New Nashville-based Solo Music Is creating the first global music marketplace for artists, fans and industry on the Solana blockchain platform.
Solo Music, the first global music marketplace built on the Solana blockchain for artists, fans and the music industry, is launching the Solo Music Marketplace, a music-focused service aimed at revolutionizing the way artists, their fans, and industry professionals do business with blockchain technology.
The platform’s debuting artist partners include Grammy-nominated country songwriter Eric Paslay, hit songwriter-producer Tommy Cecil, and recording studio Capricorn Studios, each releasing several exclusive NFTs starting in October.
The marketplace will create new pathways for fans to connect with their favourite artists and provide artists with innovative ways to monetize their creations through experiential and digital art NFT sales.
Additional products that simplify digital asset sales through smart-contract ticketing and tokenized royalties for artists and industry professionals will launch on the platform in the coming months.
“Solo Music was born out of necessity. Technology has not evolved at the same rapid pace of the music and entertainment industry, resulting in slow ambiguous royalty payouts, illiquid artist assets, overpriced secondary market tickets, forged merchandise and counterfeit concert tickets,” said Barron Solomon, Founder and CEO of Solo Music.
“Solo Music solves this and bridges the technology gap. With a mission of driving blockchain adoption in the music industry, we are making digital asset sales simple and profitable while providing fans with unique experiences at affordable prices.”
Solo NFT Music Marketplace
Starting today, fans and collectors can access the Solo Music Marketplace featuring curated artist pages, upcoming artist NFT releases or drops and charitable giving opportunities.
The Solo Music Marketplace will soon allow fans to purchase unique experiences and digital art designed by their favourite artists and store them on Solo Music’s secure and decentralized network.
Rather than requiring fans to come to the platform with existing crypto wallets, The Solo Music Marketplace allows users to pay for NFTs in U.S. dollars via credit card, making it accessible for fans of all levels of crypto knowledge to support their favourite artists.
To further encourage platform adoption, the platform supports fast and direct transactions with major wallets including Sollet and Phantom.
“With the launch of Solo Music, we are excited to work with artists to help tell their stories through new avenues, while also inviting fans to take part in their favourite artists’ careers in a groundbreaking way through NFTs,” added Solomon. “Digital assets represent one of the best opportunities for growth that the music industry has ever seen, and we want to be at the forefront helping artists and fans exchange value like never before.”
Additionally, as a Solana-built marketplace, the platform benefits from low transaction fees to offer a wide range of price points for users, making the Solo NFT releases more affordable than many NFTs in the market today, with prices as low as $20.
The marketplace will feature a selection of curated NFT drops involving digital art, real-world experiences, one-of-a-kind collectibles, and exclusive opportunities for fans to interact with their favourite artists.
“As a music creator and as a craftsman, I have been excited about the potential of NFTs in offering fans rare and exciting items, while generating income – not just for myself but also for my favourite charities,” said country music singer and songwriter Eric Paslay, who will be launching his own NFTs on the platform.
“Solo Music stood out as it is fully committed to the music space and to making the NFT process uncomplicated for fans. I’m even more excited after sitting down with the Solo Music team to map out a long-term strategy of curated drops that touch on songwriting, performances, artwork, and hand-crafted items.”
Concert Ticketing and Tokenized Royalties
In the coming months, Solo Music will expand to include concert ticketing and tokenized royalties in partnership with the music industry.
The ticketing platform will offer smart-contract technology for concert tickets. The tokenized royalties will enable artists to manage their royalty streams and sell portions of or all of the rights to the cash flow associated with their royalties, while also allowing fans to invest in their favourite artists.
Solo Music, which recently closed its seed round, is led by a team of industry veterans of Nashville’s music scene and blockchain and tech entrepreneurs.
Barron Solomon, blockchain trailblazer and music enthusiast, is the visionary behind Solo Music. Other team members include music industry entrepreneur and developer Kyle Reeves, music marketing executive Tim Gerst, music talent pioneer Nick Hartley and blockchain and tech entrepreneurs Luke Porter and Meghan Andrykowski.
Leveraging their combined industry expertise, entrepreneurial experience and passion for music, the Solo Music team is building a business that drives the adoption of digital assets across the industry through a usable, profitable platform with real-world application.
Solo Music is committed to becoming a decentralized autonomous organization (DAO) with community governance in the near future and giving back to its community through monetization and experiential opportunities.
About Solo Music
Solo Music combines the latest advancements in blockchain technology with music industry innovation to deliver a digital asset marketplace that drives the music economy forward.
It offers artists, agencies, labels and publishing companies solutions to maximize the benefits of using blockchain technology at scale.
Solo Music’s products connect artists with their fans and community through creative and exclusive NFT releases that encompass both digital and physical assets and experiences, offers industry smart contracts and NFTs to expand revenue streams, and provides fans with access to exclusive content from their favourite artists.
Solo Music is committed to becoming a decentralized autonomous organization (DAO) with community governance in the near future and giving back to its community through monetization and experiential opportunities.
