
You asked,
we answered.
General
The original name of our project was 'projectMUSE', but after receiving a Cease and Desist Letter from the band, MUSE, (which we laugh about now) we went through a rebranding phase and settled on 'NEWM' for many reasons, including the following.
The Music Nerd Side
NEWM is derived from the word neume, pronounced /njuːm/, which is the basic element of Western and Eastern systems of musical notation.
The Branding Side
Since we are introducing a NEW Music industry model to the world, spelling 'NEWM' this way gives us endless possibilities for wordplay and makes our copywriting team very happy.
NEWM is building on the Cardano blockchain. Cardano offers an eco-friendly solution where tokens operate as native assets, providing higher security and smaller transaction fees.
$ƝEWM is a utility token.
Token Name: ƝEWM
Symbol: Ɲ
Total Supply: Ɲ 9,735,033,900 (+6 decimal places)
Blockchain: Cardano
PolicyID: 682fe60c9918842b3323c43b5144bc3d52a23bd2fb81345560d73f63
For Artists
NEWM will be a whole world of everything music! Everything artists, listeners, labels and collectors need, will be available in the NEWM Ecosystem. Uploading, minting, distributing, streaming, buying, selling, trading, tipping, ticket sales and marketplace – you name it, and we’ve got it covered.
The objective of NEWM is to be governed by musicians and fans for musicians and fans - i.e., the community. We want the artists and fans to own the platform; and that’s what the Cardano blockchain gives us the power to do.
We believe every participant in the music industry should get their fair share, regardless of whether they are a label, musician, songwriter or composer, listener or collector. The future of the music ecosystem will be in the hands of the community, we are removing all the gatekeepers and middlemen.
Account creation and basic functionality on NEWM Studio are free, meaning you can create your profile and upload (not distribute) songs, or join as a collaborator at no cost.
Music distribution services cost 14.99 USD (pricing changes and limited-time discounts will be listed on the website and reflected in the NEWM Studio payment process) per release. In addition to this, to complete the song minting process for each release, a network fee of ~3.3 $ADA is required, with an additional 1.3 $ADA per collaborator receiving royalty splits. In the future, we’ll be rolling out multi-tiered plans to best meet the artists’ needs.
First, it's important to understand the distinction between "Distributing" and "Minting." Distribution is the process of getting your song onto streaming platforms, while minting involves creating digital tokens with certain characteristics. In this case the tokens created will represent a specific percentage of streaming royalties.
Here's the step-by-step explanation of the minting process with NEWM Studio:
- Uploading: The artist initiates the process by uploading the audio file of their song along with relevant metadata, which includes song details, album artwork, and other pertinent information. Check out our ‘Best Practices’ guide for more info.
- Collaborators and Splits: If there are collaborators (i.e. people who helped create the track and are entitled to a percentage of royalties) involved, the artist adds the collaborators and defines their agreed upon royalty percentage splits. Please note that collaborators MUST have a NEWM Studio Account along with a connected wallet in order to claim future royalties.
- Payment: Before moving forward with the minting and distribution process, the artist must complete payment for the release. Once payment is made, the track will move on to the next step.
- Quality Control: Upon completing payment the song, along with all the relevant data, is ready to be submitted to our distribution partner for quality control checks. This ensures that the song meets the necessary standards for distribution. Check out our ‘Best Practices’ guide for more info.
- Distribution: Upon passing quality control, the distribution partner proceeds to distribute the song to a variety of streaming services (as well as generate any specific release codes if needed). Once generated, you’ll be able to find these codes in your NEWM Studio Account.
- Notification and Updates: At this point, NEWM is informed of the outcome of the distribution process. If successful, the platform automatically updates the song's metadata and status.
- Minting: As soon as NEWM is notified, the system simultaneously initiates the minting process and creates digital tokens representing streaming royalties for your uploaded song and distributes them to their respective owners. In the meantime, you’ll receive email notifications with specific updates throughout the process.
- Spotify
- Apple Music
- Amazon Music
- YouTube Music
- Deezer
- Tidal
- Pandora
- Google Play Music
- iHeartRadio
- Napster
- and many more!
To claim your royalties, navigate to the Wallet page to view your available earnings, then click “Claim Earnings” to transfer them to your wallet. All royalties will be paid out in $NEWM tokens (you will be able to trade/sell these for USD on a designated DEX or CEX listed here: newm.io/token).
Royalty payouts from streaming platforms typically take around 90 days for newly distributed tracks to reach the NEWM Studio, though timelines may vary based on the streaming service and the royalties generated by each track.
Once royalties are available on the NEWM Studio, there’s no limit to how often you can claim them. You can claim your royalties as frequently as you like whenever funds are accrued in your account.
No, we don't retain any of your streaming royalties or Intellectual Property (IP) – and we never will. At NEWM, we prioritize and respect your creative rights. When you use our platform to distribute your music, you retain full ownership and control over your intellectual property, as you rightfully should. Your creative work is yours to protect and profit from as you see fit.
You can sign up for NEWM Studio and navigate the platform without connecting a wallet, however, in order to distribute and mint your songs you will need to connect an $ADA-compatible wallet. While we encourage users to do their research and select the one that aligns best with their preferences, here are some user-friendly wallets to consider if you’re just starting out:
Remember, each wallet has its unique features, so take your time to explore and find the one that suits you best!
Stake Pool
A stake pool is a reliable server node that holds and maintains the combined stake of various stakeholders in a single entity. Stake pools use the Cardano node to validate how the pool interacts with the network and are responsible for transaction processing and block production.
source: docs.cardano.org/getting-started/operating-a-stake-pool/about-stake-pools
$ADA holders on the Cardano blockchain have a ‘stake’ in the network, meaning these users have a say in who should add the next block to the blockchain. If you are not or do not want to be a stakepool operator, staking with an existing stake pool allows you to ‘pool’ your resources (i.e., $ADA) together with others to receive rewards through the delegation process.
Staking your $ADA with NEWM stakepools is an easy way to get involved and support the continued development of our music project while earning some rewards and generating passive income in the process. We currently have three stakepools to choose from:
- Ticker: NEWM
Margin: 5%
Pool ID: 926b65d00c21aa1fb19e44faa2293e342578ed6a80aca4a551191a70
- Ticker: NEWMC
Margin: 99%
Pool ID: 9e5dbc61ade8b23176636e739fb056d30572c1669d2671f590b83afa
- Ticker: NEWMX
Margin: 5%
Pool ID: 40fd2f82c5b6eeee096d761c9d4c8352f3901467bd49a5658f30c6c2
For more information about each pool, or to start staking, heading to https://newm.io/stakepool/.
When you initially stake with either NEWM or NEWMX, after two epochs, you will be eligible for $ADA rewards.
$ADA rewards will be automatically updated in your wallet when your stake is eligible.
NEWM utilizes DripDropz for $NEWM Rewards’ distribution. As a core DripDropz Pool, NEWMC delegators have the option to receive $NEWM rewards instead of Ada in addition to other tokens offered on DripDropz. Learn more here.
Important: Delegators need to claim rewards every epoch (5 days) on DripDropz. For $NEWM however, your rewards stack up to 6 months.
- Active stake - When your stake becomes eligible for rewards.
- Delegator - The person who stakes $ADA in a stake pool.
- Rewards - Monetary benefits of staking for delegators.
- Epoch - How time is measured in the Cardano staking world - i.e., every 5 days.
- Saturation - A decentralization mechanism of staking shown in a percentage. Once pools receive 100% saturation, rewards are diminishing.