The Alternatives: Generalist IP Tokenisation Platforms

In today's digital age, several platforms have embraced the concept of tokenisation and management of IP rights. These platforms are designed to tackle various IP-related issues across multiple industries. While they offer broad capabilities, their one-size-fits-all nature inherently comes with a level of complexity that needs to be fine-tuned for the specific nuances of each sector.

The music industry has a complex value chain, and its intricacies demand a specialised approach that generic tokenisation and IP platforms are often ill-equipped to handle. With its creative, legal, and economic considerations, the music industry requires a customised approach. Tokenising music rights, for example, is not just about assigning a digital token; it involves understanding copyright laws, distribution rights, the different stakeholders—from artists to producers—and each party's varying degrees of rights.

The music industry is structured on deep-rooted practices and relationships between creators, publishers, record labels, and distribution networks. Any platform aiming to serve this industry must navigate the complexities of music royalties, licensing agreements, performance rights, and more. It must also accommodate the diversity of music genres, each with its cultural implications and business models.

In reimagining a digital infrastructure for the music industry, it is essential to recognise the deeply rooted, pre-existing systems central to its operation. The industry's infrastructure—a complex network of rights management, royalty distribution, and legal compliance—demands seamless integration with any blockchain solution managing intellectual property.

Therefore, a blockchain platform for managing music IP must fit seamlessly into the industry's current mechanisms. This integration encompasses synchronisation with traditional digital rights management systems, live performance tracking databases, and existing distribution frameworks. This ensures that the digital ledger complements and improves current operations without disrupting the established flow of commerce and creativity.

Another critical area is the inclusion of the leading players in the design and governance of the blockchain infrastructure. In this sense, involving major labels, publishing houses, artists' associations, and others is a practical move for infrastructure efficiency. As these entities are the primary stakeholders interested in the functionality and success of any system managing their principal asset, their active participation in governance is essential. Their contribution ensures that this framework effectively serves the market's needs.

For a blockchain-based music IP management system to be achievable, it must be compatible with the music industry's complex infrastructure and include the governance participation of the industry's major contributors.