Fuga has partnered with Verifi Media on its blockchain-based music metadata tracking and management service.
The metadata management firm’s technology will be made available to digital distribution clients of Fuga, which is the first client to use the service.
In this initial phase, Fuga clients that opt in to use Verifi’s service will have products, assets and associated metadata registered on a blockchain that keeps a record of changes to proprietary data, as well as to public-facing information published on Verifi’s searchable public data registry.
Verifi is currently developing a second version of the platform. The system will match works and recordings data, cleanse incomplete and incorrect data, and use AI to aid the process of forming a consensus on multi-party data.
Pieter Van Rijn, CEO of of Fuga, said:“We are very excited about this integration, which will provide our clients with dynamic media metadata management solutions. This illustrates our continuous ambition to be the leading digital supply-chain and distribution services company in the industry.”
“Today marks a significant milestone for Verifi Media, and for media metadata management,” said Ken Umezaki, co-founder and CEO of Verifi Media. “This initial launch of our service establishes a concrete music supply chain ‘use case’ for data management services anchored by AI, machine learning and blockchain technologies. Fuga is an early adopter with a stellar team that is never hesitant to push boundaries and invest in what can bring more value and service to its clients. We’re very proud to be their partner in these efforts.”
“Verifi was founded with the core belief that collaborative sharing of dynamic media data leads to better data that can help drive business decisions that maximise results,” added Allen Bargfrede, co-founder and chief strategy officer/chief legal officer. “Our innovative metadata tracking and management tools can help Fuga’s breadth of clients across the entire music sector significantly advance data literacy, streamline operations, save time, and lower costs, which will further attract new clients, as well as benefit DSPs and other stakeholders worldwide.”