15.8 C
Manchester
September 23, 2020
Image default
Bitcoin

Blockchain platform allowing investment in royalties Blocksats

The Luxembourg start-up ANote Music will launch a platform based on blockchain technology that will allow its users to invest in music royalties.

ANote music investment platform

On July 28, Luxembourg’s ANote Music start-up will launch a blockchain-based platform that will allow users to invest in music royalties.

In a June 4 announcement, CEO and co-founder of ANote Music, Marzio Schena said the platform aims to “bridge the gap between the music industry and capital markets.”

The platform is supposed to help artists, record labels, publishers and songwriters achieve financial independence, allowing them access to finance through the sale of royalties. After making the investment, the buyer will receive part of the copyright and be able to trade it with other users on the platform. Prices will depend on supply and demand. Marzio Schena explained:

“Our goal is to unleash hidden value in music, both for investors and artists, by creating a stock market platform for musical investments. We are glad that we can be a pioneer of alternative investments, while revolutionizing traditional systems in the music industry. “

ANote Music’s general director of technology, Grégoire Mathonet, explained that the company decided to use blockchain technology to ensure its users transparency and easier identification. He said:

“All recordings are saved to the private Ethereum network and regularly backported to the main Ethereum network that uses Ethereum Plasma.”

Contract with the Italian label Irma Records

Anote Music has entered into an agreement with the Italian label Irma Records to introduce 200,000 euros to the platform in its shares.

“Together with Irma Records, we bring mature and solid investment capital to early ANote Music users. At the same time, it is a good reference point for the type of music users can expect on our platform once it is officially launched. “

Irma Records was founded in Bologna, Italy, in 1988. Mathonet added that the company now has offices in Japan and the United States. He also praised the label’s achievements:

“Irma Records had consistent and protected royalties with an extremely stable license fee profile. The standard deviation has only been 3.8% over the past five years. In the period from 2014 to 2019, due to license fees for music, Irma Records generated an average annual income of over 230 thousand. euro”.

Related posts

1.2 TB of data leak from seven different VPNs discovered |

Aparnna Hajirnis

JPMorgan Chase publishes positive report on Bitcoin

Anupreet Kaur

We check in which provinces prices in Poland are growing the most |

Aparnna Hajirnis

Leave a Comment