Paris, 20th ofJuly 2021 : Pianity is the first french platform dedicated to musical NFTs (for Non Fongible Token), where musicians and their community can create, sell, buy and collect digital works certified by the blockchain technology. By restoring value to music and creating a direct link between artists and their audiences, Pianity aims to revolutionize the music industry to ensure fairer revenues for artists and exclusive contents for fans and collectors.
Fans and collectors can directly buy certified pieces of their artists without any intermediary
NFTs give back to the artist the control over the value of his work. Fans support their artists by purchasing a reproduction of the music, with a unique certificate of authenticity, which cannot be counterfeited or reproduced, which can be kept, traded or sold. This is a completely different business model from streaming and much more attractive for artists. For example, $100 represents almost 400,000 of streams on Spotify and almost twice on YouTube, a volume quite difficult to reach for many artists. While on the streaming platform, 90% of artists earn less than $1000 per year, with the NFTs, by creating value around music, artists are paid directly by their community.
On Pianity, when an NFT is purchased, the artist retains ownership and rights to his work, fans and collectors buy a copy of the file, which value will increase depending on the number of editions, its rarity, the contents associated and the artist's community. With 20 french and international artists already listed, Pianity has released its final version, while more than 100 artists have signed up for upcoming exclusive NFT releases.
For Kevin Primicerio, co-founder of Pianity, “NFTs are transforming the established economic model according to which, one music has the same value as another. With Pianity, artists, fans and collectors give back to musical creation the value they deem right, providing artists with a new source of income, direct and transparent. Whether it is collecting works of art or crowdfunding, NFTs open up great opportunities for all artists, musicians and labels. Ultimately, by involving all stakeholders, the entire music industry will benefit from the potential of NFT ".
A dashboard for labels to manage artists' NFT releases
With Pianity, the labels and artist managers have access to a real dashboard to publish their NFTs themselves, determine the price and the distribution strategy (level of rarity, price, mode of purchase), but also manage the redistribution of royalties to rights stakeholders.
On the occasion of Pianity’s lunch, NFTs has been presented to the public with holograms. Among them : Skateboard, by Xinobi (Lisbon) a unique NFT edition sold 500€ by auction, Jornada ilusão by EXZ (Berlin / SãoPaulo) and “A Guide to the Birdsong Crowdfunding” by El Búho. The revenues from the first volume of this project, which began in 2015, were donated to SouthAmerican associations for the preservation of the environment. "The whole project was born from this idea of taking the songs of endangered birds and challenging musicians to make it into a piece of music, and thus to try tomarry these worlds of the conservation activism, bird song and electronic music" explains Robin Perkins, alias El Búho. The profits made out of this special series of NFTs will also be donated to environmental associations. “This is an incredible upheaval for artists who don’t get economic benefits out of streaming. We can now deliver authentic content directly to our audience and create value around the essential: our music. What the public spends will nolonger be distributed according to the streaming volume and media coverage ofthe artists, but rather according to the value of a song. "
$ 1 million raised in one week thanks to a promising betaversion
The first version of Pianity was launched in April 2021 to test the platform and different forms of smart contracts with national and international artists. Auction, limited editions of one or more copies, the profits from the transactions are transferred instantly to the artists. They automatically receive 80% of the transaction, then receive 8% when the NFT is sold again. Then, it's his community that will increase the value of each work, depending on the rarity, like a limited edition of a vinyl.
After a 6 weeks acceleration and funding program at the Open Web Foundry, organized by ARWEAVE, Pianity engaged in fundraising. From May 12 to May 19, 2021, Pianity raised $1 million from national and international investors
Pianity is the first French platform for musical NFTs. With Pianity, musician artists and their community can create, sell, buy and collect pieces in limited editions, certified through blockchain technology. By restoring the status of art to music, Pianity provides a new source of incomefor artists, allowing them to be more independent and to live better off theirpassion.