6 on the 1st December to peak of 2.0 the 19th (on the 4th anniversary at the 21st it was 1.80) so I am cautiously optimistic even without significant content.
Content, starting with music, is slowly picking up and we are currently in discussion /negotiation with some major content owners/representatives (under NDA – if anyone wants details, please contact me).
Development has not been affected by lack of content; if anything, it has been a way out of the stalemate as we now have a fully developed ecosystem that are able, eager and willing to receive any content. We are also able to present a fully functional API (Application Programmers Interface) to Digital Service Providers (DSP – i.e. Geezer, Saavn, Tencent, Melon and more) (see https://nimpoc.com)
Westcoast Innovation and Thor Pettersen have funded the technology development. The development is per 31st December 2018 75% in RC (release candidate), and the rest is in alpha and beta tests.
Last years team building and administration has been funded through pre-sale of CCIM and redemptions codes entierly under IMCA (see https://imcassociation.com) as the governing body of CCIM.
Intensified efforts to find and set up the Copyright Securities operation (see https://copyrightsecurities.com/) has been carried out in Q4 of 2018.
We do not have any debt (except to the founder(s), which is normal) and all operations as per status are fully funded for 2019.
We are starting to make an impression on the regulators. The ICO was “approved” by the Estonian finance inspection already in September 2017.
We are also behind a motion to the Swedish parliament (see https://copyrightcoinsnews.com/2018/11/copyright-securities-registration-and-trade-of-copyrights-in-sweden/) about registration and trading of copyrights.
This motion is basically the same proposition that have been on the table of the Prime Minister Office of Malta the last six months (and we have yet to hear back, so we are not holding our breath). We have also made inquiries to UK, Cyprus, Luxembourg and Portugal, but have received no feedback as of yet.
Our ONLY commercial task is the collecting of transaction fees. I.e. making sure the copyright owners are paid as quickly and efficiently as possible when a license of use is granted to the DSPs. We presently charge 1.5% (maximum 2.0%) in transaction fee that is always payable in CCIM of every transaction. (see https://nimpoc.com for different scenarios)
1 play =1 license =1 payment
Every other aspect of the ecosystem is supportive to this primary task.
IMCA governs CopyrightCoins – the currency of royalties. IMCAs mission is to support and coordinate the efforts of the CopyrightCoins community by helping to create greater awareness of the benefits of the CopyrightCoins in royalties payment.
IMCA issued 25 billion Copyrightcoins whereas 24 billion is unavailable under escrow contract.
Of the 1 billion available, 700 million CCIM is ONLY available to proven Copyright owners. 150 million CCIM is available to core team and advisors to the ecosystem. Only 150 million CCIM is available on the “free” market (0.6% of total and 15% available today), something that will gradually change as the Copyright Owners will release their CCIM into the market pegged to their royalties income.
Copyright Securities (CSec), regulated securities brokered by an accredited investment house and/or broker. The policy is to maintain Copyrightcoins (CCIM) price stability at a minimum of 1 Euro = 1 CopyrightCoin – always backed by the flow of royalties under exclusive administration.
To secure exclusive administration right of musical works, IMCA is offering to pay advances to the copyright owners and have allocated 700 million CCIM to that effect. In addition to 150 million Euro Copyright Securities investment, all secured in audited and proven royalties income. These 150 million (plus interest) will NEVER leave the ecosystem, as soon as recouped it will be available for additional advances.
To acquire exclusive administration rights for content, advances are back in the content business. The Internet Media Copyright Association (IMCA) has issued 24.7 billion CCIM that all are pegged for paying advances to Copyright Owners with 700 million already available. In addition to the 150 million Euro (maximum) that will be available through the Copyright Securities system.
Advances will be offered according to the level of security in the royalty flow created by the content. The more popular the content, the faster the advance is recouped.
Copyright Securities through IMCA is offering advances in Euro or any combination of CCIM and Euro.
The CopyrightChains ecosystem is a blockchain ecosystem with a main blockchain “CopyrightChain” and two sub-chains “CopyrightCoins sub-chain” and “CopyrightShares sub-chain”. The ecosystem is developed, administered and commercialised by New Internet Media.
A CopyrightID serves as a uniform identification of a copyright within the CopyrightChains ecosystem. The CopyrightID is the identification of the copyright smart contract. It is roughly the equivalent to International Securities Identification Number (ISIN) as defined in ISO 6166. For backward compatibility and metadata retrieval from the back catalogues in certain industries such as music, it contains reference to international reference standards (such as ISWC and ISRC in music).
A CopyrightShare is a tradable financial asset representing the share in ownership of an copyright owner on a copyrighted content. CopyrightShares give the owner the right to receive royalties in the form of CopyrightCoins.
CopyrightCoins are the vehicle for the payment of royalties to owners of CopyrightShares. All royalties in the CopyrightChains ecosystem will be paid in CopyrightCoins. From CopyrightCoins anybody can exchange into any currency of their choice at their convenience, through a cryptocurrency wallet and via a cryptocurrency exchange. CopyrightCoins are not regarded as a security by the Estonian finance inspection and are under governance by IMCA.
A CopyrightID is a proof that a legal entity (person or company) have registered an intangible asset (creating a uniquely identifiable reference) representing a copyright or intellectual property right. CopyrightShares are non-fungible assets of that CopyrightID and CopyrightCoins are fungible assets that represents dividend in the form of royalties that a CopyrightShare produces.
Technology and ecosystems are in Release Candidate mode, content acquisition is picking up, and primary selection process of teams are in effect (will be presented in separate newsletter).
The principle of CopyrightCoins (CCIM) is based upon the royalties that flows through the ecosystem.
The value of CopyrightCoins is backed by the value of royalties and not based upon bid and ask as in all other cryptocurrencies in existence.
This approach gives CCIM a unique position in the world of cryptocurrencies and online content distribution – of which we are about to capitalise on in 2019.
To make sure each copyright owner and creator is paid in an efficient and orderly manner – all royalties payment are in CCIM and in principal between two main legal entities:
Copyright owner and Digital Service Provider (DSP = online-retailer) with the NIM transaction service as go-between.
NIM’s primary task is to make sure that the right copyright owners get paid as soon as possible the correct royalty without any unnecessary commission and fees to 3rd parties.
NIM’s ecosystem are made up of several independent services to support this primary mission.
Through our Content as a Service (CaaS) concept, we are offering “everybody” that owns CopyrightCoins (or they can buy CopyrightCoins to be eligible) an opportunity to become an online DSP.
We have been in discussions with a large car manufacturer, offering Music as a Service for their car dashboard (cars are still a primary place to listen to music). It has for a long time (since the 2014 carjack) been know that Bluetooth Spotify or Apple Music is a big security flaw in cars and naturally the car manufacturers want total control over the security aspects. By becoming their own DSP for music entertainment in cars, they do have total security control.
The value of Copyright ownership is reflected in the popularity of the song. If the song is part of a back catalogue (i.e. older than 18 months) there is a reasonably good backdrop for estimation of that song’s royalties and that value can be expressed in a formula coded into smart contracts and code snippets.
By offering to pay advances in exchange for exclusive administration rights (EAR), are we putting our money where our mouth is and securing a strong foundation for copyright owners and creative people to make a living!
By combining a “traditionally” ICO and a lending platform (aka advances), we have created Copyright Securities – an independent service in the NIM ecosystem working in close partnership with the IMCA (governance of CopyrightCoins).
To maintain Copyrightcoins (CCIM) price stability at a minimum of 1 Euro = 1 CopyrightCoin – the majority of CCIM is always backed by the flow of royalties under NIM’s exclusive administration.
To secure exclusive administration right (starting with musical works), IMCA is offering to pay advances to the copyright owners and have allocated 700 million CCIM to that effect. We are also proactively seeking up to 150 million Euro Copyright Securities investment, all secured in audited and proven royalties income.
These 150 million (plus interest) will NEVER leave the ecosystem, as soon as recouped it will be available for additional advances.
When advances no longer is needed all invested money (plus interest) will be returned to the investors.
The first operation of secured lending (advances) is currently being initiated in Sweden and will be operating by the end of January 2019.
Secured lending is not regulated in Sweden unless it involves consumers and the team is looking into these targeted institutional investors (see: https://copyrightsecurities.com/)
However, if Copyright Securities also accepts deposits from the public, this constitutes a regulated financing activity which requires a permit in Sweden (either directly from the Swedish Financial Supervisory Authority (FSA) or through EU passporting rules).
Further, if the lending activity is fairly regular, the entity may be regarded as conducting a permanent financing business in Sweden; in such cases, the FSA will be notified. While the regulatory situation is not entirely clear, more incidental lending to Swedish borrowers does not usually require notification.
We are looking onto investments from the public in details and will get back with status later…
As earlier mentioned we have divided the legal entities involved in any online licencing into two parts; Copyright owners and Digital Service Providers (DSP).
In its purest form – DSP sell and market content created by the copyright owners.
NIM’s transaction service is involved in such a scenario by making sure that the DSPs are paying the correct copyright owner as much royalties as fast as possible.
This means that NIM transaction service must give the copyright owners a failproof way of registering their work as well as a controlled way of trading the copyright shares.
In our opinion, the only way of ensuring a correct registration and trading is public regulation.
Which is why we are behind a parliamentarian motion in Sweden (see https://copyrightcoinsnews.com/2018/11/copyright-securities-registration-and-trade-of-copyrights-in-sweden/
The registration and trading of copyrights is available as a White Label Content Mesh (WLCM) service and can be implemented on a large scale using any partner to register and trade on the CopyrighChains and in any EU country.
Through NIM and the administration hub – White Label Content Mesh (WLCM) partners are proactively built.
These WLCM partners are the administration point for the online content.
With the introduction of the White Label Content Mash (WLCM), we are giving (starting with music) the Copyright and Content owners an easy and well-defined interface to administrate and collect royalties. Content owners can register content with provenance that are collectively available under the CaaS concept, and DSPs can access fully licenced content and easily pay royalties to the copyright owners.
A DSP can of course, also be a WLCM partner.
TOFS is an independent professional association representing music writers in all genres. TOFS offers benefits for their members and is tirelessly campaigning for their member’s rights and benefits.
However as the digital age is taking hold and more and as more royalties are paid from online and digital services, the member numbers are starting to decline.
Which is why TOFS have decided to offer their members a full package of “More money, faster – for owners of Copyright.”
For a lower administration fee than most competing collecting societies TOFS is handling all digital and online royalties payment (typically 5-9% administration fee)
In effect, NIMs WLCM and the MaaS (Music as a Service) make sure the royalty for a song played via a DSP is paid to the account (wallet) of the Copyright owners before the song has ended.
This payout of royalties is made possible by retracting all digital rights from (for instance) PRS for music and placing them at TOFS. Exclusive administration rights give TOFS the opportunity to offer advances against the flow of royalties.
The copyright owners are providing TOFS with proof of royalties flow for the last five years. TOFS will then be advancing CopyrightCoins (CCIM) (through IMCA – the governance body of CCIM) to the writers of music for this exclusive administration right.
All existing PRS for music registration is pulled from the database and automatically registered on the CopyrightChains sub-chain CopyrightShares in a batch job and presented as TOFS own service solution.
This new service is proven very popular among the existing members of TOFS, and new members are joining up from all over the world.
To avoid any misunderstanding, let me be clear – we are not saying that a copyright owner MUST register the copyright and we are NOT saying that the only way to trade in copyright shares (splits) are through a regulated exchange.
What we are saying – is that it is the ONLY way of making sure that the owner get more money, faster for the copyright shares than in the “old way” of collecting royalties.
NIM is primary setting up registration and trading in Sweden, however we are also setting it up in low taxation countries like Malta where the taxation of royalties income currently is around 5% with a no double taxation agreements with over 70 countries. This means that registration and “home-turf” of copyright ownership must be moved to Malta for copyright owners.
NIM are now – ready to receive registrations and trade of copyrights, – ready to offer advances in return for exclusive administration rights, – ready to offer DSPs CaaS and “pay-as-you-go” licensing, – and ready to provide more and more reporting of DSPs royalties pay-out.
Internet Media Copyright Association is already actively offering up to 700 million CCIM as advances.
Copyright Securities (CSec) will be up and ready to offer first 5 million Euro by mid-1Q 2019 with first investment of administration and roll-out of 2 million Euro.
Teams and advisors are being built (see next special newsletter) and we are proactively recruiting partners and team members.
First High-Value content catalogue is under administration target 5 million Euro (Transaction fee on €75K on 90% profit margin).
The end of CopyrightCoins ICO (30/06/2019) and end of CCIM speculation with peak at 12 Euro on the CCIM, the prices are rapidly reducing as CCIM prices are stabilizing due to copyright owners exchange of CCIM to fiat.
A minimum of 2 million Euro to administration and roll-out are allocated (part of Copyright Securities offering on 30% ROI). First DSP are actively licensing from CaaS.
More WLCM partners are signed up. First digital collecting society are established in Germany, and Copyright Securities are regulated in Sweden. Pay-out of advances are approaching 50 million Euro and 150 million CCIM.
Transaction fee is approaching 1 million Euro, and liquidity in CCIM are firmly established at 2.5 Euro on the CCIM.
NIM is firmly established as basis for the reboot of the online content industries, and EU parliament are starting to adopt the Swedish approach of copyright registration and trading.
A very prosperous and happy 2019 to you all…