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.
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.
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.