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A startup will launch a blockchain-based investment platform for music fees

June 4, 2020

The start ANote musicbased in Luxembourg, will launch a blockchain-based platform that enables its users to invest in music fees July 28th.

In an announcement on June 4, ANote Music CEO and co-founder Marzio Schena said the platform is aimed at that “Closing the gap between the music industry and capital markets”.

According to reports The platform helps artists, record labels, publishers and composers become financially independent by accessing funds through license sales. After the investment, users receive part of the rights and can exchange them on the platform at prices that depend on supply and demand. Schena explained:

“”Our goal is to unlock the hidden value of music for investors and artists by creating a trading platform for music investments. We are excited to pioneer alternative investments as we revolutionize traditional systems in the music industry. “

A startup will launch a blockchain-based investment platform for music feesA startup will launch a blockchain-based investment platform for music fees

ANote Music CTO Grégoire Mathonet said the company decided to use blockchain technology for the platform guarantee the transparency and traceability of its users. He said:

“”All of these records are stored on a private Ethereum network, backed up regularly to the main Ethereum network, which is the plasma chain mechanism. “

Irma Records will sell royalties for the chain

According to the announcement, Anote Music has reached an agreement with Italian label Irma Records to launch shares worth € 200,000 on the platform. Mathonet said to Cointelegraph:

“C.On Irma Records we offer the first users of ANote Music a mature and solid investment. At the same time, it provides a good yardstick for the kind of music catalogs our audience can expect to find and invest in the ANote Music Platform once we officially launch it.“”

Irma Records was founded in Bologna, Italy in 1988. Mathonet added that the company now has offices in Japan and the United States. He also praised Irma Records’ track record:

“Irma Records has achieved consistent and protected royalties flows with a remarkably stable royalties profile with a standard deviation of just 3.8% over the past five years. Between 2014 and 2019, it generated an average income of more than € 230,000 per year from music fees. “

The eMusic Digital Music Store recently launched its own token to help musicians earn more through their activities.