The NEWMusic Movement
We're building more than just a product; it's a music industry movement.
Disclaimer: This article may seem like humble brag (and it is a little, what can we say), but it’s also a detailed look at the chief cornerstones of our fair, music ecosystem. So, bear with us, because what we’re building will change how we look at music forever.
Music is a powerful art and has been one of the most vital forms of self-expression dating back centuries. We’re creating a new asset class and making music a collector’s item again.
NEWM is a legacy project aimed at disrupting the current predatory financial structures of the music industry by seamlessly uniting the worlds of web3 and music in a whole new ecosystem/universe… The NEWMiverse – an all-in-one music streaming marketplace dedicated to artists and fans.
Take a journey with us through the ‘5 Tenets’ that make up the NEWMiverse, and learn how you can be a part of this NEWMusic Movement.
1. Own The Music
We are essentially creating a suite of tools for musicians to receive higher revenue and have more creative control over their art. How is this possible, you may ask? Through the fractionalization of Intellectual Property (IP) rights. This is a game changer in the current music industry model, and the Cardano Blockchain gives us the power to build this in a secure and legally-sound manner. With projectNEWM, artists have a way to generate upfront operational cash through selling or auctioning portions of their music IP rights (as they see fit) to music lovers, collectors or investors. In this same vein, fans are given the opportunity to tap into a multibillion-dollar market that was unavailable before. The bottom line – everyone has an equal opportunity to support the future of an artist and benefit from their success.
Our Minimum Viable Product (MVP), which will include the Artist Portal and the fractionalization of IP rights is launching soon! Subscribe to our newsletter in the footer to launch-date notifications.
2. Sell & Trade NFTs
Tenet two is where music meets Decentralized Finance (DeFi). The NEWMarketplace enables users to buy, sell, trade and auction music IP rights in the form of NFTs with secure and verifiable digital contracts. Consider this the ‘Exchange’ part of the NEWMiverse.
3. Collect Royalties
This part is pretty short, sweet and to the point. Our music ecosystem will include an automated process for royalty collection and distribution embedded in its foundational code. This ensures every music owner is fairly compensated according to their ownership percentages.
4. Stream & Earn
Normally, a musician who isn’t signed to a label would have to pay a large fee to a third party to get their music onto the streaming platforms. With NEWM, this dilemma doesn’t exist. There is no longer a need to go to a separate platform to upload music and then yet another one to track metrics because the NEWMiverse includes a decentralized streaming platform. Decentralized music streaming generates higher and faster royalty payouts per stream for all music owners. We’re replacing the middlemen with code that’s not incentivized to act in favor of third parties that take a huge cut of streaming revenue.
5. Vote & Be A Part
Imagine a world where you can go to your community and request funds to produce something that could benefit everyone. It’s a powerful thing and would allow yet another income opportunity – e.g., artists looking for ‘startup’ capital for their next EP idea. Through DeFi and the creation of a Decentralized Autonomous Organization (DAO), the future of the NEWMiverse will not only be in the hands of the artists on the platform, but also the entire NEWM community, not a gatekeeper or company (including projectNEWM).
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