Vezt lets artists choose which portions of their songs to offer for sale to fans, friends, rights-buyers and brands in a monetization process called an Initial Song Offering™ (ISO). On the back-end, Vezt provides tracking and royalty collection on all ownership interests through its blockchain-based smart contract technology. Earnings are received quickly and transparently.
Here’s how an ISO works:
- Artists select a song and choose the ISO date, how much of their rights to raise (ex. $10,000 for 10% of their songwriter rights), and the reversion term (3 years, 5 years, 10 year, or in perpetuity).
- Rights-buyers on the Vezt platform (including fans, music professionals and brands), buy the rights during the ISO. The artist receives the funds immediately.
- The song rights information is encoded on the Vezt blockchain and royalties are collected from both Performing Rights Organizations (“PROs”) in 137 countries around the world and STEM.is, a service which aggregates digital performance royalties from streaming services such as Spotify, iTunes, YouTube, Pandora, etc. Vezt registers the rights with PROs and digital platforms, and pays them through to artists and rights-buyers.
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