• Record Label DAO

Bringing transparency to the music industry through web3

Updated: Sep 1

Building a better standard for the music industry is something we're striving for. For this reason, we want to showcase artists, founders, and other music enthusiasts that are working on their own projects to fulfill this same vision.

Today, we bring to you an interview with Adrien Stern; Founder & CEO of Reveel. For those who don't know the project, Reveel is a web3 revenue share company for musicians and creators.


Keep reading to learn more!



What can you expect in this article?

What is Reveel Why is important to have a transparent royalty distribution system

The importance of decentralization in a creator economy

Advice on how to create in web3



Reveel is a “revenue share protocol that allows a trustless, gas-efficient and compassable way to distribute Web3 earnings with collaborators.” Which, to us, sounds exciting but could you explain what that means to someone who just got into web3?


In simple terms, Reveel makes it easy to automatically & instantaneously share revenue with collaborators.

Let’s use the example of music. In web2, when a song is streamed, the streaming platform pays out a distributor & PROs, who in turn pay out the label & publisher, who eventually pays out the artist & collaborators on the song. This process has 3 main issues. First, it can take 3-24 months - no one should be ok getting paid 2 years later! Second, each intermediary takes a cut, leaving the artist with on average 12% of the initial revenue! Third, the artists & collaborators have to trust that each middleman is doing their accounting truthfully and not keeping a bigger share than they should.

On web3, artists & labels who use Reveel don’t have these issues. They can create a Reveel Revenue Path - a smart contract - that will automatically receive all the revenue from an NFT sale, immediately share it between the different parties involved, based on the agreement the parties have, and each party can withdraw their share of earnings whenever they choose. This means immediate payout, without middlemen, and without having to trust that anyone is doing their accounting properly.



What does “Reveel” mean, is it a play on the word “reveal” or am I reading too much into it?


Absolutely, when we founded Reveel, we were looking to solve the opacity that occurs around royalty payments in the music & entertainment industry. We believe that transparency & equity are the foundation necessary to building a new media industry, one where all creators can easily understand & trust revenue from their work and can easily own shares & equity in the projects they collaborate on. So the ideal of revealing who are the collaborators & the revenue flows is what led to our name.


What was the inspiration behind the project? How did the initial idea come about?


In the early 2010s, had the opportunity to write a song for a predominant Chilean artist. The song made it on his album and was getting a lot of airplays. As an independent artist, signed to a PRO, it took me over 2 years to see my first royalties trickle in! It was a nightmare trying to get any information about how much revenue the record was generating and I was left with either trust that all the parties were being fair or hire lawyers and require audits, which was not worth it financially.


In other words, I had no way of knowing if I was getting paid fairly. Unfortunately, this happens to virtually every professional artist. So when I started digging into blockchain, in 2016, I was immediately interested in how it could eventually redesign the digital supply chain & help creators get paid. And that’s exactly what we’re doing with Reveel.


How would you hope that Reveel changes the game in the Web3 space? What are some of your most ambitious goals?


We want to enable millions of people to create & collaborate seamlessly. According to the latest research, over 300 million creators are now taking part in the creator economy. And a growing amount of the content we consume is created in collaboration between multiple creators.


Think about songs with multiple band members, podcasts with multiple speakers, video content with producers, editors, or actors, and even social media posts that reuse pre-existing songs or videos, all of those creations have multiple creators that might have some rights or shares of the revenue generated. Automating revenue redistribution so these creators can focus on what they love - creating - that’s our goal at Reveel.




Looking through your social media we can see that there are numerous music web3 creators that like to use this service. Was Reveel built with music industry in mind, or was it a surprise to see its adoption in the space?

Music has always been at the forefront of our minds, as we built the first iteration of Reveel. We started with the intention to address Music NFT royalties, but we’ve seen creators use the protocol in new and amazing ways that we hadn’t expected.

For instance, DFreshmaker, a prominent figure in the Music NFT space, created a Revenue Path on Reveel and then asked us for a QR code that would send funds to that Revenue Path. It turns out he used our revenue share protocol to automate a shared tip jar for artists performing at the Rocking Uniquehorns metaverse venue, in Decentraland.

Another amazing use case was when BlackDave, one the the OG Music NFT artists, used Reveel to share revenue from his wavRoom NFT drop with 154 of his early collectors. That led to the largest on-chain revenue splits ever created, with 159 parties getting a share of revenue each time one of his wavRoom NFTs is sold.

Those use cases have allowed us to broaden our scope for how Reveel can help web3 creators and businesses automate revenue sharing. And we’re now talking to various types of projects from big PFPs creators, to writers & designers, or even big brands and traditional media companies.

As a musician, what’s the most exciting part of working on Reveel?


Well my days creating are limited now, but I’m so thankful that I’m able to combine my passions for music & arts, technology, and business, all into one job! The highlights of my days are definitely the interactions I have with creators & with the team. We’re at the forefront of something really big and that’s very motivating.



Could you give any piece of advice or actionable steps for any reader who’d like to create something in the web3 space?


My top 3 pieces of advice would be:

1. Get involved with the web3 community. Find some projects you vibe with and start engaging with people from those communities. Supporting financially or through your actions & time can go a long way, and soon enough your community will also grow.


2. Build in public. The web3 space is young and we’re all building and experimenting. The more open you are about your process, the more you will learn & improve, and the more people will engage and support you.


3. Collaborate. Reach out to other artists, developers, community managers and find people who you want to work with. It’s a fast moving space with a lot of different moving parts - having a team will allow you to go much further and it will signal that you’re serious about the space.


 

Thank you for your time!! We’re excited to see where your project goes and to possibly implement it on our launchpad (once it’s ready!). Best of luck to you guys!


Thank you! We’re excited to collaborate with you too! Let’s get the Music industry to the next level!


 

Learn more about Reveel


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Connect with Adrien

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