Tuned Global and Revelator have formed a strategic partnership to power Web 3 initiatives.
Through this partnership, DSPs and other customers working with Tuned Global will have the capability to enable artists to mint and distribute music releases as NFTs directly on their streaming platforms.
The NFTs will coexist with traditional streamed music, while providing artists with blockchain-based payment opportunities through smart contracts.
Revelator, a digital IP infrastructure provider for music, will enable Tuned Global to offer their clients a white-label platform to mint, sell, distribute, report and track music NFTs.
Tuned Global, a B2B provider of music streaming services, will leverage Revelator's tech to power the creation and distribution of music NFTs on music streaming services. Services powered by Tuned Global’s white-label music apps or APIs can let fans explore, discover and collect digital offerings within a music app.
Artists can mint new releases, exclusives or derivative content as NFT collections on blockchain platform Polygon.
Artists will have the freedom to share their music NFTs with other Web3 streaming platforms and sell them on various NFT marketplaces.
Clients can now opt in to participate in Tuned Global's latest offering and unlock new revenue streams for independent artists in their respective regions. Using Revelator's Web3 infrastructure, music releases are tokenised, enabling the distribution of royalty payments through smart contracts.
NFTs will provide a whole new avenue for revenue in markets with a strong local scene and culture
The NFTs can give fans access to exclusive behind-the-scenes video footage, presale rights to new recordings, artwork and other digital content.
“This partnership lets music lovers collect NFTs in fan-friendly ways where they are already experiencing music,” said Bruno Guez, CEO and founder of Revelator. “Fans won’t need to mess with wallets or special Web3 players, or even leave their favourite music platform. They’ll pay with a credit card. This access and ease will open up new revenue streams for artists, as more fans jump in.”
“The Web3 music ecosystem will exist in parallel to the streaming economy for years to come,” said Gilad Woltsovitch, head of Revelator Labs. “To maximise their benefits, creators will need to engage in both, recognising their distinct strengths and potential for synergistic collaboration. We are delighted to have Tuned Global as a partner to help us make this a reality.”
“Many of our clients are building streaming services in markets where large-scale DSPs just don’t work well enough for local artists, their fans, or the company,” said Con Raso, Tuned Global’s managing director and founder. “NFTs will provide a whole new avenue for revenue in markets with a strong local scene and culture. Local fans adore the artists who are torchbearers for their culture, and now they can support and reward them in new ways, even if they are not yet familiar with Web3.”