What's the Problem?
The music industry is not (and never has been) set up in favor of the artists. The contracts are filled with legal jargon and large percentages of ownership of the creative works often end up in the hands of the label in exchange for a one-time up front cash advance to the artist that they eventually have to pay back.
Time and again over the years we’ve heard about artists unknowingly signing these bad record deals. Nevertheless, fans still had a way to directly support the artists they love by purchasing their music. Fast forward to today, and largely due to the advent of streaming, the average listener consumes music for free or a nominal subscription fee without any knowledge of how their favorite artist(s) are being financially compensated.
As indie artists and tech web3 enthusiasts ourselves, we set out to solve this problem. Our mission is to help educate, collaborate and transition the culture to the blockchain.
As a result, we have partnered with NEWM.io to build the tools required to scale the web3 music industry.