Ujo Music announced in an email that they will have a public launch in early 2017.
The Ethereum-based company is designed to evenly distribute revenue to the song creators, not a third party. The platform strengthens the relationship between the artist and its supporters. Fans can pay for licenses to download songs while also giving them the ability to stream, remix, and sync the songs.
“We are building a service that allows you to manage your artistic identity, your music and licensing on your own terms. We are starting small, with music, onboarding eager, forward-looking artists to empower sustainable creativity,” the company explains.
Ujo Music made news last year with the release of Imogen Heap’s song, “Tiny Human” with their prototype. With just one download fans noticed just how transparent the new system works. Their funds were divided amongst the writers, producers, and musicians.
The Grammy-winning singer/songwriter isn’t stopping with Ujo. Last year, she inked a deal with Downtown Music Publishing focusing on blockchain. Heap also created Mycelia, a music application that gives the artist their intellectual property rights back. She is currently developing an ecosystem that allows musicians to become their own business instead of relying on major music labels.
Ujo Music is just the stepping stone for integrating transparency and the entertainment industry, a business that has been lacking honesty when it comes to deals. This new ecosystem will surely change the industry for the better.