5.4 Immutable profile

This profile is defined in the circumstances where all data in a Music NFT should be on-chain and/or immutable and that all rights controllers have their own wallets for the subsequent receipt of royalties.

When communicating to an NFT Minting Service that an NFT Issuer wishes to issue a Music NFT using this profile, the NFT Minting Service shall, subject to contractual obligations:

  • Place all data associated with the Music NFT such as the reference to the Smart Contract, any identifier(s) for the resources contained in the Music NFT, data describing the Music NFT and some of the commercial terms relating to the use of the Music NFT, for example, “this is NFT x of y” to express artificial scarcity, on-chain or in a decentralised data store;

  • Place all available identifiers for the release, the resources and the underlying musical works contained in the Music NFT as defined in Clause 5.3.2 either on-chain or in a decentralised data store;

  • Place all descriptive metadata for the release, the resources and the underlying musicals work contained in the Music NFT as defined in Clause 5.3.3 and all artist and contributor names and identifiers as defined in Clause 5.3.4, either on-chain or in a decentralised data store;

  • Place all rights metadata as defined in Clause 5.3.5, including names and identifiers of rights controllers, either on-chain or in a decentralised data store;

  • Place all Primary and Secondary Resource files (as defined in Clause 4 of Part 2 of the ERN standard) in a decentralised data store;

  • Place all rights controllers’ wallets for direct payments of any revenue generated by the trading of the Music NFT by including a reference to either one wallet for each rights controller or multi-signature wallets for multiple rights controllers on-chain or in a decentralised data store.

If any rights used in a Music NFT minted in accordance with this profile change after the NFT is minted, the owners of the relevant wallet(s) may be responsible to forward any funds to the new rights holders.

Search