ANote Music, a marketplace for investing in music royalties, today announced that their platform has integrated with Algorand, the proof-of-stake blockchain technology platform.
With the possibility of tokenizing music assets and NFTs from artists, publishers and record labels on Algorand, new music catalogs listed on the ANote Music platform will give tokens to investors, providing the right to receive a split of future royalty streams. This opens opportunities for artists who can benefit from enhanced listings, improved access to rights, and more while bringing to investors an alternative diversified asset.
This is a major milestone for creators that have catalogs with ANote as it marks the first time that tokenized rights and NFTs have access to a marketplace where they can be created and exchanged. Listing music rights on ANote Music gives creators the chance to share success with their network and fanbase while getting immediate access to a new funding model.
Gregoire Mathonet, CTO and Co-founder at ANote Music said: “ANote Music is delighted to integrate Algorand as the core blockchain system for its operations. Algorand provides the resilience, security, speed, and low fees that we were looking for. The ease of traceability of registered claims is certainly another added value for our platform’s users. The different integrations made possible by ‘logic transaction signatures’ are a huge step forward towards using blockchain in real business solutions and we expect this just to be the start of a huge evolution within the music industry.”
ANote Music will also be introducing a specific area where music enthusiasts can acquire collectible NFTs from their favorite artists directly. The NFTs will be launched on Algorand. Investors will receive and manage these NFTs in their Algorand wallet and be able to track everything on Algoexplorer.io.
Being headquartered in Europe’s financial hotspot and being co-financed by the Government of the Grand Duchy of Luxembourg, ANote Music finds itself in a great position to democratize music investments and lead the way with a secure trading platform for NFTs linked to music.
“We are excited to see ANote leverage Algorand’s core layer-1 functionality as they embrace blockchain-based solutions and reinvent its business model to one that is more transparent, accessible, and inclusive,” said W. Sean Ford, COO of Algorand. “Algorand has seen growing traction with NFTs as creators and the organizations that support them come to understand the critical success factors and advanced technology required for a sustainable and enduring future.”
ANote Music is the European marketplace for investing in music royalties and was founded in Luxembourg by Marzio F. Schena, Matteo Cernuschi, and Grégoire Mathonet in January 2018. In January 2020, ANote Music closed a €500,000-plus funding round, led by the European music industry’s foremost players. ANote Music is also supported by Luxinnovation, the Luxembourg national innovation agency, providing access to government funding.