French startup Bolero Music is charting a new course for the music industry, combining artistic creativity with cutting-edge technology to shape the landscape of Web3 music.
Dancing to a New Melody
The innovation at the core of Bolero Music is "Song Shares." This groundbreaking feature enables fans to invest in and hold micro-ownership stakes in an artist's masterpiece. The implications are both simple and profound: supporters now have the opportunity to earn a portion of the royalties generated by a song.
This goes beyond being a mere passive listener; it's about establishing a deeper connection with the music. A prime example of this initiative's success is the platinum track "Brothers" by the charismatic French rapper, Rilès. Bolero's visionary CEO, William Bailey, highlighted the achievement, revealing impressive figures: an astounding 9.2% return on investment over a year, stemming from various sources such as streaming, downloads, and music video views.
Infused with Technological Ingenuity
Bolero's innovation doesn't stop there. They struck a harmonious chord with Agoria, a renowned French techno artist. Unlike Rilès, Agoria created an exclusive anthem for this endeavor, adding a unique dimension to the concept. He dedicated all the royalties from the song to his NFT collectors, seamlessly blending his musical prowess with the digital realm.
The result? Bailey coined it as "the first 100% shared master recording." In a mere six hours, 265 out of the 2,500 shares were claimed, with collectors quickly securing the remaining 80%. While artists typically offer between 5% and 15% of a song's rights, this avant-garde model transcends those limits.
A Promising Horizon
Bailey is placing significant bets on "Song Shares," seeing it as a transformative element for both artists and music enthusiasts. With a lineup of over 30 artists, predominantly from hip-hop and techno genres, already aligning with Bolero's vision, the platform is poised for remarkable growth. While Bolero keeps upcoming announcements under wraps, Bailey alludes to an imminent revelation that's poised to reverberate within and beyond the Web3 music realm.