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Unlocking new models of fan engagement, monetization and music distribution |
With applications built on OWN, artists and their representatives (managers, labels or distributors) can finally have a turnkey solution to distribute their work under their customized terms, and manage royalty collection using web3 workflows which will be settled and enforced automatically. This can all be done permissionlessly by minting their work as an RA (Royalty Asset) smart contract.
The features supported by the Original Works Protocol:
- On-chain Copyright Management
- On-chain Rights Licensing
- Royalty Tokenization
- On chain Royalty Payments
- On chain Revenue Splits
- On chain asset governance
The immediate use cases these features unlock that are being used by our eco-system partners today:
- Royalty advances
- Decentralized labels
- IP/creative financing initiatives
- IP investing and trading
- Fan Engagement and Community Rewards
- Direct to Fan Streaming
- Generative AI copywriting
- Collaborative and derivative work monetization
Some other applications that we envision being built on the OWN protocol:
- NFT Licenses - Transferrable licenses for tokenized media assets allowing artists to monetize their IP across the creator economy and leverage their catalog through stem, sync licensing and distribution of derivative works
- Label DAOs - Labels or artist collectives to pool royalty inflows together, allowing fair and transparent savings/lending activity and even simpler models like algorithmic advance rate adjustment. This closed-circle activity can shield creators from the wild-west of DeFi in its nascent years, but still allow them to leverage their collective strength.
- DeFi tools - More extensive borrowing, lending and staking can be built based on on-chain financial performance of tokenized music assets; Media assets that carry a semi-predictable income rate can be leveraged similar to yield bearing asset.
- Community building - Unique Artist/Label/Community tokens can be used to reward and engage with fans - granting access to content, physical goods and events; OWN allows creators to monitor realtime activity of their fanbase on-chain and insightfully manage scarcity and token design in relation to the actual content consumption
- Decentralized Music Streaming apps - Exclusive content streamed on permissioned services based on token-gated access to their community.
- Artist and collaborator credits - Verifiable credentials for creators can be stored on-chain. Protecting creator's rights, providing immutable records, and help solidify the trust-worthiness of music IP backed digital assets.
- Artist funding - Crowdfunding new releases or even Vinyl Pressing and merchandise; binding together owners of an NFT collection on the OWN protocol, rights holders can help finance production and even redistribute earnings to original backers.
- Music used in metaverse applications - Adding revenue from metaverse sync license to an OWN asset is a simple addition of a recipient address. The OWN network rewards Royalty Admins for reporting usage and revenue.
- Transferable Reproduction Rights - Artists can incentivize their fans to promote their brand and earn their part by producing merchandise or vinyl or art by granting a IP rights to entrepreneurial fans who can in turn get an exclusive/regional (or any other construct they can imagine) license to reproduce and sell their work. These license are transferable creating an economy that is driven by the fans
- Distributed hosting of musical content - Apart from IPFS storage of the music IP, OWN allows its creators to distribute high quality media files to any distributed storage service or protocol, incentivizing data providers to host and serve content to 3rd party networks.
Ultimately, the OWN protocol is a lean and foundational layer to support the most direct flow possible of funds from consumers to creators, no matter where the revenue is made.
We are the bridge between the legacy music industry and the WEB 3.0 economy, and between creators and builders - we are sure there are countless applications that can be built using the tools we are creating today and we're excited to see what developers and artists build on top of the OWN protocol.