When David Bowie launched “Bowie Bonds” in 1997, trying to monetize his future royalties and sharing them with the public, he raised an astonishing $55 million dollars doing it. The fact that the people purchasing Bowie’s future royalties were primarily from the financial services industry was slightly revolting. It was an “insider thing”. There is no doubt that not many diehard Bowie fans outside of Wall Street participated in buying his bonds.
Denis Jašarević, aka Gramatik, is obviously picking up where David Bowie left off and taking this concept one step further. Together with Singular DTV, he can do what David Bowie probably always intended — to share his creations with the world in a much more meaningful way than was ever possible before.
Jašarević’s fans understand the ethos behind his music and how it relates to the decentralization movement. If you’re a fan, then you may have heard him speaking passionately in interviews about how he catapulted to international stardom through peer-to-peer file sharing or heard him preach about all the things that are wrong with the music industry, the gatekeepers, and the intermediaries
Gramatik is the first “Crypto-Artist” to launch with Singular DTV. He will be utilizing several Singular TV apps and tools, from generating the GRMTK token with Tokit and administering his token launch with LaunchPad, to putting his content on his own channel with S-DTV’s peer-to-peer distribution portal, EtherVision.
All throughout, he’ll have complete control over his expression and his rights, royalties, and revenue. This initiative can be seen as an attempt to get rid of the currently-corrupt music industry and build an independent and decentralized network, which can be determined by the quality of the artist himself and his connection with the fans. Gramatik said:
“I’ve been waiting for a platform like Singular DTV to come out that utilizes blockchain technology to cut out the gatekeepers and middlemen. I just want to release my own music whenever I want, on my own terms. I want to get rid of all that bureaucracy. I just want to make music. Living in a world that’s owned by banks and corporations, blockchain technology is pretty much the only thing that gives me hope for the future.”
Blockchain in the Music Industry
There are plenty of examples of other blockchain companies trying to revolutionize the music industry. For example, Tatiana Moroz, a singer, and songwriter is the creator of the “Tatiana Coin”. The coin is ushering in a new way of funding artists through a Bitcoin-driven platform which involves fans in a long-term relationship with the artist they choose to support.
Tatiana chose to use the model of the “Artist Coin” which, according to her, offers unique ways for people to become part of the creative process. Tatiana previously stated:
“Artist Coin has unique ways for people to become part of the creative process whereas the fan base grows, the more valuable the tokens become. The program incentivizes stronger relationships with fans where fans gain access to behind the scenes parties, sponsorship opportunities, early releases and more.”
Aventus is another good example of how blockchain tech is impacting the music and entertainment industry. The project is building an open-source standard for the whole ticketing industry that lets event organizers control the entire lifecycle of their tickets in a modular and flexible manner. Their B2B ticketing software infrastructure uses the blockchain and artificial intelligence to solve some of the biggest problems in ticket sale and resale industry, allowing musicians to focus on their art while maximizing their in-event revenue.
Tokenization: Changing the world, one token at a time
Tokenization on a blockchain system has received a lot of attention around the world of digital content lately. Singular DTV is going to launch the Gramatik token (GRMTK) during his tour, which begins on the 13th of October, 2017. GRMTK tokens will represent a share in property ownership of the artist content, and their purpose is to monetize the artist future royalties and sharing them with the token holders, a concept that aims to disrupt the music industry
Examples of the tokenization concept being put to use are becoming more common every day with projects like the LAToken platform and others. Enjin, for example, is a Blockchain-based platform that allows communities, content creators, game servers and game publishers to tokenize in-game assets through a minting process, allowing the tokenized digital goods to be freely exchanged and transferred by their holders.
Dmarket is another example of how the blockchain can pretty much tokenize everything. Also within the gaming industry, Dmarket also allows for in-game items to be tokenized, although it employs a different mechanism than the one used by Enjin, leveraging smart contract technology to create a decentralized exchange where users can buy and sell these items.
In the real-estate industry, Atlant is also leveraging blockchain technology to provide tokenized ownership of real-estate parcels, a process will simplify every type of operation within the real estate market, including property investments and ownership transfers, either partial or complete. Real estate tokens representing a share in property ownership will allow for a liquid real estate market with transparent prices and crowdfunding campaigns.