Independent label, distributor and music publisher EMPIRE has partnered with Web3 platform Nebula.
Nebula was founded by Alessandro De Luca and Fuad Hawit,It is the first platform of its kind to allow fans to own the rights to royalty payments for songs available on the market. “
with the platform Fans can invest in music available on the Nebula platform and earn royalty payments.
Royalties are distributed as tokens representing a percentage of the song. According to Nebula’s website, they also receive a portion of every transaction, so whenever a “token” is resold at a secondary marker, they can receive a commission from that sale.
Nebula says it works with hand-picked A&R managers and individuals as part of its partner program, with royalty income coming from all of its streaming services.
The platform already has over 10 artists including Tupac, Snoop Dogg and Cruz Rock.
In partnership with EMPIRE, the label will feature artist and entrepreneur Money Man and will release his entire EP through Nebula later this year.
EMPIRE’s foray into the Web3 space comes as the company doubles down on its approach to the digital music age across its label, distribution and publishing divisions.
Later in 2021, the label paid Moneyman an upfront payment of $1 million, all in Bitcoin via Cash App. According to EMPIRE, the payment was the first advance paid entirely in Bitcoin by a record label to an artist at the time.
EMPIRE is focused on developing early stage artists and has helped launch the careers of Grammy Award winners Anderson .Paak, Jung Blue and Fireboy DML Young Dorf through bespoke deals. I’m here.
The label says the deal “always works in the artist’s favour.”
“Instead of passively consuming music, fans can now develop a deeper connection with their favorite artists by owning parts of their songs with blockchain-guaranteed royalties. .”
Fuad Hawit, Nebula
“Without a community, an artist is nothing. That’s why we built Nebula. By owning a part of , we are now able to develop deeper connections with our favorite artists.”
“This is a whole new music economy and the natural next step for digital music.”
“With Nebula, we are transforming the way an entire generation interacts with music and artists through transparency and innovation.”
Empire, Gazi Shami
Ghazi Shami, Founder and CEO of EMPIRE, said the partnership with Nebula paves the way for new advancements in entertainment and Web3.
“With Nebula, we are changing the way an entire generation interacts with music and artists through transparency and innovation,” said Ghazi.
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