Digital Music Securities to Use Intertrust Web 3.0 Technology to Revolutionize the Music Rights Market
Intertrust, the world’s leading trusted distributed computing and rights management provider, today announced its collaboration with Music Securities, a leading independent financial services company, to create a transparent and more democratic music rights marketplace with worldwide reach, providing the creator economy with new sources of revenue.
Leveraging Intertrust Platform’s Token Rights Management™ (TRM) Web 3.0 and its unique creator-to-consumer digital rights management technologies, Music Securities will launch Digital Music Securities (DMS), an innovative, new music rights security company. Available globally, the DMS token marketplace will make master recording rights transactions transparent, with clear and fair distribution of earnings. Music fans will also have the ability to engage in extended distribution of their favorite artists’ music through online listening parties or other innovative means of digital distribution.
“Artists who own their master recording rights will receive a fair share of the proceeds of their sales, and transfer their rights to tap into significant revenue streams,” said Masami Komatsu, Music Securities’ CEO. “By owning a portion of the rights to the music of their favorite artists, fans can now help support them by evangelizing their music and bringing in new revenue for both the artists and the fans.”
Global creator-driven platforms use Intertrust Platform’s TRM features to create new marketplaces that leverage consumers’ engagement with creators as the entertainment industry enters a new disruptive cycle. With Intertrust TRM, the DMS marketplace enables master recording rights owners to create tokens that can be subdivided, providing individuals and small investors the chance to participate in the master recording rights market that, until now, has largely been out of their reach.
“It’s amazing to be driving the final disruptive step in the total transformation of the music business from spreadsheets, intermediaries and lawyers to a fully digital, transparent content flow that directly connects creators to consumers,” said Albhy Galuten, Intertrust, Senior Fellow and Founder and CEO of Agora Media. “This technology has the potential to put 8 billion people in one small concert hall, and more money directly in creators’ wallets.”
“Music Securities recognizes the revolutionary potential of Intertrust TRM to recreate and expand the content creator economy. We look forward to our partnership helping Japanese musicians reach new markets across the world,” said Yutaka Nagao, Intertrust’s Senior Vice President, Technology Initiatives & Managing Director Intertrust Japan.
The service will launch in the Spring of 2023, but global artists seeking to use the platform should contact DMS sooner to gain early access to the system.
Intertrust provides trusted computing products and services to leading global corporations–from mobile, consumer electronics and IoT manufacturers, to service providers and enterprise software platform companies. These products include the world’s leading digital rights management (DRM) and technologies to enable private data exchanges for various verticals, including energy, entertainment, retail/marketing, automotive, fintech, and IoT. Founded in 1990, Intertrust is headquartered in Silicon Valley with regional offices in London, Tokyo, Mumbai, Bangalore, Beijing, Seoul, and Tallinn. The company has a legacy of invention, and its fundamental contributions in the areas of computer security and digital trust are globally recognised. Intertrust holds hundreds of patents that are key to Internet security, trust, and privacy management components of operating systems, trusted mobile code and networked operating environments, web services, and cloud computing. Additional information is available at intertrust.com, or follow us on Twitter or LinkedIn.
Original link: Web3Wire
Like my work?
Don't forget to support or like, so I know you are with me..