STASIS EURS and Music Protocol Join Forces
Delving into a New Era in the Blockchain-Based Music Industry
We are delighted to announce a long-anticipated partnership between STASIS EURS, the premier euro-backed stablecoin, and Music Protocol, a pioneering platform dedicated to the blockchain-based management and monetization of music intellectual property (IP). This collaboration marks another milestone in the convergence of blockchain technology and the music industry, aiming to provide enhanced financial stability and opportunities for artists, rights holders, and fans within a decentralized ecosystem.
Envisioning a Better Future for the Music Industry
The music industry is vast and global and touches everyone. Music Protocol focuses on tokenizing cash flows from the music streaming market, aiming at a market worth about $28 billion annually and expected to more than double by 2030. Artists stand to gain significantly. Currently, artists and labels are constrained by limited funding opportunities and are compelled to relinquish more significant returns. They will benefit from expanded options in the future, enabling them to surrender lower returns.
Music Protocol is at the forefront of a movement to address some of the most pressing challenges facing the music industry today. The team’s approach to tokenizing RWAs is designed to unlock the immense value stored in real-world assets, including music IP. The platform seeks to revolutionize how music IP is registered, managed, and monetized by leveraging blockchain technology. Historically, the music industry has been plagued by fragmented and inefficient data management practices, leading to challenges in rights verification, revenue distribution, and legal disputes.
Previous initiatives, such as the Global Repertoire Database (GRD), aimed at creating a unified global database for music IP but were unsuccessful due to collaboration, funding, and governance issues. Music Protocol’s innovative approach addresses these challenges head-on.
The Music Industry and Blockchain — A Revolutionary Convergence
The global music industry, valued at over $26 billion today, has been historically plagued by fragmented rights management, opaque royalty distribution, and limited financial inclusion for artists. With the rise of blockchain technology, the potential to address these issues has never been more promising.
Music Protocol is at the forefront of this transformation, leveraging blockchain to create a decentralized and transparent platform for registering, managing, and monetizing music IP.
Music Protocol’s RWA tokenization framework is designed to offer flexibility and security, ensuring that assets are properly valued and managed throughout their lifecycle. This process includes the following key elements:
- Asset Structuring: Music Protocol structures music IP and other RWAs as digital assets on the blockchain. This involves creating a clear, legally compliant framework that defines the ownership, rights, and economic value of the asset.
- Valuation and Liquidity: Once structured, these assets can be tokenized and traded on the blockchain, providing liquidity to what have traditionally been illiquid assets. This opens up new possibilities for financing, as these tokens can be used as collateral or sold in secondary markets.
- Compliance and Governance: Music Protocol ensures that all tokenized assets comply with relevant regulations, providing a secure and transparent environment for trading. The platform’s governance model, supported by the $RECORD token, allows stakeholders to participate in decision-making processes related to asset management and platform development.
Economic Impact and Market Potential
The global music NFT market size was $1,350 billion in 2021 and is projected to reach $1.50 billion in 2031, exhibiting a CAGR of 28.23% during the forecast period, driven by the increasing adoption of blockchain technology and digital assets. Music Protocol’s approach to tokenizing music IP on the blockchain unlocks new revenue streams for artists and creates a more transparent and efficient system for rights management. This is particularly important given the current challenges in the music industry, where disputes over rights and royalties are common. By offering a decentralized and immutable ledger for music IP, Music Protocol significantly reduces the potential for conflicts and ensures that artists are fairly compensated for their work.
STASIS EURO, the leading Euro-backed stablecoin, will play a crucial role in this partnership. EURS provides a reliable bridge between traditional finance and the digital asset economy, offering stability and trust. EURS, a stablecoin pegged to the Euro, provides a digital alternative to the conventional Euro, offering the benefits of cryptocurrency technologies such as unrivaled 4-stream transparency, robust security, and immediate transaction capabilities on 7 blockchains without the volatility typically associated with digital currencies.
Developed by Stasis, a leading stablecoin Malta-based issuer, EURS aims to bridge the gap between decentralized finance (DeFi) and the everyday consumer. STASIS EURO is audited by the BDO, and all the digital assets are backed on a 1:1 basis with liquid euro balances, with reserves held at the Lithuanian Central Bank.
The EURS Network, powered by EURS, is an integrated ecosystem encompassing various crypto exchanges, financial services and platforms, and digital wallets. This hub is designed to provide users with a comprehensive suite of tools for managing and transacting in the EURS stablecoin. This integrated environment aims to enhance the practicality and usability of the EURS stablecoin for various financial transactions.
This partnership between STASIS EURS and Music Protocol represents a shift toward a more equitable and transparent music industry. By combining the stability of STASIS EURS with Music Protocol’s innovative approach to IP management and rights monetization, the partnership seeks to create a platform that empowers artists, benefits fans, and ensures the long-term sustainability of the music ecosystem.
Looking Ahead
This new collaboration has the potential to set a new standard for how the music industry operates in the digital age. By providing the necessary infrastructure for a global, blockchain-based repository for music IP, Music Protocol, with the support of STASIS EURS, is paving the way for a future where the music industry is more inclusive, transparent, and artist-centric.
To learn more about Music Protocol, check out the links below:
