This is a new platform that @depatchedmode and I got early access to, it’s based in Vancouver. It’s very much an exchange – non-custodial wallets, crypto and USD kept on platform. They have a background in music & entertainment.
I thought this was a very interesting new model.
This new model of music fandom and artistic investment allows you to own a share of this song’s streaming royalties for a full calendar year. So the more your song gets played, the more you and PERFXN both stand to make. In addition to a silky smooth tropical soundtrack, you’ll also receive an original animated artwork from Serwah Attafuah and a “Fanvestor Kit” to track and boost your song’s success and help expose this rising talent to the world. Invest in the next generation of beatmakers. Presented by BACARDÍ and Grammy-winning producer, BOI-1DA.
The terms and conditions are on IPFS:
In addition to the license granted herein, Buyer acknowledges that ownership of this NFT shall
entitle Buyer to receive 0.05% of the total royalties (“Buyer Royalty Share”) generated by live audio
streams of the sound recording incorporated in the NFT Content (the “Track”) for as long as Buyer
continues to own the NFT, subject to the following conditions and limitations:
a. The Buyer Royalty Share shall be determined by Stem Disintermedia Inc., a third party music
distribution and royalty administration company (“Stem”);
b. Stem shall administer and distribute the Buyer Royalty Shares to Sturdy Exchange, which will
properly distribute the Buyer Royalty Share to NFT owner for no less than one (1) year from
the date that this NFT was first minted;
c. Stem’s administration of royalties for the track is dependent upon the Track being registered
to Stem’s service;
d. The owner of the Track shall have the right, at the owner’s sole discretion, to remove the
Track from registration with Stem at any time after the one (1) year period beginning from
the date this NFT was minted;
e. If the Track should cease to be registered with Stem, the Buyer Royalty Share will no longer
be generated or distributed; and
f. Upon Buyer’s resale of this NFT, the foregoing royalty distribution rights shall be transferred
to the new owner of the NFT, and Buyer shall no longer be entitled to receive a Buyer
Royalty Share following the resale.