Music Platform Raises $2.5 Million For Blockchain-Based Music Rights Technology
Last week music startup Revelator raised around $2.5 million by offering a new kind of tracking for music rights and for allowing royalties to be more efficiently distributed to the correct owners. At the heart of their proposed technology is the Blockchain which can be used to effectively record any kind of transaction or event. Similar to other companies, Revelator is finding applications for the Blockchain in other unrelated industries - in this case - music. The drastic efficiency and real-time updating of Blockchain allows Revelator to track the use of digital goods and distribute....
Related News
Revelator, a cloud-based provider of sales and marketing intelligence for independent music businesses, has raised $2.5 million this week in its recent Series A funding round led by Exigent Capital. Revelator promises to efficiently track music rights and distribute royalties to rights owners. It issues copyright registrations as digital assets secured by multi-signature authentication and enforces multi-party terms and jurisdiction compliance rules. Exigent was joined by Digital Currency Group, which invests in Bitcoin and blockchain companies. “If you have data every day, why can’t we....
From creating a music library for film and television to licensing blockchain-native content, projects are bringing music to the blockchain. While critics use the bear market as an opportunity to pounce on crypto and belittle its value, some projects take this chance to develop and launch industry-disrupting platforms on the blockchain. In July, firms launched or revealed their intentions to construct blockchain-based music licensing platforms that aim to change the way songs are licensed by reducing costs, removing intermediaries and bringing all of blockchain’s inherent benefits to the....
In an interview with Forbes, Union Square Ventures' Andy Weissman shared how blockchain technology could be applied to the music industry. Apart from tracking intellectual property rights on music streaming, it could also serve as a better model and means for profit-sharing among artists and producers. Blockchain is the public ledger of bitcoin transactions, which is updated and verified by a network of computers solving complex algorithms. As such, it is considered an immutable and irreversible record, yielding several practical applications in record-keeping and database management.....
Music-centric NFT platform OneOf has announced that $63M in funds have been raised, with a large bulk of the funds going towards artist rights. Additionally, funding will supply team expansion, building the platform’s existing technology, and supporting independent artists. OneOf is preparing to launch the environmentally-focused NFT platform on the Tezos platform. The OneOf Launch […]
According to a recent report from the Financial Times, music streaming is set to overtake CD and vinyl as the largest generator of income for British record labels in 2017. The report states that as more people opt for subscriptions to streaming services such as Spotify and Apple Music, revenues in the sector were pushed to a five-year high last year. Total income generated by the U.K. music industry increased by 5 percent to £925 million ($11.6 million) in 2016, from £881 million ($11.1 million). Yet despite the popularity of the music industry, musicians often find themselves unfairly....