Los Angeles, CA, July 16, 2021 (GLOBE NEWSWIRE) — (via Blockchain Wire) OnChain Music, a company designed to help artists, bands, singer/songwriters, DJs and musicians earn royalties on the blockchain, has released its artist and label roster. Concurrently, the company has just released its OnChain Music token (MUSIC), which is now officially live and trading on UniSwap and PancakeSwap. The announcements were made today by Ben Kopec, OnChain Music’s CEO and Founder.
In addition, OnChain Music has just launched its new Road Map, which outlines its timeline for upcoming developments; published a White Paper on Blockchain Music Distribution and Digital Asset Management for Musicians written by Kopec (to read, CLICK HERE); and is currently also working on new staking opportunities, which will allow people who stake the $MUSIC token to earn more tokens.
For a complete list of the artist and label roster distributed by OnChain Music, please CLICK HERE
In just the past eight months, blockchain music platforms have created entirely new royalty streams for music artists, but, according to OnChain Music executives, many musicians don’t understand the mechanics of digital assets. Therefore, large numbers of musicians are not collecting as many of these royalties as could be made available to them. Pursuing and keeping track of multiple blockchain music aggregators and royalty collections can present a lot of challenges. Technical hurdles can create frustrations for the user, and tasks such as metadata management and digital asset (including cryptocurrency) management can be very time-consuming and overwhelming.
OnChain Music was established to provide products and services to help bridge the gap between musicians and their blockchain royalties. By facing these obstacles head-on, the company has the expertise to remove the burden musicians often face when dealing with technological barriers, management of content distribution and digital assets, and collection and disbursement of royalties. OnChain Music oversees and manages these aspects so artists and musicians can continue to focus on their creative passions – making music itself.
Regarding the launch of his new company, Mr. Kopec said, “At our core, we believe in helping musicians generate new streams of revenue and maximizing royalties for our artists, bands, composers, singer-songwriters, DJs, and musicians of all types. We operate with the idea that we shouldn’t make any money unless our artists are making money. Therefore, our business is designed around a revenue sharing model. After collecting money from our clients, such as music aggregators, we retain a small fee and then remit the rest to the musicians. Our goal is complete transparency – we share all available metrics with our musicians. When possible, we connect to blockchains and pull in relevant data so that our musicians can see the same information we see.”