Publ ic Draft V5

PRM PRIIMER

PHOTO © ART CHANG

Welcome to PRM

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An elegant marketplace model for digital content licensing on the blockchain.

The PRM Protocol is built on the Ethereum blockchain to provide a new standard for

licensing digital content through a curation model. Through decentralized marketplaces,

PRM creates verifiable ways for Creators, Curators, and Buyers to create, showcase, protect,

and purchase licenses for digital content.

The Protocol will drive new forms of revenue for Creators, empower a new player in the

licensing space, Curators, and provide authentic, high-quality work to Buyers that have not

been tapped by traditional stock agencies.

Arthur Chang Joe Pestro Andrew Ng

Founding Team

CO-FOUNDER & CEO

CO-FOUNDER & DEVELOPER

CO-FOUNDER & DEVELOPER

Y Combinator (s10, w15), BS Comp Sci UCSB, Secure Computing, Yardbarker, Fanvibe, BeRecruited, Priime

Y Combinator (s10, w15), BS Comp Sci Miami Ohio, Yardbarker, Fanvibe, BeRecruited, Priime

Y Combinator (w15), MS/BS Electrical & Comp Eng CMU, semiconductor (SigmaTel, Qualcomm), Serious Business,

UVersity, Waddle, Flowtown, 40 Proof, Priime

Priime, Inc.The team at Priime is no stranger to designing and engineering elegant solutions to some of the most challenging technical and artistic problems.

We have a long history of creating beautiful products for our community; we’re proud to call users some of

our best friends. We’re a team of photographers, engineers, and artists. As such, we’re thrilled to be

innovating for an industry we love and are deeply embedded in.

Priime, Inc. was founded in 2014 with the mission of building the best tools and community in the world for

photographers. The founders are a team of technical co-founders with a lifetime of experience in engineering

and design on end-to-end products, including a full suite of iOS and macOS photo editing applications, iOS

and web photo publishing platforms, and more.

Priime has worked and created great relationships with creative agencies, stock photo/video agencies,

journalists, and influential photographers — many in the top 100 in the world. PRM and Priime products will

continue the mission to create more tools for creatives in our ever-growing community.

With over 5 million app installs and a large community around the world, Priime is poised to create the next

step in digital content licensing.

Backing

Amino Capital

Initialized Capital

Y Combinator

Sherpalo Ventures

Fusion Fund

China Rock

PRIIME’S EXISTING EQUITY INVESTORS*

CURRENT PRM CRYPTO ADVISORS/INVESTORS

Garry Tan

*You should not assume that any person, organization or entity identified as an existing investor of the company (publicly, privately or otherwise) is participating in, endorsing, promoting or affiliated in any way with this Token offering, or has vetted this Token offering. Each prospective purchaser of Token should make their decision to participate in this offering independent of any potential or actual involvement, in any form, by other investors.

• Managing partner of Initialized Capital

• Former Y Combinator Partner

• Early investor in Coinbase

Alexis Ohanian

• General partner of Initialized Capital

• Co-Founder of Reddit

• Best-selling author

• Early investor in Coinbase

Tian Li

• Founder of DDEX.io

• Founder of Hydro Protocol (HOT)

• Previously at Microsoft and Palantir

Krishna Bharat

Waynn Lue

Russell Cook

Wei Guo

HTVentures

Christian Sullivan

PRM OVERVIEW

PHOTO © ART CHANG

PRM’s Mission

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Our mission is to transform the world of digital content licensing into tightly curated marketplaces based on the power of human recommendations, not algorithms.

We seek to establish evidence-based value for digital content such that Creators can build and

earn their value, Curators can showcase work and drive revenue, and Buyers can purchase

high-quality content at price points fair for all parties, with confidence and without conflict.

We envision a new digital content licensing economy — one that is defined by decentralization,

high Buyer confidence, and the ability to scale supply by exponentially increasing the market

opportunities for Creators and Curators.

PHOTO © ART CHANG

Main Components

PRM TOKEN

The PRM Token is an ERC20 crypto-economic Protocol Token that is used to apply evidence-based value to digital content. Creators, Curators, Buyers, and those who help validate the authenticity of digital content — Challengers and Validators — can all hold PRM Token.

DECENTRALIZED CURATED LIST (DCL)

A Decentralized Curated List (DCL) is a marketplace that can be created and curated by anyone. The owner of the list, known as a Curator, can showcase interesting work, celebrate Creators they believe in, and ultimately earn revenue through licensing. Both Creators and Curators can stake PRM Token to determine the license purchase price for Buyers. Learn More

MARGIN POWER

Margin Power is a computational function designed to accurately represent the value of digital content. Taking into account PRM holdings, staked PRM, previous transactions, and copyright validations, it is an attempt to bring objectivity to the to the once-subjective world of pricing digital content. In PRM marketplaces, Creators are always given market value for their work, and Buyers are presented with fair price points backed by evidence. While Creators will still have control over the price of their work, Margin Power provides a mathematical proof, so there is nothing to negotiate and no possibility of being

The PRM Token, Decentralized Curated Lists (DCLs), Margin Power, and the Validation Network are the main components of PRM.

In short, you have currency, curated lists of things to purchase, price

points that are set by evidence-based metrics, and methods to verify the

authenticity of what you’re buying.

By using the publicly traceable and verifiable nature of blockchain and

decentralization, the PRM Validation Network strives to solve copyright

infringement through Proof-of-Ownership and Proof-of-Existence. The

validation processes are absolute, in that their results have total reliability

that is not refutable. Not only can PRM guarantee a fair price, but its

system of validation ensures the credibility of what one is buying.

The Importance of Evidence-Based Without evidence-based value, companies set lower prices for volume and take higher commission.

Ultimately, Creators become discouraged to create good work for

licensing. With PRM, Creators have to earn credibility through talent,

but more importantly, through hard work. In an evidence-based

marketplace, Creators can prove their worth over time in a system

that ensures sustainable and fair market value.

In a decentralized market where everyone can stake Token into

content they believe has utility, curated marketplaces have the

unique ability to facilitate evidence-based value. As opposed to

relying on prices arbitrarily set by monopolies or untrustworthy

metrics from social media, Buyers can have confidence that a price

point is democratic, scientific, and fair in the new PRM Economy.

PHOTO © ART CHANG

HOW PRM WORKS

PHOTO © ART CHANG

1. PRIIME

The company, Priime, Inc.

3. PRM PROTOCOL

2. PRM

The ticker symbol of the Token and abbreviation used to refer to the Protocol

The Protocol being developed by Priime, including the PRM Token, DCLs, Margin Power, the Validation Network, and future extendible applications

Definition of Terms

4. CREATOR

A Token holder who owns a Digital Content Object

5. CURATOR

A Token holder who starts and manages DCLs

6. BUYER

A Token holder who can purchase licenses of digital

content through DCLs

7. VALIDATOR

A Token holder who is rewarded for validating digital content

8. CHALLENGER

A Token holder who is rewarded for detecting

unvalidated content

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Decentralized Curated Lists (DCLs).

DCLs can be described as digital content marketplaces that are created and

curated by anyone. Curators invite Creators with PRM Token to submit a

Digital Content Object, like a photo, through the application process. Creators

can also apply without an invite, but will pay an application fee. Buyers can

view DCLs for free, and purchase photos through a DCL License.

FUNCTIONALITY OVERVIEW

TOKEN STAKE

Once accepted to a DCL, the Creator can invest PRM as a stake for that

photo. Curators of the DCL can also invest their stake. The final price for the

DCL License is a multiple of the PRM stake and the multiplier. The multiplier is

determined by the Creator’s Margin Power.

REVENUE

Both Curators and Creators will split revenue based on their PRM stake upon

completion of a transaction.

MarginPower.

Margin Power is used as evidence-based value and determines the purchase

price for the DCL License.

FUNCTIONALITY OVERVIEW

TOKEN HOLDINGS

A Creator’s Token holdings contributes to Margin Power because  more Token

equates to more successful transactions. It demonstrates high value and

positive behavior within the community. Moreover, it shows intent to increase

the value of their content by staking more into existing work or creating more

work in the future.

TRANSACTION HISTORY

Successful transaction volume counts and values transacted  ensures that

Margin Power is calculated with the weight of real license transactions — as

opposed to merely purchasing PRM Token unrelated to licenses through an

exchange.

CALCULATION

The calculation is a function that takes into account the  total PRM Token

holdings of the Creator, the time the Creator’s Wallet was started, positive

transaction count, and average of transaction exchanged values.

ValidationNetwork. The Validation Network is a web of nodes on the Ethereum blockchain that

performs specific validation processes to confirm Proof-of-Ownership and

Proof-of-Existence for digital content.

FUNCTIONALITY OVERVIEW

REWARDS

A Challenger starts the validation process, and if there is consensus that the

digital content is invalid, all PRM staked in the Digital Content Object is

rewarded to the Challenger as a bounty fee.

ABSOLUTE VALIDATION

Absolute validation of ownership is a powerful tool in digital content licensing.

Proving ownership of content with data and computations will deter copyright

infringement, provide better Buyer confidence, and ensure overall fairness in

the digital content licensing market. Users of any PRM Protocol extensions will

need to be cautious of non-binary validations, since validations will take away

PRM staked in the Digital Content Object if it fails.

PRMExtensions.

Priime is developing the first apps on PRM by extending the Protocol for

protecting, licensing, and selling photographs. Not only is it a vital tool that will

help our existing Priime communities and photographers all over the world,

but it is a market that is valued at $4B. Priime’s products on PRM will start with

photography, but will be extendible for all other types of digital content, such

as audio, video, virtual reality models, and more.

FUNCTIONALITY OVERVIEW

PARTNERS

Priime will create early relationships with partners to create and manage their

own DCLs and integrate with the PRM Protocol. Early partners include

creative agencies, journalists, stock photographers, stock photo agencies,

and the millions of influential photographers in the ever-growing Priime

community.

PRM UseExampleA journalist is covering a controversial story.

After writing a piece on the Muslim ban protests, a journalist is

looking for some authentic photography to accompany her article.

Luckily, she follows several Curators on PRM who are known for

their authentic and high-quality work on current political events.

Removing all friction from the buying process, the journalist can

quickly license work for her breaking stories. She can trust the price

and sources through the evidence-based values made possible by

the PRM Protocol and validation checks through the PRM Validation

Network.

With PRM, the journalist works more efficiently, the Creator and

Curator of the content earn revenue, and the public is presented

with authentic, high-quality work they can trust.

PHOTO by NAHUEL F.A., PUBLISHED in the PRIIME COLLECTION MUSLIM BAN PROTESTS

PRM Flow ExampleUsing the PRM Protocol, she quickly establishes Proof-of-Ownership. Now, she can unequivocally prove she took this photo.

To get the photo listed for sale, Clara applies for that photo to be listed on a specific DCL that is a renowned marketplace for nature photography. The owner of that marketplace, known as a Curator, can either accept or reject the photo. This process is part of what keeps lists manageable with high-quality content.

When applying for the photo to be listed, Clara sets up the license. She will set the price by staking PRM into the photo and setting up a multiplier. The final DCL License price is calculated as the amount of PRM staked in the photo multiplied by the

A Creator named Clara takes a nature photograph that she wants to sell as stock.

For this photo, Clara decides on staking 10 PRM and sets a 2x multiplier for the DCL License. This calculation is limited by Clara’s Margin Power. The Curator decides to stake 90 PRM into the photo, bringing the total license purchase price to 200 PRM (100 PRM x 2 multiplier). A Buyer discovers the photo and purchases a license for use of the photo for 200 PRM.

Clara and the Curator each get their share of the sale — 10%, 90% at 20 PRM and 180 PRM.

DCO TIMELINE

(1) Clara primes the photo onto the blockchain

(2) Clara applies for the photo to be listed into a DCL with DCL License

(3) Curator accepts the photo into the DCL

(4) Clara sets a multiplier, and she and the Curator respectively stake PRM

(5) Buyer purchases a license, and Clara and the Curator receive their PRM share

MARKET POSITIONING

PHOTO © ART CHANG

Glimpse of Priime’s PRM Priime.com will be the hub for stock photography marketplaces. 

PHOTOGRAPHERS

Will have Priime accounts that help protect their

photos and manage all their licenses in DCLs through

priime.com and native apps on mobile & desktop.

CURATORS

Can create and manage their DCLs, their PRM stakes,

and have their DCLs hosted as beautiful marketplaces

on Priime.com.

BUYERS

Will use Priime.com to discover the world of stock

photography DCLs, as well as to connect and follow

influential Curators.

THE PHOTO VALIDATION NETWORK

Will be a service through Priime’s own photo/video

extension to the PRM Protocol.

Similar ModelsDIGITAL CONTENT

LICENSING

GENERAL MARKETPLACES

NO CLEAR TOKEN UTILITY

REAL TOKEN UTILITY

JANUARY 2015

JULY 2014

History & Roadmap

Initialized Capital invests in the seed

Priime Inc. is incorporated

Y Combinator invests in Priime

MARCH 2015 Priime for iPhone launches in the App StoreAnd is named by Apple as the Best New App with over 400K installs in the first couple of weeks

APRIL 2015Priime closes seed round

2019

2018

Priime RAW for iPad Priime Collections for iPhone Priime Styles for MacOS Live GIF Priime Lightroom Presets

Priime launches:

Priime begins planning and development of the PRM Protocol.

Priime releases photography end-user products and the priime.com stock photography DCL marketplaces hub.

Priime also releases photography extension code as an open-source library. Partners begin launching DCL marketplaces through Priime’s stock photography platform.

2020PRM Protocol v2.0 is released.

2015-2017

All developers will be able to develop any type of digital content type extension on PRM.

With over 2 million installs, Priime’s apps are named Best New App, Editor’s Choice, and lands at #3 in top paid apps in the U.S. app store.

Art ChangCO-FOUNDER & CEO

www.priime.com/prm

THANK YOU

PHOTO © ART CHANG