0x7a55
January 10th, 2022

Gm. We’ve onboarded 20 brilliant artists to Sound as genesis artists over the past month.

So far after 20 sellout drops, Sound has generated $200,000 as a community for 20 independent artists, equivalent to 60 million streams.

We launched with a simple hypothesis: that there is an unmet demand for listeners to support the artists they love. Our initial drops have demonstrated that our vision is possible: all twenty drops sold out in under one minute.

This is early validation of one of our foundational beliefs: artists should be able to make a full-time living off their music alone. Tees, tours, and fan clubs can offer incremental revenue for artists, but shouldn’t come at the expense of valuing music. The music itself is what’s valuable. Music NFTs are the first opportunity to value a song beyond the current system.

The Epics of Gigamesh
The Epics of Gigamesh
0x2F8f
January 3rd, 2022

Sound recently launched with its first round of artists. The reception has wildly exceeded our expectations and we couldn't be more happy with the outpouring of support for artists exploring web3 music.

Now that we've introduced the protocol to the world, we want to provide insights into how it’s designed and the thought process behind those decisions. This post will be an aerial-perspective, lightly technical, and mainly focused on the smart contract design. Future posts will drill down into more intricate application details that developers might be interested in.

We started with two main objectives:

  1. Create tools that put artists in control
  2. Make music patronage more fun
0x7a55
December 18th, 2021

NFTs enable users to own digital objects for the first time through a set of blockchain standards that are interoperable, re-mixable, and secure. Music NFTs showcase the disruptive power that ownership can bring to the relationship between artists and their fans, enabling artists to break free from the broken economic model of music streaming platforms, which fix the price of music and prohibit the vast majority of artists from making a living.

We launched with a simple hypothesis: that there is an unmet demand for listeners to support the artists they love. Our initial drops have demonstrated that our vision is possible: all seven drops sold out in under one minute. This is early validation of one of our foundational beliefs: digital ownership, via NFTs, allows artists to make a living off their music with 100 true fans, not millions of listeners.

To put this into perspective: Sound generated 21 million streams’ worth of revenue for seven independent artists, in under seven minutes. The economic model for streaming isn’t just broken, it is failing to unlock the full value of music and facilitate listeners’ desire to directly support artists and discover music as a community. Artists and their communities should determine the value of music, not platforms and labels.

Following the success of our initial drops, we’re more excited than ever to work towards our vision of a future where a million artists can make a living from their art. To turn our vision into reality, we’ve raised a $5M Seed round led by a16z with participation from Variant Fund, Palm Tree Crew, Weekend Fund (Ryan Hoover), Atelier Ventures (Li Jin), Scalar Capital (Linda Xie), Packy McCormick, Flamingo, The LAO and angels including Trevor Mcfedries, Cooper Turley, Jacob Horne, Jing Wang, Sina Habibian, Breck Stodghill, Steve Klebanoff, John Palmer, Marc Weinstein, Holly Herndon & Mat Dryhurst, Jess Sloss, 21 Savage, DJ Drama, Tunde Balogun (LVRN), Stevo Dingle, Trevor Patterson, Conor Ambrose, Jesse Coren, and Charlie Christie. We are grateful to have their support on our journey.

0x7a55
December 18th, 2021

The technology for consuming music has never been better. Streaming platforms offer a nearly limitless catalog of music for a low, fixed monthly price, an incredible deal for music lovers.

But the economics of how we value music are broken, with only 0.1% of artists making a living wage off their music.

There are two major problems in music today:

  1. Many songs go entirely unheard with 90% of streams going to the top 1% of artists
  2. Every time a song is heard, the creator realizes very little value from their work
0x7a55
December 14th, 2021

NFTs enable users to own digital objects for the first time through a set of blockchain standards that are interoperable, re-mixable, and secure. Music NFTs showcase the disruptive power that ownership can bring to the relationship between artists and their fans, enabling artists to break free from the broken economic model of music streaming platforms, which fix the price of music and prohibit the vast majority of artists from making a living.

We launched with a simple hypothesis: that there is an unmet demand for listeners to support the artists they love. Our initial drops have demonstrated that our vision is possible: all seven drops sold out in under one minute. This is early validation of one of our foundational beliefs: digital ownership, via NFTs, allows artists to make a living off their music with 100 true fans, not millions of listeners.

To put this into perspective: Sound generated 21 million streams’ worth of revenue for seven independent artists, in under seven minutes. The economic model for streaming isn’t just broken, it is failing to unlock the full value of music and facilitate listeners’ desire to directly support artists and discover music as a community. Artists and their communities should determine the value of music, not platforms and labels.

Following the success of our initial drops, we’re more excited than ever to work towards our vision of a future where a million artists can make a living from their art. To turn our vision into reality, we’ve raised a $5M Seed round led by a16z with participation from Variant Fund, Palm Tree Crew, Weekend Fund (Ryan Hoover), Atelier Ventures (Li Jin), Scalar Capital (Linda Xie), Packy McCormick, Flamingo, The LAO and angels including Trevor Mcfedries, Cooper Turley, Jacob Horne, Jing Wang, Sina Habibian, Breck Stodghill, Steve Klebanoff, John Palmer, Marc Weinstein, Holly Herndon & Mat Dryhurst, Jess Sloss, 21 Savage, DJ Drama, Tunde Balogun (LVRN), Stevo Dingle, Trevor Patterson, Conor Ambrose, Jesse Coren, and Charlie Christie. We are grateful to have their support on our journey.

0x7a55
November 28th, 2021

The technology for consuming music has never been better. Streaming platforms offer a nearly limitless catalog of music for a low, fixed monthly price, an incredible deal for music lovers.

But the economics of how we value music are broken, with only 0.1% of artists making a living wage off their music.

There are two major problems in music today:

  1. Many songs go entirely unheard with 90% of streams going to the top 1% of artists
  2. Every time a song is heard, the creator realizes very little value from their work