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October 3, 2022
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The Rocki platform has sold the first token with the right to a musical song royalty –

The Rocki platform, which is used for streaming music and uses blockchain and cryptocurrencies, has just auctioned its token providing the owner as much as 50 percent. a share of all royalties generated by the stream being streamed.

Cotton Eyes

Rocki’s Token corresponds to a track entitled “Cotton Eyes”, which was released exclusively on this platform by Maltese producer of progressive house, Guy J.

A copyright token based on the ERC-721 standard was auctioned along with an ERC-1155 token, allowing the winning bidder to stream the song for free. Both tokens were sold via the decentralized Bounce.finance auction protocol for a total of 40 ethers, which is currently around $ 26,000.

Guy J said he had been intrigued by this type of concept from the start.

I have always been interested in new technologies and music services that provide artists with new revenue streams and increase fan engagement – he said while talking to the media.

In turn, Rocki CEO and co-founder Bjorn Niclas described his concept of royalty as a new source of revenue for artists that is intended to drive various forms of fan engagement with musicians.

Regardless of the initial audience size, artists can leverage their existing fanbase by introducing Music NFT – He said.

The Rocki platform is just starting, but it can already boast of interesting data. For example, as many as 30,000 works by many independent artists have already been placed on it. However, the platform still hasn’t launched public access to the full Beta. The founders say the feature will be launched “soon”.

Blockchain in the music market

The dance music industry is increasingly experimenting with non-exchangeable tokens. In order not to look far, it is enough to recall that electronic artist deadmau5 collaborated on two token launches last week.

On December 16, deadmau5 launched collectible tokens hosted on the WAX ​​Blockchain, with packs of 10 NFT at $ 9.99 and packs of 30 tokens selling for $ 28.40. The tokens were released the day after the SuperRare NFT, a sound loop featuring a song by deadmau5, was released.

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