A New Tool for Changing the Way Creators Remix Music

An innovative tool is revolutionizing the way music artists and creators mix their favorite songs to adapt to our increasingly virtualized lifestyle.

A decentralized intellectual property (IP) platform was launched on September 26 for creators and developers worldwide. The platform aims to help creators protect their works and monetize them.

With the support of multiple major web3 participants, the platform utilizes blockchain technology to provide a scalable and transparent IP management system.

Starting this week, developers around the world will have access to the platform's Software Development Kit (SDK) to install and use the protocol. The era of recording mixtapes from the radio onto tapes is long gone.

With this platform, friends and creators can collaborate to turn music into game soundtracks, fan-made remixes, etc., without violating copyright rules. This is a sophisticated tool that can mix licensed music and other content into virtual environments.

The company behind the platform reported that over 600,000 users participated in related projects, including its AI music platform and an experience project for Netflix. The latter sold out in less than three hours, resulting in the minting of approximately 285,000 NFTs and generating $1.5 million in revenue.

Inder Phull, a veteran in the entertainment industry and CEO, leads the company and its various activities alongside two renowned electronic musicians.

To gain a deeper understanding of how the protocol drives this development, we spoke with Phull to discuss how it works, its potential impact on digital copyright, and his views on the future of the entertainment industry.

"We are building an entertainment ecosystem that allows IP holders to bring their IP on-chain and grow together with the community through different applications," Phull explained, "We place great emphasis on the creator experience, and we believe this can enable fans and creators to co-create with their favorite IPs."

When it comes to the metaverse, Phull believes it relates to immersion and ownership. "If I had to summarize, I would say it relates to immersion and ownership," he said.

Phull's blockchain journey began about 10 years ago when he read a research paper on how copyright and music rights are managed on the blockchain. About 5 years ago, when Fortnite launched the Travis Scott experience, he started to connect these dots.

The company has collaborated with several well-known artists to launch NFT projects, including putting approximately 100,000 songs on the blockchain and selling them as part of the release of new singles.

When it comes to the music industry, Phull believes that NFTs provide artists with a new way to directly release content to fans and allocate value creatively. He does not think that NFTs will replace streaming, but they can complement it.

The company is also involved in a Black Mirror themed project, creating a parallel universe called Smile Club. Users must smile every day to enter the allowed list, and those with a Smile Pass can participate in tasks and challenges. The community drives the development of the storyline.

"The KOR protocol is an on-chain IP infrastructure for the complete lifecycle management of IP," Phull explained, "creators can register their IP, set rules and permissions, and facilitate collaboration; this is a transparent permission management system."

The ecosystem currently has over 600,000 users and has minted over 285,000 NFTs. Copyright fees are paid in cryptocurrency through smart contracts, but can be exchanged for fiat currency. Licenses are based on traditional licensing contracts and are legally recognized.

For creators who are new to web3, Phull suggests: "Find your community, Web3 is built on community, and communities are often welcoming spaces. Participate, try out products, and collect your first NFT. Once you find your place, the opportunities are endless."