Numbers Protocol and ACOY are excited to share the partnership that aims to infuse content provenance and authenticity to the music sector by onboarding music artists and record labels to Numbers Protocol ecosystem.
The music industry has long been plagued by issues related to fair compensation for artists, songwriters, and other creative stakeholders. The rise of digital music streaming services has led to a further decline in revenue for musicians, as they often receive only a fraction of a penny per stream. The growth of NFT allows artists to create new revenue streams for musicians and allow them to maintain greater control over their contents.
However, there are growing concerns related to content authenticity and provenance in the music industry and music NFT projects. With the rise of digital music distribution, it has become easier for individuals to illegally reproduce and distribute copyrighted content without proper attribution or compensation for the original creators. This has led to issues of content piracy and unauthorized use of copyrighted material, which can make it difficult for artists to maintain control over their intellectual property.
Similarly, in the context of music NFTs, there are concerns about the authenticity and provenance of the content being sold. Without proper verification processes in place, it can be difficult to ensure that the NFT being sold is truly an original work by the artist, and that the rights to the content being sold are fully and legitimately owned by the artist. This can create issues related to fraud, misrepresentation, and legal disputes over ownership and intellectual property rights.
Numbers Protocol addresses these challenges by building an open, decentralized, and creator-centric network to tackle digital media provenance and authenticity. Recently, Numbers won the 2023 SXSW competition in the Web3 category, validating their vision for transparent and traceable data in the age of AI.
By working together, ACOY will onboard music artists and record labels to Numbers Protocol's ecosystem, registering their contents through Numbers API and generating asset certificates (assetization) and launching music NFT collections on the Numbers blockchain. Christopher, the founder of ACOY, stated, "Authenticity is the key to building trust in the digital age. The partnership of ACOY and Numbers protocol will empower music artists to take control of their digital assets and protect their fans, setting a new standard for trust and authenticity in the digital media landscape."
To kick-start the collaboration, we are welcoming the first artist - Wilczynski. Wilczynski is a German LoFi Artist & Beatmaker from Baden. His songs can be found on the most popular LoFi playlists on Spotify and he's boasting half a million monthly listeners. He is now entering the NFT space with his first Music NFT project "Gratitude & Growth" - a 6-track journey focused on joyful wellbeing, restfulness and warmth.
Overall, the partnership between Numbers Protocol and ACOY will empower music artists to take control of their digital assets, set new standards for trust and authenticity, and create sustainable revenue streams.
ACOY is a strategy lab by Chris Wieduwilt (chrisdelorean.eth) for artists and music professionals to navigate the new and fast approaching internet age called web3 and kickstart the use of NFTs as an instrument for community-building, generating front-loaded sustainable revenue streams as well as establish a music culture focused on digital collection and fan experiences.
Furthermore, Founder Chris Wieduwilt is also running a Music NFT podcast called “Digital Punks” focused on providing weekly insights into Music NFTs, web3 & AI.