UAE Megalodon, a management consultancy firm based out of Dubai, has partnered with UAE present, Blockchain enabled CasperLabs, to launch Dmusic, NFT record shop. In partnership with Haute Living, Dmusic will create more direct and valuable interactions between musicians and fans to simplify the way artists can create and offer NFTs to their supporters in a compliant way through their own channels (e.g. websites).
Dmusic will allow musicians to create and list music NFTs on the Casper Network, as well as integrate wallets and create experiences that enable new revenue models and fan participation. CasperLabs provides support for organizations building on the Casper Network, a future-proof platform for enterprises that adapts to the growing needs of businesses, without compromising on security or performance. CasperLabs and the Casper Network offer Dmusic a trusted blockchain for enterprise-grade requirements and upgradeable infrastructure that powers Dmusic’s innovation.
Limited-edition music NFTs will be the first assets to be offered by Dmusic artists.
Kamal Hotchandani, CEO of Haute Living and Co-founder of Dmusic, stated, “At Dmusic we believe that those who create music and art want innovative, trustworthy ways to share their work with the world. Building on Casper helps us forge stronger connections between artists and fans, and makes novel revenue models possible, including tiered access, direct one-to-one interactions and possibly even revenue sharing. We will help creators embrace blockchain technology so that they can participate fully in the commercialization of their work.”
Dmusic is not only focusing on high-profile artists, but it will also allow independent artists to use NFT technology for fan engagement in a compliant way while fans will be able to experience an easy checkout process when acquiring their NFTs. Dmusic also provides technology for indirect tax compliance on the sale of NFTs and prioritizes the positive environmental aspects of offering digital assets.
Thomas Arnould, manager of various French artists and Co-Founder of Dmusic, added, “As a former manager of several award-winning artists, I believe that technology, such as NFT technology, is important for how artists engage with their fans. We at Dmusic believe that this technology gives power to not only high-profile artists, but also to independent artists, as we allow them to build a deeper connection with their fanbase through NFTs. In my view, the growth of the usage of NFTs in the music industry cannot be ignored and will continue to evolve. At Dmusic, we welcome artists who want to make use of NFTs for fan engagement in a compliant way.”
CasperLabs offers Dmusic a trusted blockchain platform for high-profile musicians who want to “own their own digital record shop” and interact more directly with their fans. Powerhouse innovators in the music world expect the frictionless and simple customer experience that CasperLabs provides to high-end brands and discerning buyers seeking early access to exclusive deals and experiences.
Cliff Sarkin, Chief Operating Officer of CasperLabs, explains, “It is no secret that other music technologies, and streaming in particular, have created more and more distance between artists and their fans, and given musicians less control over their own work. Blockchain is different. At CasperLabs, we believe that creators should have control of their IP. That is why we are working with Dmusic to create a blockchain-powered plug-in to allow musicians to create and offer their work directly to consumers as NFTs, cutting out the middleman and shifting power back to the creator.”
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