Unchained Music partners with Avalanche to deploy artist royalty funds in reviewed DeFi agreements

On April 22nd, the Web3 music platform Unchained Music recently announced a partnership with Avalanche to specifically deploy artist royalty funds to Avalanche C-chain in various reviewed DeFi agreements.

Web3 music platform Unchained Music collaborates with Avalanche

Introduction

Web3 music platform Unchained Music has announced a new partnership with Avalanche, which aims to improve the distribution of artist royalty funds in the world of decentralized finance (DeFi). Despite the potential benefits that DeFi could offer artists, many are still wary of using DeFi platforms due to their often-unregulated and unpredictable nature. However, Unchained Music and Avalanche are hoping to change that by launching a series of reviewed DeFi agreements that address those concerns.

Why are artist royalty funds important?

As with any industry, artists in the music industry need to be compensated for their work. Historically, this has been done through record labels, which take a significant cut of an artist’s earnings in exchange for providing them with a variety of services, such as recording, marketing, and distribution.
However, the rise of the internet and digital technology has led to an increase in independent musicians who do not rely on record labels to promote their work. These artists face a unique set of challenges when it comes to getting paid for their work, as they do not have the same resources as larger labels to manage the distribution and collection of royalties.
In recent years, blockchain technology has emerged as a potential solution to this problem, as it enables artists to receive direct payments for their work and easily track their earnings. However, the world of DeFi can still be confusing and intimidating, which is why Unchained Music and Avalanche’s partnership is so significant.

How will the partnership work?

Unchained Music plans to deploy artist royalty funds to the Avalanche C-chain, which is a decentralized network that allows users to create and deploy custom financial applications. In order to address concerns over security and regulation, the funds will be distributed through a series of reviewed DeFi agreements that have been thoroughly vetted and approved by both Unchained Music and Avalanche.
This will provide artists with a simple and straightforward way to receive payments for their work without having to navigate the complex world of DeFi on their own. Additionally, by partnering with Avalanche, Unchained Music is able to tap into the network’s fast transaction speeds and low fees, which will make the process even smoother for both artists and fans.

What are the benefits of DeFi for artists?

Decentralized finance offers a range of benefits for artists, including the ability to receive direct payments for their work and greater control over their earnings. Additionally, by using DeFi platforms, artists can bypass traditional gatekeepers like record labels and streaming services, which often take a significant cut of their earnings.
Furthermore, DeFi platforms are transparent and immutable, meaning that artists can easily track their earnings and ensure that they are receiving accurate and timely payments. This level of transparency is particularly important in the music industry, which has traditionally been plagued by opaque accounting practices and withheld royalties.

Conclusion

Unchained Music’s partnership with Avalanche represents an exciting step forward for the music industry, as it provides artists with a simple and secure way to receive direct payments for their work. By leveraging the power of DeFi and blockchain technology, artists can finally take control of their earnings and receive the compensation they deserve.

FAQs

#Q: What is Unchained Music?

A: Unchained Music is a Web3 music platform that uses blockchain technology to enable independent musicians to receive direct payments for their work.

#Q: How does DeFi benefit artists?

A: DeFi allows artists to bypass traditional gatekeepers like record labels and streaming services and receive direct payments for their work. It also offers greater transparency and control over their earnings.

#Q: What is the Avalanche C-chain?

A: The Avalanche C-chain is a decentralized network that allows users to create and deploy custom financial applications.