Using DeFi and NFTs to Shake Up the Music Industry
Unchained Music uses the Charged Particles protocol to make music distribution FREE, and that’s just the beginning.
Equitability, financial sovereignty, and lowering barriers to entry within our global marketplace are a few among the many of crypto’s core ideals. These principles, which many would consider the life blood of Web 3.0, are what continue to motivate builders and attract artists from all walks of life. We’re all here looking for a better way, and the legacy music industry is one place in particular that is ripe for change.
Unchained Music is here to help lead that charge.
Built on the Charged Particles protocol, Unchained Music uses DeFi NFTs in a novel accounting structure that enables them to distribute music to all the major streaming platforms (Web 2.0 and Web 3.0) for free.
But let’s not get ahead of ourselves.
How does this piece of the music industry work in Web 2.0?
As a musician in the modern world, it is imperative to your success that your music is streamable on platforms such as Spotify, iTunes, Tidal, TikTok, and all the rest. It is very nearly impossible to ‘make it’ as an artist in 2022 if your music isn’t accessible in this way.
In order to distribute your music to the ~200 streaming services, you typically go through a company such as Distrokid or TuneCore which charge a yearly subscription fee or per album upload fees. For musicians just getting started and those less privileged, this barrier can be enough to seriously hinder their growth or cut it off all together.
Unchained Music, however, can offer this same service and deliver 100% of the royalties earned from these platforms, for free, forever.
After initially eating the cost of the distribution itself, Unchained Music mints a DeFi NFT on Polygon through Charged Particles. When the royalties for that musician are returned by the various streaming platforms, they are nested inside the NFT and begin to earn interest through the protocol’s integration with Aave. Unchained Music keeps the interest as revenue and is able to return 100% (or even more than 100%) of the royalties to the musician.
This use-case of NFTs as accounts happens entirely on the backend of the platform which means users without a crypto wallet can utilize the benefit of DeFi without needing to onboard.
Having secured numerous major partnerships in the music industry alongside a successful pre-seed funding round and Gitcoin grant, founders Matt Waters and Matthew Busch are confident in their mission to bring greater equity to musicians around the world using the power of DeFi and NFTs.
The team has continued to make outstanding progress on building out our music distribution system in line with our roadmap, and we’re extremely excited to open up our beta testing later this year to give access to all musicians. Unchained represents the beginning of a new industry focused around artists and their needs, rather than extractive middlemen. We’re excited to be helping to lead this charge.
-Matt Waters, CEO
If you see the vision, we’d love to talk to you.
Charged Particles Discord
Unchained Music Discord
Learn more:
About Charged Particles
Charged Particles is a protocol that allows users to deposit ERC-20, ERC-721, and ERC-1155 tokens into NFTs. A scarce NFT (e.g. Art, Collectible, Virtual Real Estate, In-Game Item, etc.) can now be transformed into a basket holding a number of other tokens. The Principal amount can be time-locked inside the NFT, and through integration with Aave’s aTokens, the programmable yield from these DeFi yield-generating assets is just a few clicks away.
Endless applications of DeFi NFTs!
✅ DAO Capsules | ✅ Vesting Capsules | ✅ Escrow Capsules | ✅ NFT Trust Accounts | ✅ Gift Baskets | ✅ Improved NFT Index Funds | ✅ Financially Appreciating Artworks | ✅ Nested Bundles of Artworks |✅ Composable PFPs ✅ Redemption Tickets | ✅ Creative Crowd-funding Campaigns |
✅ Company Token Promos
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