How SoundMoney Protocol aims to disrupt the future of music

Soundmoney CEO, Benito Derosario, wants to disrupt the musical streaming model by creating a platform that allows fans to directly support their favorite artists.

On the sidelines of the Paris Blockchain week, Derosario spoke to Crypto.News about the way the current streaming model has failed to compensate for the artists correctly for their music. Indeed, streaming services often deal with record companies and not artists directly.

Derosario himself knows the problems of the music industry too well. Inasmuch as web3 Developer with training in writing songs, he wants to bring more artists who have been left by industry to a platform which, according to him, could revolutionize how fans interact with artists and their music.

“Soundmoney Protocol is therefore a web3 infrastructure, a financial infrastructure for the music industry. We therefore offer artists a way to connect directly with their fans,” he said.

Unlike Spotify, where most income go to labels and artists are delayed or uncertain. Soundmoney uses blockchain Technology to provide transparent and direct compensation. This decentralized model reduces the need for expensive audits because everything is publicly verifiable on the blockchain.

At the time, Soundmoney.Social was still in its pre-launched phase, but Derosario aims to extinguish their main token, Bezy, by April 28 and that he is available for the public. According to the tokenomicsBezy will have a maximum token offer of 27 billion tokens and will initially be available to negotiate on Ethereum and Rezo.

“It should be easy, which is the name of our token. It’s called Bezy, because it should be easy,” he said.

“We associate ourselves with Saga.xyz. It is a Blockchain Layer1 company that allows us to have fundamentally our own blockchain. So we have our own blockchain with saga and they integrate the liquidity integration layer with Uniswap,” continued Derosario.

The platform itself, Soundmoney.social, will be built using what Derosario calls a “Web 2.5” approach which fills the gap between a traditional user-friendly interface and decentralized technology. It offers artists the opportunity to engage directly with fans by creating their own “platform in the platform”.

According to the co-founder, artists will be able to download music, manage metadata and launch their own fans tokens to reward superfans by ticket office, exclusive content and synchronization license. By focusing on poorly served musicians and transparency, Soundmoney.social aims to create a fairer and more participative musical economy.

“We have the impression that art and artists have been swept away in favor of digital technology, and we are trying to bring this real connection,” said Derosario.