August Update — News from Engineering, China, and more!
With summer well underway, we’ve been planning for an expansive and exciting Q3 with a number of major steps towards finalizing the release of our app and furthering Vezt’s growth as an international company. In this update, we’ll be covering the above two topics in addition to sharing a brief update from our (exceptionally busy) Engineering team.
Guests from Overseas
Our European market consultants Xavier and Hedia are in town from Paris meeting with the team at our LA headquarters. During their time in town, they’ve introduced us to a number of high profile artists and producers interested in hosting their music on the platform. While we can’t share most details on these advancements just yet, we’re excited that they will add to our overall launch catalog.
Son Seungyeon
Son Seungyeon, a Korean music icon, winner of The Voice Korea, and important partner to Vezt Korea, visited our LA headquarters last week, to meet with our US team and high profile industry contacts in town. Son Seungyeon will be contributing to the Vezt catalog in addition to exploring organic content created specifically for an ISO.
During her time in town, Seungyeon and the team visited Grammy Award winning producer/writer Walter Afanasieff, Platinum Certified Songwriter Andreas Oberg, our own Chief Strategy Officer, Andreas Carlsson, members of Universal Music Publishing, French performing rights society SACEM, and many more.
China
Earlier this month Steve and Robert visited Chengdu and Hangzhou, China, after being invited to meet directly with investors, music and tech companies, and government officials there. The goals of this trip included deepening contacts in the Chinese music industry, understanding the Chinese royalty collection system and exploring investment opportunities at both public and private levels. They were fortunate to meet with a number of experienced and established individuals who operate record labels and publishing companies in the country and have secured a test with some top Chinese songs that will be made available to fans outside of China through the Vezt platform. More to come on this very soon.
Vezt featured on the Pitchwerks podcast
Last week, our own Steve Stewart was featured on the 5-Star rated podcast, Pitchwerks. During his time on the air, Steve detailed the Vezt platform and discussed problem-solving within the music industry. To listen to the segment, check out Pitchwerks’ page here: https://www.pitchwerks.com/podcast.
VEZT Private Beta
We are continuing to refine the beta iteration of the app and actively testing a number of functions for implementation at scale. More news on getting involved in this process will be available soon.
Along with these notes on the current beta, our latest update from the Vezt Engineering team includes details on the backend payments process and testing of the Vezt smart contract on our private nodes:
“The Vezt engineering team has been working on refining our contribution model for our Vezt Offerings. This is how we handle payments to and from Offerings handled on the system. For instance, when a payment is made by a user into a Vezt Offering, we have to determine the stake amount purchased in order to calculate the royalty payout for each statement received by us. The details of these transactions are written to the Ethereum blockchain using our Vezt Offering smart contract which is currently processing test transactions on our private nodes — we are extensively testing before launching our contract on the network. This layer of transparency shows the royalty stream income recorded on our system is verifiable by a third-party.”
Stay tuned in the following weeks for details on our upcoming release, our ISO launch catalog and much more!
