New partnership provides data-backed revenue streams, autonomy, and fan engagement for music creators in next era of Web 3.0
Data Vault Holdings, Inc., leading the way in tokenomics and metaverse data visualization, valuation and monetization, announced that it has partnered with music company Stemit, a pioneer in the production and management of music stems, to launch an NFT marketplace and exchange. The NFT marketplace and exchange will provide various artists across genres with the digital tools to itemize their music into individual assets of value. The partnership gives artists the opportunity to create NFTs from the assets. The exchange offers fans and music lovers unique digital collectibles of their favorite band or artist, while also creating new revenue streams for artists looking to diversify income sources at the intersection of data, music, and the metaverse.
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Stemit itemizes music compositions, pulling apart a song’s layered, multi-instrumental structure to create multiple assets from a single song. Stemit’s NFT Exchange as powered by Datavault® will tokenize musical data to create digital assets to buy, sell, and trade. By fractionalizing music into its various parts, Datavault® will help artists secure rights to the component parts to their music so that they may maximize the financial benefits of their creations’ various revenue streams.
“We are thrilled to be working with Datavault®, as our partnership with Datavault’s cloud-based, crypto-technology will empower artists and labels through each of these platforms with modern-day, data-backed solutions that benefit both labels and music creators’ bottom lines. We’ve realized that stems are now a predominant focus of labels as they have begun to value their importance as part of a deployable catalog of assets,” notes Stemit founder and CEO Joshua Kaplan. ” Very few labels have a full stem library alongside their masters that allows them to take advantage of revenue opportunities in gaming, karaoke and, of course, sync. There has also been a movement for labels to deliver non-vocal versions of their masters to meet the exploding demand for instrumental playlists.”
The companies will begin utilizing ADIO’s patented data-over-sound technology to inject asset identifiers into audio NFTs, providing a new secure layer of rights protection and asset tracking with enhanced cybersecurity features.
“Datavault® has prioritized cybersecurity first within our patented platform and protecting data content objects and media files for creators is paramount in our execution,” points out Datavault® co-founder and CEO Nathaniel Bradley. “Stemit has mastered the ability to isolate, pair and parse musical content in a way that fosters creativity and maximizes the financial yield derived from music assets. We are excited about the impact that our combined technologies will have in this marketplace.”
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Datavault, through its partnership with Stemit, will enable artists with the tools to create unique digital stories through NFTs and access the vast opportunity within the metaverse. These partnerships illustrate the growing democratization of data assets to the benefit of the artist and labels in the next iteration of the Internet, Web 3.0, where decentralization and user autonomy will take precedence.
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