Utopia Genesis Foundation

Copyright holders, whether this is up and coming artists, songwriters, producers, labels, catalogue owners or publishers, will also benefit from a new potent means of monetising their music rapidly. This can be incredibly important considering how slow payment cycles can be in the music industry. Take for example the loss of live performances caused by the pandemic: a small artist whose live performance revenues have been decimated could quickly tokenize and hence monetize their music and invest the profits in marketing campaigns to help boost their digital revenues. Such rapid infusions of liquidity are rare to come by for copyright holders in the music industry.

The tokenization of music copyrights by their owners is an attractive proposition for copyright owners of all types, including the emerging trend of copyright catalogue funds. The sums of institutional investment funds that are looking into music copyrights as an attractive alternative asset have never been greater, particularly amidst the pandemic that has encouraged investors to look for investments uncorrelated to the markets. The biggest banks in the world are now looking at the music industry with much interest ever since the recent years of overall industry growth that have followed two decades of declining revenues during the industry’s transition to the digital world. Catalogue funds that we are in contact with have already signalled their interest in tokenizing parts of the catalogues that they acquire, as this presents a potentially lucrative method of re-monetizing their assets. Their interest in tokenizing parts of their assets will create the engine that continues to pump more and more valuable copyrights on to the marketplace and turns the market into a self-sustaining organism. Ownership of classic catalogues that have typically been reserved for the major labels and publishers will now be made available to millions of fans, many of whom will be very keen to own a portion of their favourite song. Asides from our tokenisation initiatives, we are also in a strong position to enable the creation of many applications on subjects such as marketing effectiveness and consumer understanding, tour planning, and even applications that can collect even more data which can then be fed into the platform. The possibilities are endless, and by allowing members of the Foundation to access the data via an API and develop their own applications, a stream of creativity will be unleashed.

All things considered, the Utopia Genesis Foundation remains true to the mission statement of the company, enhancing the music industry by helping it leverage the power of modern technologies for the better. The way the Foundation tackles this goal is by avoiding the disruption of the current industry money flow, instead creating new avenues of evolution for the industry by leveraging the data that the company collects in innovative ways, the most important of which is the tokenization of music copyrights. By democratizing ownership of music copyrights and capitalizing on the increased interest of institutional investors into music copyrights, a blockchain-based marketplace will evolve into an impressive secondary market for copyrights and create profitable new methods of monetisation for music copyright owners of all kinds.

Artists can tokenize their music rights. This means that the royalties to a song are embedded on a security token, which transacts across the blockchain. A security token can represent the rights and legal responsibilities of the token holder, along with an immutable record of ownership. The inherent transparency of blockchain technology ensures you know whom you are dealing with, the rights of the parties involved, and who previously owned the asset.

Every new song added to Genesis will be attributed to The International Standard Recording Code (ISRC), which entitles the owner to receive revenue from the track. A song, for the first time, is now encoded on a blockchain database.

Now that it is in the blockchain, the possibilities for the music are endless.