Blockchain and Hip-Hop: A-Rayz becomes the first tokenized Hip-Hop producer with ARAYZ token on SingularDTV platform
Here is a snippet of his campaign: "My name is A-Rayz, I have been a hobbyist Hip-Hop producer for over 7 years, garnering over 1,000,000 accumulated plays on YouTube, producing for albums charting Billboard and Itunes Top 10, and having productions featured in XXL, Complex Magazine, HipHopDX, 2DopeBoyz, Earmilk and more. I have also performed live, opening for various artists such as: Mac Miller, Aloe Blacc, and DJ Premier across the United States. It is my firm belief that decentralization and blockchain based technologies (although in early stages), have the ability to disrupt the music industry in the following key areas: licensing, compensation, financing, attribution, and transparency. #NewRules Becoming the First Tokenized American Hip-Hop Producer: By becoming the first tokenized American Hip-Hop producer, I want to be a proof of concept / guinea pig for a potential use case (described in “The Vision”) of this technology. I aim to pioneer this technology in Hip-Hop and broader music industry. I want to empower artists to take innovative approaches to foster deeper relationships with their audience, unlock new revenue/financing opportunities, and take ownership/control of their careers. The Vision: I believe tokenization - a process of converting intellectual property (IP), such as rights to a song, into digital token — will unlock new financing opportunities for resource constrained musicians without having to sacrifice creative control or rights. In this model, artists raise money by selling programmable tokens to fans. These tokens are backed by the success of the IP — thus if the song does really well, the fans get a proportional cut of net revenue generated through their tokens. This takes out intermediaries, enables an artist to maintain creative control, and fosters a new, synergistic relationship between artists and fans (where incentives are aligned). ARAYZ token: I have created ARAYZ token as an experiment to test this new technology and fund my latest single (first one in 5+ years). Embedded in the ARAYZ token are the rights, royalties, and future revenues for this single. By launching the single on EtherVision (a platform created by SingularDTV), I will be able to gather all payments associated with the single and leverage Ethereum smart contracts to automatically distribute rewards and revenue to token holders. In this way, I can share success with fans and people who supported in the creation of the song."
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