Revolutionizing Royalties, Empowering Artists, and Leveraging Blockchain Technology
Emanate redefined the music streaming experience by establishing a platform that not only streamlines the process for artists and creators, but also benefits them in real-time for their contributions.
Emanate aimed to redefine the music streaming experience by establishing a platform that not only streamlines the process for artists and creators but also benefits them in real-time for their contributions. Founded in 2017 in Australia by industry experts, Sean Gardner, Trent Shaw, and Jimi Frew. Emanate sought to take advantage of their combined experience of over a decade in the music industry to provide a solution that caters to the intricate needs of artists, labels, and fans worldwide.
- 98% of musicians in the U.S. make below minimum wage for their music.
- Make songs investible for the average fan
- Build on Web 3.0 infrastructure.
- Consult with Rewired.one.
Results and Benefits
- Current value at 25M.
- Raised 625K in investment.
- Avoided the mistakes of others in the Web 3.0 space.
Traditionally, music streaming platforms have been fraught with various challenges. Creators often face delays in payouts, difficulty in splitting royalties, and the lack of transparency in payment transactions. The existing models also rarely offer a comprehensive suite of tools for artists, including features such as digital asset integration, efficient rights management, and instant remuneration. Moreover, most platforms focus solely on the end-user experience, largely neglecting the needs and rights of the creators.
Emanate introduced a revolutionary platform, emanate.live, in 2019 to address these challenges. The solutions provided are nothing short of an overhaul of the traditional ways of operating in the music industry. In partnership with Rewired.one, Emanate built solutions that work. These include:
Instant Payouts: Artists receive payment every 6.25 seconds of streamed music, ensuring real-time compensation.
Flexibility in Royalty Splitting: Artists and labels can self-upload music and specify the percentage of royalties each party should receive. After moderation, these splits are automated.
Transparency and Security: Payments are settled on the EOS blockchain, ensuring transparency and security. Each transaction can be reviewed on block explorers like Bloks.io.
Integration with Other Platforms: Emanate allows distribution to other streaming platforms like Spotify and Apple Music via ONErpm.
Digital Asset Integration: The platform is not just limited to music streaming. It offers monetized playlists, digital asset drops, a digital asset music player, and even digital asset music exchange between artists and fans.
Additional Features: From running remix competitions to integrating with Digital Audio Workstations (DAWs), Emanate offers a plethora of features tailored to cater to the evolving needs of artists and the industry.
Incorporating the EOS blockchain allowed Emanate to process thousands of transactions per second without incurring gas fees. The introduction of MNX as an inner currency, always valued at $0.01, further simplified transactions, ensuring that artists across the globe could instantly receive their royalty splits.
Moreover, to maintain pace with the evolving digital landscape, Emanate made strides towards EVM networks by issuing EMT on Ethereum, aiming to make it a multi-chain platform.
In this transformative process, Emanate collaborated with Rewired.one. This partnership was unique: the development process was jointly managed, with resources from both Emanate and Rewired.one. This co-building strategy, where the responsibility of project management was taken up by Rewired.one, ensured that the platform was robust, user-friendly, and feature-rich.
RESULTS & BENEFITS
Emanate’s innovative approach was quickly recognized and embraced by the music community. The beneficial results of this platform vary and are identifiable. These include:
Financial and Operational Benefits:
- Real-Time Compensation: Artists receive instantaneous payments every 6.25 seconds for their streamed music, resolving the issue of prolonged payment delays commonly faced in the music streaming industry.
- Efficient Royalty Management: The platform allows flexibility in royalty splitting, giving artists and labels the autonomy to specify revenue shares, which are then automatically managed post-moderation.
- Reduced Operational Costs: By leveraging the EOS blockchain, Emanate processes thousands of transactions per second without the burden of gas fees, typically associated with blockchain transactions.
- Currency Standardization: The use of MNX, a consistent-valued inner currency, simplifies and standardizes financial transactions for artists globally.
- Blockchain-Backed Transparency: Payments processed on the EOS blockchain provide unparalleled clarity, with each transaction being traceable on block explorers, fostering trust and confidence among users.
- Cross-Platform Integration: Emanate supports distribution to mainstream streaming platforms such as Spotify and Apple Music, amplifying artists’ reach.
- Real World Asset Innovations: Beyond conventional streaming, Emanate integrates real world asset functionalities, offering monetized playlists, digital asset drops, an exclusive digital asset music player, and facilitating digital asset music exchanges.
- Adaptability to Evolving Technologies: The initiative to issue EMT on Ethereum showcases Emanate’s foresight and adaptability, marking its transition towards a multi-chain platform.
- DAW Integration and Remix Competitions: Offering a blend of creative tools and community engagement features, Emanate continuously enhances the artist experience on its platform.
User Growth and Industry Recognition:
- Exponential User Growth: Emanate’s user base surged to 5,000 within its inaugural year, doubling in the next six months, with forecasts indicating further acceleration in user acquisition.
- Acclaim from Industry Heavyweights: Garnering partnerships with celebrated artists and major record labels, Emanate’s innovation has not gone unnoticed, cementing its credibility within the music industry.
- Strategic Industry Collaborations: The addition of Gavin Parry, an industry stalwart from Sony Music Entertainment APAC, as an advisor, accentuates Emanate’s significance and potential industry impact.
- Co-building Strategy with Rewired.one: The unique collaborative approach with Rewired.one optimized development processes, ensuring a user-centric, robust platform enriched with salient features.
- Empowerment of Artists: Emanate not only revolutionizes the listener’s experience but also prioritizes artists and creators, guaranteeing swift, fair remuneration for their contributions.
- Trust Establishment: Transparent, immutable transactions bolstered by blockchain technology ensure confidence among platform users.
- Setting a New Benchmark: Emanate, through its array of features and strong collaborations, is redefining the standards of music streaming, solidifying its position as an industry trailblazer.
By addressing critical industry challenges and amplifying the artist experience, Emanate has pioneered a transformative shift in music streaming, further amplified by its strategic collaboration with Rewired.one.