The struggle is real for many smaller and mid-tier artists trying to generate revenue from their music with many resigning to the fact that they will never make any type of income until live gigs come back. Many platforms have been working to help solve this problem, but none quite like the new music streaming platform ROCKI.
ROCKI has just announced its launch and first major success story with progressive house artists Guy J raising over $24k for his release “Cotton Eyes.” ROCKI’s platform is the beginning of something very exciting for artists that have been looking for alternative ways of monetizing and raising money for their music. In a way you might call ROCKI part Kickstarter and part investment opportunity, now fans can support their favorite artists by investing in their work and getting a share of royalties to boot.
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ROCKI, the new music streaming platform on the blockchain just launched their first Royalty income right music NFT, which sold for a record 40 ETH ($24,200 USD at the time of writing)!
ROCKI is a music streaming service and digital payments ecosystem designed to solve some of the most fundamental problems of the music industry. Powered by the ROCKS token, it is the first platform that rewards both the artists for their streams and the listeners for their participation.
ROCKI has launched two unique music NFT's on the ROCKI platform (a ERC721 Music NFT & a ERC1155 Music NFT), with the first Royalty income right Music NFT (a ERC721 Music NFT) selling for a record 40 ETH ($24,200 USD at the time of writing).
The Israeli born, Malta-based progressive house music genius, Lost & Found label boss, and ROCKI artist, Guy J, has just released a new exclusive track on ROCKI, COTTON EYES. This new exclusive track sold an ERC721 Music NFT contract for 50% of future Royalty rights on ROCKI, auctioned off on the Bounce.finance platform for a record amount of 40 ETH ($24,200 USD at the time of writing).
“I’ve always been interested in new music technologies and services that provide artists with new revenue streams and heighten fan engagement. I’m very excited that my fans around the world can be a part of and trade ROCKI’s Music NFTs,” Guy J. says.
Bjorn Niclas, ROCKI CEO & Co-founder is equally excited. “This, the first successful transaction of one of our music NFT's on ROCKI, opens up a new, much-needed revenue stream for artists while simultaneously creating a wealth of new fan engagements and value. We believe that the ability to issue the ERC-1155 Music NFT’s for exclusive listening privileges or the ERC-721 Music NFT’s for Royalty income rights of a track on ROCKI is the next step forward.”
It’s not just for artists with Guy J’s reach, he continues. “Regardless of the initial size of their audience, artists can capitalize on their existing fan base with the introduction of Music NFT’s and our unique hybrid user-centric payment model for online streams, even in uncertain times like these.”
ROCKI, the world's first hybrid user-centric music streaming platform, came out of stealth mode last month. Its unique hybrid subscription model allows artists to earn streaming revenue in both Fiat and Cryptocurrency. The user-centric payment model, which has often been referred to as the fairest payment model for online streaming, has garnered widespread media attention with french streaming giant Deezer leading the way.
Because streaming platforms like Spotify typically distribute 90% of the royalties to substantially less than two percent of the artists, virtually every independent artist receives only pocket change for their work. ROCKI is thus poised to become the preferred streaming service for all genres of independent artists.
“This is the real story behind the creation of ROCKI,” says Niclas. By the end of the private Beta period, the service has already attracted several thousand independent artists and more than 30,000 tracks. The ROCKI platform will soon launch the public Beta access, making it and the sought after music NFT feature open to all independent artists and their fans.
As Forbes reports, the independent music industry is the fastest-growing segment in the business, up 35% from 2017. Yet, as Citigroup reports, only 12% of that money ends up in the artists' pockets. ROCKI is about to upend that. To see how, visit ROCKI.app today.