Blockchain technology with smart contracts is changing the world. Manufacturing of 3d printed components will occur everywhere, and the realization of Blockchain ledger technology, soon to be combined by AI is a perfect storm to create the framework of a whole new economy. This is an economy where the use and revenue of Intellectual property, such as 3d printing recipes, trademarks, patents, music, films, gaming, manuscripts, art & photos etc., will be fully traceable and monetized.
The Zeptagram team envisioned this scenario some years ago and began building a trading platform for intellectual properties on the Blockchain. We started with the trade of intellectual properties in music since the Music Industry is impelled to be on the forefront of this development.
The music Industry is growing, but songwriter revenue is not following this curve. The profit gap describes the growing mismatch between the value of global revenue growth of the music industry and the revenue returned to creators of music. This profit gap could be the biggest threat to future quality and sustainability in the music industry.
We want to decentralize, create transparency, invite new capital and create more value for creators and composers. By opening up a closed market we want to invite new capital into the industry. We also want to invite fans to be a part of the success of their favorite songs.
For the past decade, music composers have lost out with the advent of streaming services such as Spotify, Pirate Bay and YouTube
Publishers trade music rights between themselves, realising no incremental benefit for the composers / songwriters
Terms of deals between publishers are private and do not need to be disclosed publicly
The valuation of music intellectual property (IP) is therefore opaque and not market-driven
It is a closed market that excludes any opportunity for outsiders (i.e. non-publishers) to invest in music IP
Zeptagram Exchange, based on Blockchain technology:
Opens up a hitherto closed market to new investors such as music fans, who can invest in music that they like
Creates incremental IP value for composers / songwriters by creating a market-driven valuation for their work
Creates a new asset class for investors which includes an income stream (royalties)
Music IP has a long life: from the time of composition up to 70 years after the death of the composer
Provides security, transparency and accountability through the Blockchain