BAND Royalty offers a new type of financial model for the music industry is now possible thanks to blockchain merged with social networks that can generate new forms of streaming.
Inside this new paradigm, fans can directly connect and share with the musicians they love at the base matrix level of the songs they listen to, participating in the royalties in ways designed by artists themselves. This enables a new kind of direct relationship between fan and artist, based upon the popularity of each song.
Built as a community-led decentralized platform where artists can monetize new works and collections for their fans using musical NFTs (Non-Fungible Tokens), a new type of unique digital asset that confers private and traceable ownership over limited collections of songs, curated and designed by artists, and where each song is immutably recorded on the blockchain, making them unhackable, unconfiscatable, and tradable with other fans.
BAND Royalty is a blockchain-based ecosystem aimed at disrupting the antiquated music industry. With scalability and utility in mind, BAND Royalty establishes a growing network of features that interconnect and create a technologically advanced ecosystem for musicians to engage directly with fans and aligning their incentives. When musicians work directly with their fans to educate them on how money is made in the music business, a new type of collaborative business can develop, which begins to supplant the old distribution models of music that originated in the twentieth century. The BAND Royalty platform empowers both musicians and their fans; it allows for more creativity, quicker access to music, and incentivized pathways that enable fair value to be allocated between all contributing musicians and fans in new ways.
How musicians earn their money through current royalty structures is overly complicated and obfuscated from both musicians and the general public at the most basic levels. This has unfortunately led to multinational music conglomerates becoming the monolithic gatekeepers in the music industry solely because they are the ones who understand how the music royalty structures work. Knowledge is power, and they have profited significantly with the support of Wall Street, often at the expense of many successful musicians, music writers, and producers who, for years, have scraped by to survive, even while millions of fans have loved their music.
The BAND Royalty team has participated and studied the music royalties market for decades, realizing that things are broken. With the emergence of blockchain technology, the team has seen a new realworld application open. It provides an opportunity to connect music listeners and fans directly with their favorite music creators in multi-faceted ways that lead to a proper understanding of music rights and royalties and how the music business works. BAND Royalty’s mission is to have a tangible, positive impact on the music industry through both NFTs (non-fungible tokens) and cryptocurrency, to once and for all allow fans and music creators to be directly connected, not just emotionally, but financially as wel
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