IP Licencing Core Engine

This refers to the suite of technologies encompassing all interactions related to registering musical assets and issuing licences not covered by the sovereign chain. For instance, this module includes all functionalities necessary for identifying and verifying assets and counterparties, including oracles for validating on-chain information and its conversion into on-chain data, the tokenisation of financial rights (RWA), or rights for music distribution/consumption. A few more detailed examples include:

IP Digitisation Process

Tools aimed at creating a seamless process for IP digitisation, such as IP Asset identification, which may require a certain degree of decentralised storage for efficiency and security.

The IP digitisation process entails a range of tools and technologies to transform intellectual property into digital formats. IP asset identification is a crucial component involving identifying, cataloguing, and classifying IP assets within an organisation. Accurate IP asset identification is essential for effective management, protection, and monetisation. Decentralised storage is often used for IP asset identification, offering improved data security, enhanced data availability, scalability, and compliance with regulations. Tools and technologies for IP asset identification often leverage advanced capabilities like natural language processing (NLP), machine learning (ML), or other artificial intelligence (AI) algorithms to enhance accuracy and efficiency. Integrating decentralised storage with IP asset identification tools provides a secure foundation for effective IP management in the digital age, enabling organisations to unlock the full potential of their IP assets and gain a competitive advantage.

Financial Rights Tokenisation

Platforms for tokenising specific financial rights, facilitating the creation of fungible tokens that denote ownership of said rights. This process enables the fluid exchange and investment in music-related financial assets.

More in detail, financial rights tokenisation is the process of creating fungible tokens that represent ownership of music-related financial rights. These tokens are easily traded and invested, increasing liquidity and facilitating investment in music-related financial assets. Financial rights tokenisation enhances liquidity, enables efficient trading, opens investment opportunities, and provides transparency and security. It remodels the music industry by creating new revenue generation and investment avenues.

Licensing Deployment

Solutions for tokenising music licensing agreements and creating corresponding NFTs to represent these licences. It is a very flexible application that can implement every licence related to music IP rights. The potential benefits for the music industry include reduced costs, increased access to content, and enhanced collaboration, transforming the industry by ensuring fairness, accountability, and profitability for all participants. For example:

NFT Licences for Streaming Access

NFT licences for streaming access represent a new application of NFTs in the music industry. They allow musicians to tokenise their tracks or albums, creating unique digital assets that can be bought and sold on music marketplaces. This offers new ways for musicians to monetise their work, connect with fans, and retain control over distribution. For fans, it provides exclusive access to music and a sense of ownership and rarity. Minting platforms and music marketplaces facilitate the creation and distribution of NFT licences. This approach could upgrade the music industry by transforming how music is consumed, distributed, and valued.

Concert and Event NFTs

Concert and event NFTs offer a secure, verifiable, and unique way to access live music events and experiences. By purchasing an NFT, buyers own a digital record of their ticket stored on a blockchain, making it virtually impossible to counterfeit or steal. Unlike traditional paper tickets, NFTs provide enhanced security, convenience, and the potential for additional perks like exclusive content and artist meet-and-greets. Concert and event NFTs have the potential to revolutionise the live music industry by increasing security, improving convenience, generating new revenue streams, and enhancing fan engagement.

Immersive Experience Licences

NFT-based licences for immersive music experiences in virtual environments, such as exclusive performances in the metaverse, enabling artists to explore new formats and fans to engage with music in immersive ways.

In recent years, the gaming industry has vastly outperformed the music industry, marking a significant shift in entertainment dynamics. Yet, music remains a universally cherished form of entertainment. The growth of the metaverse, extending from the gaming sector into education and virtual workspaces, offers a new outlook for the music industry. This combination of gaming and the metaverse provides opportunities for new use cases and business models centred around music IP, signalling a future ripe with potential for cross-industry collaboration and growth.

AI Licensing

In the coming years, Generative AI will significantly transform content production at all levels. It will enhance creativity and streamline numerous crucial but ancillary activities in production, mastering, etc. Overall, global music production is expected to increase notably from existing categories of creators and a new class enabled by these technologies. A substantial part of the AI music industry is focusing on developing generative music tools. However, the creative output from generative music platforms requires digital licensing procedures to facilitate distribution. Currently, licenses for Generative AI music platforms are issued by users agreeing to terms and conditions, a method consistent with current licensing practices but far from fully digital IP management. Music Protocol can easily connect with Generative AI platforms for on-chain track registration and IP and licensing management.