RadionFM has minted its first MP3 on the Tezos blockchain with exclusive rights and music licensing. Radion’s platform aims to embed a unique public address key in every MP3 file that it is uploaded into their system, in order to allow downloads / purchases without third party intervention.
With the rise of internet stars on Youtube and other platforms, we have seen that talent can find a wide audience without the need of a promoter.
But once they find fame, they still depend on the music industry to sell their music. Youtube and other platforms can be a great source of income that pays per view or subscribers, but people still want to buy music, buy the MP3 to be able to listen off-line and on different devices.
As a musician, you want to be able to actually sell your songs independently, without a third party taking a part of your profits. RadionFM aims to cut out the middle man in the music industry:
“Now talented musicians from all over the world will be able to upload their music and receive payment directly to their crypto wallets for every single download they have. A pure peer to peer experience thanks to blockchain technology.”
RadionFM started out developing on Ethereum, but the developers of Radion.fm felt limited in their options in regards to MP3 NFTs on Ethereum. Looking into Tezos, they found out that it was much easier to add certain features on Tezos.
You can listen to music streams and podcasts on RadionFM without the need for an account. If you want to offer, and buy MP3’s, you do need an account. Creating an account on RadionFM is free.
With an account, musicians can mint NFT’s from MP3’s on the Tezos blockchain and offer their MP3’s on RadionFM. On the other end, users can download MP3’s and pay with instant payment for each downloaded song. Transactions are confirmed on the Tezos blockchain.
RadionFM embeds a unique public address key in every MP3 file that it is uploaded in our system, in order to allow downloads / purchases without third party intervention. Musicians receive payment directly to their public wallets, every time someone downloads their songs.
This new method can be used with current MP3 files as well as the new generation of digital assets represented by a non-fungible token (NFT). NFT’s are basically tokenized digital files. This can be art, items in digital games, written documents, video, or music.
RadionFM can implement several different copyright models in the NFT. But the “Creative Commons Music License” is set as default.
This means that all music on RadionFM is licensed under a Creative Commons Attribution 4.0 International License, unless noted otherwise.
The reason for this type of default license, is the fact that this type of licence is meant for those who don’t have a record label or manager who represent them. Anyone can use this license and publish music on RadionFM.
Publishing your music on RadionFM does not limit you to the platform. It ensures you publish your music in a copyrighted format and from there, opens the road to any other platform.
The MP3 files created at RadionFM are compatible with iTunes, Spotify, YouTube Music, Soundcloud, Napster, and the likes.
RadionFM is still in development but an important milestone has been reached: the first MP3 with exclusive rights and music licensing has been minted as NFT on Tezos.
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