ANote Music, Luxembourg-based European marketplace for investing in music royalties, will officially launch its music investment platform on July 28, 2020. This Blockchain-based investment will allow users to to invest in music royalties, own music rights from content creators, and earn return on investment.
ANote Music made the announcement in a press release published on Thursday, June 4. According to the company, ANote Music investment platform is built using blockchain technology that will provide “secure and transparent platform for artists, record labels, publishers, and songwriters to become financially independent.”
The platform offers music artists immediate access to funding through royalty sales. The investors and music fans can get the share of music rights of their favourite artist through an auction system. These rights can be traded with other on the platform at prices determined by supply and demand.
According to the announcement, ANote Music will be managing all the royalties and ensures that investors receive royalty flows generated by the underlying asset.
Before the launch, ANote Music has lockdown a deal with an Italian record label Irma Records. Irma Records is the first catalogue listed on the platform with €200,000 in shares available during the pre-order period.
Massimo Benini, CEO of Irma Records, commented:
“We are delighted to be part of this new era for the music industry, where ANote Music provides flexibility, liquidity, and security. By being featured on this platform as an artist or creator, there is an opportunity to generate extra visibility and build up a profound reputation within a large network of music fans and investors. We look forward to building on this pre-order offer and continuing our relationship.”
To anticipate this upcoming milestone, early adopters now have the chance to join an exclusive pre-order. During this pre-order auction, investors will receive 5% discount on the catalogue shares. In addition, pre-order users will be exempt from any distribution fee for the first two-years.
ANote Music, founded in January 2018, aims to bridge the gap between the music industry and the capital markets by enabling music-focused artists to sell their music rights as well as offering users a new investment opportunity and the chance to own shares in their favourite artist’s music.
Marzio Schena, CEO and Co-Founder at ANote Music, concluded:
“Our mission is to make this music investment opportunity available to everyone. We are thrilled to have Irma Records, a key player in both the Italian and global music industry, on board and playing such an integral role in the platform launch. Together, we are excited to embark on this journey and be at the forefront of innovation in the music industry.”
As Crypto Economy reported, a New York-based digital music store eMusic also launched its own ERC20-based digital token, eMU, to let users directly support artists.