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A complete and detailed overview of Nitrility - the world's first intellectual property marketplace
• Legally using IP like music in any created content, such as TV commercials, movies, YouTube videos, or live streams, requires a direct license from the rightsholder. This license is a formal agreement that grants permission to use the music.
• Platforms hosting user-generated content, like YouTube, employ automated copyright systems to monitor content. For instance, YouTube's Content ID scans videos upon upload to detect potential copyright infringements. However, these systems do not verify license ownership, leading to a notable incidence of false copyright claims.
• This principle extends to all forms of Intellectual Property (IP). For example, game developers must license assets used in their games. When these games are uploaded to platforms like Steam, automated systems check for copyright infringements but do not confirm license ownership. This issue is prevalent across various IP sectors, including images, patents, movies, and books, highlighting a widespread challenge in the digital content industry.
The current landscape of IP licensing is fraught with challenges, characterized by fragmentation, inefficiency, and the absence of a centralized marketplace. These issues manifest differently for various stakeholders in the IP ecosystem:
Consider the case of a startup attempting to license a popular song by Ariana Grande for a commercial intended for YouTube. The daunting task of contacting the artist and negotiating a license agreement forces them to settle for a lesser-known artist’s music. Despite legally acquiring the license, they face a false copyright claim on YouTube due to the platform's inability to recognize their legal rights to use the song. Disheartened by this experience, the startup owner vows to never purchase a license again—a decision that reflects Nitrility's own story and underscores the systemic issues plaguing the IP licensing world.
Discovery and Access Issues: Content creators, businesses, and innovators often find it challenging to locate suitable IP assets due to the lack of a centralized, accessible platform. Reaching out to major rightsholders is frequently an insurmountable task.
Opaque Negotiations and Pricing: Transparency is often missing in the negotiation process, leading to extended discussions and the risk of overpaying for IP rights.
Verification and Legal Complexity: Authenticating IP rights and navigating the intricate legal landscape poses significant risks, including potential legal disputes and infringements.
Limited Market Reach: IP rightsholders, such as artists and inventors, struggle to gain visibility and market their assets effectively to a wider audience.
Administrative Burdens of Licensing: Managing licensing agreements, particularly for diverse assets across multiple regions, is a cumbersome and time-consuming process.
Revenue Optimization Challenges: Without a unified marketplace, sellers often miss out on maximizing their revenue potential due to limited exposure and non-optimal pricing strategies.
Enforcement of IP Rights: Platforms and legal bodies grapple with the enforcement of IP rights, often leading to expensive and lengthy legal battles.
Handling Copyright Claims: Digital platforms like social media and streaming services frequently encounter copyright claims that are complex to verify and resolve in the absence of clear IP ownership records.
Inconsistency in IP Transactions: The lack of a standardized process for managing and transferring IP rights results in inefficiencies and discrepancies across various platforms and jurisdictions.
These collective challenges create an environment where IP transactions lack fluidity, transparency, and efficiency, significantly impeding growth and innovation across creative and technological sectors.
Creativity is being tested, and Nitrility plans to ensure humans come out on top
The intellectual property (IP) market in the United States is a vast reservoir of untapped economic potential, valued at an estimated $7.8 trillion. As a crucial driver of innovation and creativity, this market is integral to various sectors of the U.S. economy. Nitrility is strategically positioning itself to lead this market, initially focusing on media licensing before branching into the broader creator licensing market and ultimately tapping into the global IP market's multi-trillion-dollar potential.
Our system for creators
Nitrility can be envisioned as the Amazon of intellectual property, a groundbreaking marketplace designed to streamline the IP trade. This platform is fortified with blockchain technology to authenticate licenses and eradicate false copyright claims, bringing a transformative change to the IP ecosystem.
Effortless Discovery and Access: Our user-friendly platform centralizes a vast array of IP assets, significantly improving the efficiency of the discovery process.
Transparent Pricing and Efficient Negotiations: We offer transparent, market-driven pricing and straightforward terms, facilitating smoother negotiations and ensuring equitable transactions.
Secure and Verifiable Transactions: Utilizing blockchain technology, Nitrility guarantees secure transactions with clear records of ownership and authenticity. This reduces legal risks, counters false copyright claims, and simplifies compliance.
Expanded Market Reach: Sellers can now tap into a global market, enhancing the visibility and reach of their IP assets.
Streamlined Licensing Management: Our platform eases the management of licensing agreements, providing tools and support for seamless handling of multiple assets and transactions.
Maximized Revenue Opportunities: Thanks to wider market exposure and data-driven insights, sellers can strategically price their assets to optimize revenue.
Effective IP Rights Enforcement: Our blockchain-based system simplifies the verification of IP rights, assisting in more efficient enforcement by platforms and legal entities, and reducing the need for litigation.
Efficient Copyright Claim Resolution: Digital platforms can swiftly verify the authenticity of IP licenses, greatly reducing the time and effort spent on managing and resolving copyright claims.
Standardization of IP Transactions: By introducing a standardized process, Nitrility brings consistency and efficiency to the management and transfer of IP rights across various platforms and jurisdictions.
Nitrility’s solution represents a paradigm shift in the IP trade, addressing the core challenges faced by each stakeholder and fostering a more dynamic, transparent, and innovative marketplace. This approach not only simplifies transactions but also opens up new avenues for creativity and technological advancement.
An intuitive intellectual property marketplace supported by the blockchain
Nitrility is recognized as the world's first intellectual property marketplace, revolutionizing the way intellectual property (IP) rights and licenses are traded. Covering a broad spectrum of IP assets, including those under copyright, trademark, and patent law, our platform is a hub for peer-to-peer IP transactions. Utilizing advanced smart contract technology, Nitrility ensures that each license is converted into a digitally verifiable token, complete with an immutable transaction history. This innovative approach provides unparalleled authentication and transparency in the IP industry.
Our system for platforms
Here is a step-by-step simple system overview of the Nitrility marketplace:
Note: At Nitrility, we’ve streamlined the complexity of Web3 and blockchain technology to focus on user experience. Our platform uses user-friendly tools like Magic Wallet for easy email-based sign-in, and NoRamp and Moonpay for straightforward, non-cryptocurrency transactions. Additionally, our in-house license history tool eliminates the need for users to delve into blockchain data, simplifying the process.
Identity Verification: Rights holders register using their artist accounts on platforms such as Spotify, Apple Music, or SoundCloud, creating their seller profiles on Nitrility.
Ownership Verification: We validate the identity and ownership rights of the artists to ensure authentic listings.
License Listing: Artists have the flexibility to list their music licenses, specifying details like pricing, terms, and revenue sharing with co-rightsholders, and choosing the type of licenses (e.g., media or creator sync licenses).
Marketplace Listing: Once agreed upon by all involved rightsholders, the music is listed on Nitrility as a licensable asset.
Sales Tracking and NFT Representation: After a sale, each license is represented as a dynamic Non-Fungible Token (NFT) with updatable metadata, ensuring transparency and detailed tracking.
Account Creation: Buyers set up accounts, linking them to various other accounts like social media or business accounts for seamless transactions.
Identity Verification: We verify the identities of businesses and individual creators to ensure secure transactions.
Marketplace Browsing and Purchase: Buyers can explore various IP types and genres, purchase licenses, or place offers. Each purchase is converted into an NFT with verifiable, up-to-date metadata.
License Usage: Each license purchase protects a single piece of content, valid across multiple platforms.
Receiving Copyright Claims: When platforms such as YouTube issue copyright claims, they provide Nitrility with essential data, including the user’s and video’s unique IDs, along with the song and artist names.
Automated License Verification: We employ webhooks and our API to automatically verify a creator’s presence on Nitrility and check for any owned licenses. A valid license is marked as 'used' to prevent repeated usage.
Data Reporting to Platforms: We send back comprehensive and accurate data to platforms via webhooks, bolstered by blockchain technology for maximum integrity and precision.
Monitoring and License Misuse Prevention: We actively monitor and invalidate licenses used for inappropriate content, maintaining the integrity and efficacy of our system.
Nitrility’s system is designed to be intuitive, secure, and efficient, revolutionizing the IP trade experience for rights holders, buyers, and platforms alike.
Nitrility’s marketplace is set to make a significant impact on the creative community by streamlining the IP licensing process. This not only empowers artists and creators across various fields but also democratizes access to high-quality IP, fostering a vibrant, economically sustainable creative ecosystem.
As Nitrility evolves, its potential to revolutionize the global IP market is immense. With plans to expand into diverse IP categories, Nitrility is poised to become a key player in the IP market. The platform’s growth strategy is aligned with the dynamic nature of IP in the digital age, enabling it to capitalize on a market with over $100 trillion in global potential.
Our strategy to aggregate demand is deeply rooted in strategic relationships. Leveraging the expansive professional network of our founder, Avi Patel, we have the capability to engage any major production studio or game developer in the U.S., from Netflix and Hulu to Marvel. Given the existing industry challenges, these major players are eager and ready to utilize the Nitrility marketplace.
For smaller media buyers, Nitrility is a necessary choice due to the current complexities in licensing music. Standard advertising methods are expected to effectively capture this segment of the market.
How our monetization for platforms and Nitrility will work
Nitrility operates on a straightforward yet effective transaction fee model, similar to successful platforms like Amazon and Opensea.
For every license sale, Nitrility charges a nominal fee of 5%. For instance, if a license is sold for $20, Nitrility retains $1, with the remaining $19 going directly to the rightsholder. This transaction fee is split to support various aspects of our operation:
50% of the Fee for Nitrility: Half of this fee is allocated to Nitrility, aiding in our continuous development and operational needs.
50% into a Vault: The other half is deposited into a 'vault.' This fund is used to incentivize platforms where the licenses are utilized. For example, if a creator buys a music license from Nitrility and uses it in a YouTube video, YouTube would receive 2.5% of the license's sale price. This model encourages platforms and third parties to integrate our license authentication system, complementing the other benefits we offer.
It’s important to note that these percentages are flexible. Based on feedback from rightsholders and strategic considerations, we may adjust the distribution of fees or even retain a higher percentage. Additionally, for media sync licenses, we can implement a straight 5% transaction fee without splitting, as these do not necessitate partnerships with third parties.
Our business model is designed to be adaptable, ensuring a fair distribution of revenue while supporting the growth and sustainability of Nitrility’s marketplace.
Following its establishment in the media licensing segment, Nitrility plans to expand into the creator licensing market. This rapidly growing sector, part of a $2 trillion creator economy, includes platforms like YouTube, Meta, and Twitch, where content creators constantly seek licensed materials.
David Dobrik, a prominent YouTube creator, exemplifies the struggles in monetizing content due to persistent copyright issues. Even after securing music licenses, automated systems like YouTube's fail to recognize these legal rights, leading to revenue loss. Nitrility addresses these issues, offering a robust solution for digital content creators to efficiently acquire and validate music licenses.
Nitrility’s initial target, the U.S. media licensing market, valued at approximately $14 billion, encompasses a wide spectrum of IP transactions in areas like AI Training, advertising, TV, movies, and gaming. Despite its substantial size, this market is plagued by inefficiencies and fragmentation, lacking a streamlined platform for IP transactions.
The licensing challenges faced by large production studios are exemplified by Netflix’s "Stranger Things". Securing rights for the song "Should I Stay or Should I Go" by The Clash was a complex task, involving negotiations with various rights holders. After obtaining the license, demonstrating clear ownership and compliance with global copyright laws was another hurdle. Nitrility aims to simplify and streamline such intricate licensing processes.
User-generated content platforms are frequently embroiled in copyright disputes. Automated detection systems struggle to differentiate between unauthorized and legally licensed content, resulting in erroneous claims and legal issues.
Meta's legal battle with Epidemic Sound AB over unauthorized use of music on Facebook and Instagram highlights the challenges platforms face in managing copyright compliance. Nitrility's solution offers platforms a transparent, efficient way to manage music licenses, minimizing legal risks and supporting the protection and monetization of intellectual property.
The reason why a venture like Nitrility hasn't been attempted before boils down to two fundamental misconceptions in the industry. Firstly, previous attempts to create IP marketplaces have often focused on bringing in large rightsholders like Sony, WMG, and UMG. While this approach seems logical for amassing a vast supply, it overlooks a critical aspect: the dynamism of a marketplace. These major rightsholders, with their extensive and saturated catalogs, struggle to maintain an engaging and evolving marketplace. Their inability to regularly update listings, adjust pricing, and promote new offerings leads to a static, uninteresting platform. Nitrility, on the other hand, targets smaller yet significant rightsholders and top-tier artists. This strategy allows for a more vibrant, dynamic marketplace where changes and updates keep the platform fresh and engaging.
Secondly, there's a prevailing belief that licensing terms are inherently complex, leading many to resort to creating brokerages rather than true marketplaces. These brokerages merely facilitate transactions without capturing the essence of a marketplace – self-service and autonomy. Nitrility challenges this notion by simplifying the core components of a license, making it feasible to automate the entire process and provide a true marketplace experience. We've distilled license terms to their essentials, enabling both rightsholders and buyers to transact directly and efficiently. This approach not only democratizes the process but also injects much-needed agility and innovation into the IP trading ecosystem. Hence, Nitrility isn't just building a marketplace; we're redefining the paradigm of IP transactions, making it accessible, dynamic, and user-friendly.
Our approach deliberately sets us apart from competitors who are bogged down by their partnerships with massive music publishers. These giants struggle with updating and managing their vast catalogs effectively. To put it simply Sony, WMG, and UMG will not innovate or attempt to innovate because they have millions and millions of songs in their library. They can’t personalize licenses for each song, let alone set up profiles for each artist uder them.
In stark contrast, Nitrility focuses on partnering with a diverse range of artists and record labels who can actively manage their more manageable catalogs (still large but not as big Sony for example). This strategy ensures our marketplace is dynamic and constantly evolving. Simply put, while our competitors remain stuck in their ways, Nitrility is all about fostering innovation and flexibility in the IP market. Those questioning this approach are overlooking the clear advantage it provides. Don’t get us wrong, we still plan on partnering with the big 3 rights holders in the music space, but only when the time is right. We don’t want to make a platform that is cool and constantly changing, instantly boring and static by allowing these bigger rights holders to overwhelm and make the marketplace bland.
Targeting media licensing first is a strategic maneuver to capture the most lucrative segment of the IP market that we can tackle right now with the position we are in. This decision is rooted in our in-depth market analysis, as outlined in the memo. By establishing a strong foothold here, we pave the way for a seamless transition into creator licensing, fortified with proven success and market credibility.
Opting not to initially target the creator market is a strategic choice grounded in market realities. The success of venturing into this realm hinges heavily on forming partnerships with major platforms like Meta, YouTube, and Twitch. These alliances are critical for recommending licenses through our API, yet securing them pre-launch carries significant uncertainty. We are tactically opting for a sector where demand generation is more within our control. This approach is not about shying away from challenges; it's about intelligently sequencing our market entry to ensure stability and success, setting a solid foundation for future expansion.
The focus on aggregating demand at this stage would be premature and counterproductive. Our current priority is to build a tangible, robust product and to amass a diverse supply of IP assets. It’s about crafting something that not only exists but excels. The demand from large media companies will inevitably follow, as outlined in our memo. Investing time and resources now to attract demand would be a misallocation, diverting focus from enhancing our platform. We are confident in our product's inherent value and market appeal. Proving its worth to potential buyers before it’s fully realized is unnecessary and distracts from our core mission of building an unparalleled marketplace and supply.
Nitrility's fundamental value lies in the unquestionable authentication of IP licenses, a feature integral to our platform. Blockchain technology, with its immutable record-keeping, guarantees that once a license transaction is entered, it is permanently and indisputably recorded. This unalterable transaction history is vital in the realm of IP rights, where the authenticity of licenses carries significant legal and financial implications.
Platforms like YouTube, Twitch, TikTok, and others operate under DMCA safe harbor laws, making them liable to enforce copyright strikes unless content is verifiably licensed. The current ecosystem fails to recognize license ownership, leading to unwarranted strikes against creators. Nitrility bridges this gap, providing these platforms with irrefutable license ownership data. Our use of blockchain ensures maximum accuracy, which is critical for platforms to maintain their DMCA safe harbor status. In the domain of IP rights, where proof and reliability are essential, blockchain is not just a preferable choice; it's a necessity for the future of transparent and secure IP transactions.
Nitrility's approach to blockchain technology is user-centric, emphasizing ease of use while ensuring legal compliance. We use Magic Wallet Link for seamless email-based logins, eliminating the complexity of traditional blockchain wallets like MetaMask. Our in-house data explorer negates the need for users to delve into blockchain data themselves. Additionally, our partnerships with payment processors like Moonpay and NoRamp facilitate cash transactions, steering clear of direct cryptocurrency involvement. All transactions are denominated in dollars, not crypto, simplifying the user experience and aligning with broader regulatory standards. This strategic implementation ensures compliance across jurisdictions while keeping the user experience straightforward and accessible. While on the backend we can still provide perfect blockchain-related data for license ownership and authentication.
Nitrility has implemented robust measures to combat IP fraud and misuse. Our platform leverages advanced blockchain technology, providing a secure and transparent ledger for all transactions. This ensures that every license and its usage can be tracked and verified, minimizing the risk of unauthorized use. Additionally, we have strict verification processes for rightsholders and buyers, including identity verification and ownership checks. Regular audits and real-time monitoring systems are in place to detect any suspicious activity. These comprehensive safeguards are designed to maintain the integrity and trustworthiness of our marketplace.
At Nitrility, we employ a rigorous approach to ensure IP integrity. We leverage extensive data to enforce cooperation among all rightsholders of a piece of IP. For instance, if an artist like Post Malone wishes to list a license for a song, our system mandates approval from all co-rightsholders associated with that song before the listing goes live. This process not only builds trust with buyers but also ensures utmost accuracy in IP compliance. Furthermore, we place the responsibility of proper IP selling squarely on the sellers, thereby upholding the highest standards of compliance and integrity on our platform.
Nitrility Links
All Investment Info: https://www.originmind.org
Website: https://www.nitrility.com/
Instagram: https://www.instagram.com/nitrility/
Linkedin: https://www.linkedin.com/company/nitrility
Twitter: https://twitter.com/nitrility
YouTube: https://www.youtube.com/@nitrility
Nitrility proudly hosts a remarkable array of over 34,000 top global artists who have committed to providing their music to our marketplace. These artists aren't just any musicians; they are among the elite, with our average artist boasting 300,000 monthly listeners, placing them in the top 0.01% on Spotify. Our larger partners enjoy even greater reach, with listeners ranging from 1 million to 60 million.
We have forged strong partnerships with major industry players, including Adept Records (400+ artists, 100+ million streams), Elysian Records (500+ artists, 200+ million streams), Soundscape Records, Aurorian Records, Boost Collective, and Releese.io. These collaborations bring thousands of artists and billions of streams to our platform.
Our upcoming partnership with TooLost, a leading music distributor with over 100,000 artists and 5 million tracks, marks a significant step. This deal will pave the way for establishing relationships with every major distributor and record label globally.
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