Melodity is taking the music industry one giant step further toward a decentralized creator economy, building Web3 monetization infrastructure to support the industry in new ways.
The company is a Web3 music industry ecosystem with a circular listen-to-earn (L2E) economy that wants to capture a talent-gamifying experience. Following a successful initial private funding, the company is now valued at $30 million and has initiated its first round of venture financing.
The company is pioneering a premier, proprietary blockchain ecosystem — with streaming, play-to-earn (P2E) and a music-oriented metaverse — fostering opportunities for music artists and professionals, influencers, creators, fans, gamers and music lovers. This new concept goes beyond the now-archaic vision of old distribution platforms and suits today’s artful composition and music production markets.
“The world of Web3 today is becoming a great ocean in which it is often difficult to navigate,” said Rolen Guzman, CEO of Melodity. “Blockchain technology has created great opportunities in many fields, but there are few companies that have ridden the wave of the music industry without offering an adequate and serious project. Our company is founded and represented by a solid and prepared team that not only wants artists to live off their creations but also recognizes the interests of project investors who, in most cases, are true admirers of musical art.”
New business models
The first platform to be launched will be DoDuet, an L2E model and contest platform introducing user-friendly streaming and gamifying music and talent-finding, providing visibility with an easy-access prize pool that rewards artists. The platform will utilize a circular economy that rewards listeners who actively participate in fair contests.
Melodity will put artists, cultural icons, content creators, influencers, celebrities, investors and brands in command, letting them tap into the creative and economic potential of nonfungible tokens (NFTs) by unlocking hidden value and creating new digital assets and virtual experiences.
Music and NFTs
Melodity is also developing a music NFTs marketplace, allowing artists to generate instant income, directly controlled and with no intermediaries. The platform will redeﬁne and enhance the value of music, including sales, purchases and licensing inherent to musical composition and advanced music NFTs management.
Artists will finally know where and how their money is made, solving complications in the multi-ownership of musical works. Additionally, anyone may own a piece of their favorite artist’s music and purchase valuable assets previously available only to industry insiders. This way, fans can support and form deeper connections with their idols by investing in a genuine part of their future.
What comes next?
Third-phase efforts will concentrate on a music-oriented metaverse and integrate traditional physical shows. The goal is to put the audience and music professionals at the center — not just as passive spectators but as active participants. This phase will draw communities by combining decentralized finance, music, NFTs and P2E into one unique package.
Melodity is built with mass adoption in mind for music enthusiasts, fans and creators who do not own crypto. It is already building partnerships with music industry executives and artist communities to find new talent and identify community leaders, influencers and artists.
The Melodity project was born from its founders’ passion and desire to help relieve the challenging financial circumstances of small independent music artists and disrupt the music industry. Melodity enjoys significant success in the countries where it is known. The company’s primary goal is to allow music artists to maximize income and visibility by creating and offering them advanced instruments for managing their art.
“The music world underwent a severe crisis after the advent of digital platforms,” said Guzman. “Transparency has become a buzzword in recent years as an increasing number of musicians have chosen to go indie because of their skepticism toward major record labels. Our mission is to become the benchmark of the music industry by recognizing and rewarding talent. The new frontier of music is now a reality, and it is called Melodity.”
Further press information:
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