anotherblock Integrates Superfluid to Revolutionize the Music Streaming Model
Today’s music streaming model has long been criticized for its lack of fairness and transparency, with many music creators receiving only a small fraction of the revenue from their work.
At the same time, its rigid power structure has made it difficult for musicians and fans to connect with each other. As a result, there’s been a growing demand for a more equitable music industry; one that empowers both artists and fans and allows for a more direct and meaningful relationship between the two.
anotherblock, a platform and community for music NFTs, aims to shift the balance of power in the music industry by opening music rights ownership to the world — helping fans become their own record label and supporting musicians as they enrich our culture. To date, the company has worked with producers behind the hits of A-list artists like Rihanna, The Weeknd, and Offset, as well as musicians like R3HAB and Laidback Luke. Whether it’s a music producer, artist, or publisher, anotherblock is rights-holder agnostic, allowing them to work with anyone that owns master points in a track.
anotherblock currently has over 700+ NFT holders that have contributed over US$600,000 in trading volume thus far; but a growing, financially sustainable platform for music NFTs requires crypto-native payment rails capable of powering it — which is exactly where Superfluid comes in.
How anotherblock Leverages Superfluid to Transform Music Streaming
anotherblock’s NFTs function as ERC-721 tokens with a custom ID, where the ownership percentage of each song is stored on-chain. When users purchase an NFT (aka Drops) through anotherblock, they receive rewards according to the amount of their ownership, as well as:
- a real-world legal contract specifying the terms of the streaming rewards and guaranteeing real-world ownership for the NFT holder
- unique artwork created by NFT artists
- custom soundtrack
Click here to learn more about how anotherblock NFTs work.
While anotherblock plans to stream stablecoin rewards with Superfluid to NFT holders soon, the company is currently only streaming its utility tokens, which are referred to as anotherblock tokens (ABT).
anotherblock’s utility tokens are intended to reward users for participating in its ecosystem, and in the future can be burned to redeem merch and other items through its website. Whenever a user mints/purchases a music NFT from anotherblock, a stream of ABT is automatically opened.The flow rate depends on the wallet’s ownership activity, in other words, what drops you own and how many. If you happen to sell or transfer the NFT to a different address, the remainder of the ABT stream is automatically redirected to the new owner!
As it prepares to enable rewards streaming across its entire platform, anotherblock recently synchronized all of its current NFT payouts using the Superfluid Instant Distribution Agreement (IDA). By utilizing the IDA, anotherblock was able to distribute rewards (in this instance, USDC on Optimism) to hundreds of NFT holders in a single transaction, and at a fixed gas cost.
“Human beings crave connection, and there’s no more powerful way to connect with others than through music. Whether you’re a fan or a musician, anotherblock presents an opportunity to deepen these relationships on an unprecedented scale. With our integration of Superfluid, we now have a way to ensure those relationships are financially symbiotic — giving artists a sustainable revenue stream and fans a share in their success, all in real-time.”
- Filip Strömsten, Founder and COO of anotherblock
Making Music Streaming More Meaningful for Artists and their Fans
While anotherblock continues to build out its platform, the team is focused on deepening relationships with notable music rights holders (e.g., artists, producers, songwriters, labels, catalog holders), expanding their pipeline of tracks, and growing their community.
To learn more about anotherblock and how it works, we invite you to join us for a Twitter Space with their team on Friday, February 17 at 5pm CET.
Alternatively, if you’re a web3 business or developer interested in integrating Superfluid into your own product, don’t hesitate to reach out to us here!
anotherblock is a music NFT platform that provides real-world value by streaming song royalties on-chain. By collecting anotherblock NFTs, you earn a percentage of the streaming royalties based on the performance of world-renowned songs. This means that when songs are played, you as a holder, get paid.
Superfluid is the leading asset streaming protocol that enables Web3 native subscriptions, salaries, and rewards for DAOs and crypto-native businesses. Superfluid streams transfer value in a constant flow over time between wallets in a non-custodial and permissionless manner. Superfluid Protocol can be used to describe cash flows and execute them automatically on-chain, over time, and in a non-interactive way. Money streams are programmable, composable, and modular, allowing developers to build custom applications on top of the protocol. No capital is locked up, and all inflows and outflows are netted in real-time at every block without consuming any gas. Ongoing streams can be forwarded as they are received to both wallets and applications, eliminating delays and drastically increasing capital efficiency.
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