The world is changing rapidly and so is the technology behind the music industry. In this field, blockchain makes the show thanks to its incredible features such as NFT, smart contracts, etc.. There are many gamers who push the limits in this incredible field, but in this article we want to focus on two of them: Audius and Revelator.
Audius, the blockchain-based digital streaming service.
Audius is a digital streaming service that connects fans with artists as well as exclusive new music. It achieves this by being completely decentralized: Audius is owned and operated by a thriving open source community of artists, fans and developers around the world. Audius allows artists to share original music and directly monetize streams. Audius allows developers to build their own apps on top of it, giving them access to one of the most unique audio catalogs available.
Audius was founded in 2018 and serves millions of users every month, making it one of the largest crypto apps ever. It is backed by a team of renowned investors.
Audius has 5 million monthly active users, making it the largest mainstream blockchain application.
Audius, a decentralized music app, now has five million users, making it one of the first truly successful consumer Web3 apps. Audius has experienced steady organic growth since launching in 2018, driven by community-driven marketing.
Blockchain can do some really amazing things for music. This can enhance the experience of music fans and ensure artists control over their valuable work. We’ve worked to create a strong, engaged community and an easy-to-navigate interface, and that’s what attracted and retained fans and musicians on Audius. – Roneil Rumburg, co-founder and CEO of Audius
Because Audius is a decentralized protocol, every user is also an owner. Audius’ utility token provides these owners with a clear means of influencing and modifying the service to meet their needs. Therefore, Audius has become a popular place to experiment for tech-savvy artists such as deadmau5 and 3LAU., but it has also provided a much-needed refuge for specialist stages and cross-genre exploration, music often underserved by existing music streaming services and platforms. What happens and what takes off is determined by the community, which now has 5 million members.
The first streaming service to integrate with TikTok Sound Kit.
In August, Audius was the first DSP to launch with TikTok Sound Kit. Over 100,000 Audius artists are just one click away from reaching TikTok’s estimated billion users. The whole process of just uploading a track and clicking “Share on Tiktok” takes less than a minute. The tracks can then be played behind their own videos and chosen by the entire TikTok user community.
Audius co-founder Roneil Rumburg is appointed a member of the Forbes 30 Under 30 List for Finances.
Revelator, the leading blockchain-based digital asset management platform.
Developer is the leading blockchain-based digital asset management platform for creative intellectual property, allowing anyone to participate in a safe and robust market. Revelator is a unified data platform for asset management, supply chain management, business intelligence, financial reporting, royalties and payment distribution.
Revelator’s Web3 infrastructure converts creative intellectual property into digital assets and provides cutting-edge protocols for fractional ownership, smart contracts and real-time on-chain music royalty settlement to the digital portfolios of individual rights holders.
Revelator’s Original Works integrates with the Flow Blockchain.
Original Works, the leading Web3 protocol for musical intellectual property, converts musical intellectual property into a digital asset and connects traditional revenue channels to on-chain protocols, allowing artists to easily monetize their intellectual property while maximizing returns on the market. ” their entire portfolio. His Artist portfolios have already been successfully tested with the innovative Finnish artist services company Family in Music, making it one of the first real applications of blockchain technology for music rights and royalties.
It’s so exciting to see Flow become the blockchain for music creators, IP owners, and fans, and this is just the start. Revelator is truly a game-changer for artists with original works by giving them the tools they need both upstream and downstream to monetize their musical IP. – Mickey Maher, Senior Vice President of Partnerships, Dapper Labs
Revelator envisions a time when tens of thousands of artists their clients work with will benefit from Original Works Web3 protocols, which will allow efficient payments and a better user experience. Flow will be crucial in these efforts as it simplifies the process of chaining assets quickly and securely. Directly from their artist portfolio, artists and rights holders will be able to create, manage and sell digital collectibles in marketplaces.
The most advanced decentralized protocol for music rights.
After several very successful pilot projects involving both publishing and performing rights, Revelator introduces decentralized blockchain / technology to its vast customer base. According to the company, the system will be the most advanced B2B layer of its kind for music, allowing millions of dollars to flow directly into rights holders’ non-custodial wallets. And, unlike other futuristic blockchain and NFT solutions, this one is real.
This pilot demonstrates that blockchain-based music rights administration is not only feasible, but also has the potential to significantly benefit creators. It builds on several other very successful tests of the technology with the world’s leading publishers, as well as with Finnish CMO Teosto and music usage monitoring experts BMAT, who pay royalties to songwriters and to publishers. This pilot used a smart contract per version to ensure that the money flowed into the artist portfolio within minutes, with lower fees than traditional royalty collection structures charge.