Musicians vs. Record Labels– Problem Solved
2022.04.01 10:10
Musicians vs. Record Labels– Problem Solved
- Vuzec is a music blockchain startup that aims to liberate the music industry.
- It is building the first-ever decentralized marketplace for artists across the globe to monetize their albums as “shares”.
- Vuzec’s innovation aims to create an accessible platform and become a household name.
Global music revenues were reported at $25.9bn in 2021, the highest it had been this century. Despite this, the music industry, or specifically, artists of the industry continue to struggle. For starters, funding has been a primary concern, apart from the obstruction of creative liberties and others.
Numerous solutions have since been implemented to rectify the persistent issue between artists and record labels but subsequently failed shortly after. The result is a restricted creative outlet for the artists and relinquished ownership of their rightful work.
Vuzec is a blockchain music start-up that collects royalties from DSPs, Publishers, and PROs, and redistributes them to shareowners of an artist’s album– their fans, investors, and the public who helped them raise capital for their album and have a vested stake.
Our mission is simple, but important – to liberate the music industry.
It is the first-ever decentralized marketplace for artists across the globe to monetize their albums as “shares” and allow people to purchase them as tokens. This ensures that the artists themselves benefit from the monetization and their fans and followers receive something in return.
With the recent rise of NFTs (Non-Fungible Tokens) online, many renowned personalities have shown an ambitious interest to cater to and collaborate with the same. Since 2021, Snoop Dogg had launched a range of his NFT collections, including a metaverse game on The Sandbox, and much more.
It is safe to say that between artists wanting to create music liberatingly and record labels aiming to ‘milk’ profits, the gap only widens. Artists nowadays are wary of such mistreatment and are looking for new solutions to the said pressing concerns. Vuzec steps in to rectify those concerns and aims to revolutionize the music industry.
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