PHOENIX, July 25, 2023 /PRNewswire/ — Web2.5 music aggregator Soundblock (www.soundblock.com) has officially launched the first music distribution service to facilitate content delivery to both traditional web2 platforms like Apple Music, Spotify and Pandora and blockchain based music services like Arena Music, ARENX NFT exchange and other third party NFT marketplaces.
While traditional music subscription services pay independent artists fractions of a penny per each song streamed, Soundblock also manages and reports on secondary revenue streams from on-demand merchandise sales through apparel aggregation services like BrandBoom, NuOrder, and Faire and direct to consumer sales through Shopify, Amazon, Bandcamp, Spotify, live shows and more.
Soundblock makes the management of physical and digital sales transactions, reporting, and multi-party payouts easy by using a real time and transparent blockchain ledger. Anytime an asset uploaded to Soundblock is shared, changed, distributed or used, a blockchain record is created allowing the owners of any specific album or design file to review a decentralized transaction ledger and receive instant payouts in fiat dollars or digital currency.
Soundblock is one of several companies managed by Simple Machine LLC that collectively make up the company’s vision for TheNewMusicIndustry.com- a complete one-stop destination for a hybrid fiat/ coin based music economy where content owners can stream their music on the world’s most popular streaming services and convert their digital music files, videos and images into NFTs that can be sold to fans and investors who then participate in the future revenues earned from music streaming and merchandise sales. The fiat revenues generated from web2 services can be paid in USD or converted to Cherut Coin (XRU), the company’s payment token.
For artists opting to mint their music and images into NFTs, a digital wallet is included with each free Soundblock user account that allows both artists and fans who purchase NFTs on ARENX to trade, sell and convert fiat earnings from music streams and merchandise transactions into physical item purchases and other services.
Combined with ARENX, Arena Music, Arena Apparel and Arena Events, Soundblock works as a utility for managing, storing, securing and distributing digital assets to any web2 or web3 platform while documenting all activity and sales transactions securely on the blockchain forever.
Soundblock (www.soundblock.com) is 21st Century rights management & administration built on web2.5 infrastructure. Our service is designed for musicians wanting access to traditional music platforms (Apple Music, Pandora and Spotify) and those artists interested in embracing web3 and the new revenues that can be generated from converting music and digital assets into NFTs. NFTs make it possible to sell direct ownership in future earnings from music streams and merchandise sales in a decentralized economy, allowing fans and investors to become stakeholders in the music and art they believe in.
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Originally published at https://www.prnewswire.com/news-releases/the-music-industry-is-now-on-the-blockchain-301884155.html
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