The future of music is web3
Updated: Jun 7
The Music Industry has been criticized for years on end. One of the main concerns has been that artists don’t have access to big budgets and resources to live off their music unless they’re signed to a big label. And, when the deal comes, many find themselves living under the shadow of big artists.
It is clear that the model the industry follows is flawed and, during the rise of web3 and collaborative work, the music industry needs to revisit the way it operates and relates to its’ artists.
This is what Record Label DAO (RLD) comes to do.
To understand RLD we have to focus on 4 main questions:
What is IRO?
Initial Release Offering (IRO) means that people will be able to acquire percentages of a song before it’s released. Those who purchase percentages will benefit from the future royalties that song generates from streams & syncs.
"IRO means that investors will have a new way to enjoy passive income, diversify their portfolio and support artists they believe in."
Why a launchpad?
Our launchpad model gives a lot of flexibility for artists & future music investors.
Artists join us on an individual release basis. This means they can reap the benefits of working with a professional team but are not tied to keep working with RLD in the future.
Music investors can pick which releases they’re excited about & invest in them. Allowing them to diversify their music investment portfolio without being in a long term partnership with any artist in particular.
Where do the launchpad funds go?
RLD will manage the funds of each launchpad release. Our aim is to bring the best possible ROI to both artists & music investors. This is why we’ll have a professional promotional campaign designed & executed to maximize the success of each release.
All funds raised for a certain release will be used to promoting the song.
How do artists & music investors claim their royalties?
Once the funding process is over, all music investors & the artist will get an NFT that will represent the amount of royalty percentages (%) they own.
To cash out any future profits they just have to connect their wallet (that holds the NFT) to our (future) website & will have the opportunity to withdraw the money.
By having this NFT royalties system the NFT holders can easily sell their percentages on the secondary market whenever they choose to. However, they should be mindful of taking their profits out (through our website) before selling the NFT since they won’t have access to it once it’s sold.
This model also allows artists to easily buy back percentages (%) of their release on the secondary market if they wish to do so.
Record Label DAO hopes to set a new standard in the music industry. But, in true web3 fashion, it wouldn’t be possible without the support of our community.