BlockPlay launches crypto-based record label, signs TikTok pop trio H3RIZON
A new Australian-based record label with integrated blockchain distribution services has officially launched.
Powered by blockchain technology software provider Monegraph, BlockPlay will allow artists to release music and connect with fans via the means of non-fungible tokens (NFTs).
All NFT releases on the label will include a contract to ensure artists retain copyright and commercial rights to their music, with payments being added instantly to their personal crypto-wallet.
To coincide with its launch, BlockPlay has also announced the inaugural signing of Australian pop trio H3RIZON to its label roster.
The group initially rose to prominence across TikTok and have since amassed 1.7 million followers on the platform. They will release their new EP as an NFT on BlockPlay alongside a string of digital crypto-fashion collectibles.
H3RIZON’s managers Phil Anquetil and Kelvon Avon celebrated the new deal with BlockPlay, noting that the group would now become one of the first Australian acts to be completely powered by the blockchain.
“We’re no longer relying on the major labels to take a risk on our amazing artists – we’re allowing savvy fans and followers the opportunity to invest in digital collectibles,” the duo said.
“The merging of music, tech, NFTs and Crypto can be the new model for artists success, and H3RIZON are set to pioneer it.”
BlockPlay founder Wilson Olegasegarem, who successfully sold an NFT of his own music via an interactive AR video filter, said that the label would help artists retain control of the rights to their music while allowing them to reap the rewards of the NFT marketplace.
“BlockPlay is flipping the traditional record contract as you know it on its head. The new frontier of what a label looks like is here, and the model looks very different and promising for the future generation of talent to make an income straight away from digital collectibles,” Olegasegarem said.
“We are a group of artists and innovators in the tech realm and we are looking for innovators alike. We are calling out for artists, creatives, labels, fashion houses, designers, execs – you name it. The possibilities are endless with BlockPlay.”
An NFT is a non-interchangeable unit of data stored on an online blockchain that certifies its authenticity. Photos, videos, audio files and other digital assets can be traded and sold as NFTs.