Independent label, distributor, and music publisher EMPIRE has struck a partnership with Web3 platform Nebula.
Nebula was founded by Alessandro De Luca, Fuad Hawit and Startup Incubators, and claims to be “a first-of-its-kind platform that lets fans own rights to royalty payouts for any song available in its marketplace”.
With the platform, fans are able to invest in the music available on the Nebula platform and earn royalty payouts.
The royalties are distributed as tokens, which represent a certain percentage of the song. They also get a portion of every transaction, so each time a “token” is resold on the secondary marker, they get a commission from the sale, according to Nebula’s website.
Nebula says that it works with selected A&R managers and individuals as part of its partner program and royalties income can come from all streaming services.
The platform has already featured over a dozen artists including Tupac, Snoop Dogg, and Cruz Rock.
Through the alliance with EMPIRE, the label will feature artist and entrepreneur Money Man by releasing his whole EP through Nebula later this year.
EMPIRE’s venture into the Web3 space comes as the company doubles down on its approach to the digital music era across its label, distribution and publishing units.
In late 2021, the label paid a $1 million advance to Money Man entirely in Bitcoin via Cash App. The payment marked the first advance paid entirely in Bitcoin to an artist, by a record label, at the time, according to EMPIRE.
EMPIRE is focused on early-stage artist development, helping launch the careers of multi-platinum, Grammy Award winning Anderson.Paak, Yung Bleu, Fireboy DML Young Dolph and more, by entering into bespoke deals.
The label says its deals “are always in favor of the artist.”
“Instead of passively consuming music, a fan can now foster a deeper connection with their favorite artist by owning a fraction of their song, with royalties secured on blockchain.”
Fuad Hawit, Nebula
“Without community, an artist is nothing. That’s why we built Nebula. Instead of passively consuming music, a fan can now foster a deeper connection with their favorite artist by owning a fraction of their song, with royalties secured on blockchain,” said Nebula Co-Founder Fuad Hawit.
“It’s a whole new music economy, and it’s the natural next step in digital music.”
“With Nebula, we are changing the way an entire generation interacts with music and artists through transparency and innovation.”
Ghazi Shami, EMPIRE
EMPIRE Founder and CEO Ghazi Shami, says the partnership with Nebula will pave 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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