Tokenly, a Blockchain solutions company specializing in practical business applications of Bitcoin, Blockchain, and tokens, will launch its initial trial of Blockchain-based music service token.FM in early May and open a Series A round of funding.
token.FM is a direct-to-fan platform, the first to leverage Blockchain technology to address existing media challenges and empower an exciting future of media distribution and fan relationships.
Its goal is to allow artists can take control of their pricing, distribution, and revenue splits for streaming and sales, with more than 20 times the earning potential of today’s major streaming platforms. token.FM also seeks to empower innovative ways to collaborate with other artists and brands, to connect with fans directly on the platform, and to own those valuable relationships.
Singer/songwriter Tatiana Moroz is the first artist to utilize the token.FM platform, with her full catalog—including her latest album, Keep the Faith—available as both traditional MP3 downloads and “tokenized” albums.
“token.FM is all about deepening the relationship between artists and fans while restoring the sense of music ownership that has been largely missing from the digital music experience,” says Adam B. Levine, CEO of Tokenly.
“Now, artists can fully control the distribution of their music and see exactly who their most devoted fans are, rewarding them with exclusive perks. Meanwhile, fans enjoy full ownership of the music they purchase and a closer relationship with their favorite artists and fellow music lovers. In the end, it’s all thanks to the power of the Blockchain, which we are thrilled to take beyond the stage of conception and concretely apply to direct-to-fan music sales for the very first time.”