Introducing RADION FM
RADION FM is a web-based that works on Tezos. It was created to decrease the disparity between corporate music and new music. RADION seeks to establish and popularize a “no custodian” payment structure in the music industry with blockchain technology, allowing artists/musicians to represent, protect, and distribute their musical creation as a digital asset.
How it works!
Users can upload music in MP3 format. During the upload process, the system embeds a unique id to the file, along with its corresponding copyright license, and the crypto wallet address for the creator/owner. This allows the creator/owner to receive a direct payment every time someone downloads their song.
Once the user uploads the song on the platform, the system will allocate this file in a pre-selection page called Discover Music. This page is where other users can listen to 40 second demos of all the songs that have been uploaded that day and vote for what they like.
The song stays in this discovery status for a 24hr period. If the song has more likes than dislikes, the system will place this song in the stream. Keep in mind that RADION doesn’t make the programming selection for the online stream, users do. This means that if the song has enough likes within that 24 hour period of time, then it will go to the online stream where users can listen to the entire song and/or download it.
The revenue of each download goes straight to the user’s wallet who uploaded the song. Although RADION offers the platform for interaction between musicians and music lovers, it does not act as a third party intermediary for financial transactions conducted through this streaming service. In fact, RADION does not collect funds or ask for a commission for these transactions. This is a true peer to peer experience between musicians and music lovers.
RADION also offer non-fungible tokens (NFT) for music, and NFT marketplace will be available soon. This will bring the music industry to the next level where the songs will be represented by tokens that are specifically for the corresponding rights holder of the musical piece. This is how it works: the musician/user creates a song and wants to make it as a non-fungible token (NFT), the system will create the asset in a smart contract, this token will have metadata with key information to prove ownership, copyrights and in some instances International Standard Recording Code to expand our services to sync royalties and mechanical royalties.
You may be wondering how this will benefit the industry? It’s simple because with the advancement of technology you don’t need paperwork to prove who has rights or ownership of a song. A legal contract can take place as NFT. This means that musicians can sell their music with exclusive rights and transfer ownership of the asset (their song) with a non-fungible token. RADION is also working on NFT for no-exclusive contracts, so musicians can sell their music to a TV Show, YouTube video or Movie without giving away their rights.
The song are stored eternally with IPFS protocol. This protocol not only allows for storage, but also gives a unique digital fingerprint id called a cryptographic hash.
For added protection, one of the interesting features that RADION offers is that our app will first check if a song has a new owner prior to streaming it. RADION is committed to our users and we want to ensure that the right person/owner is being paid so this is why we’ve created this feature. If there is a new owner listed, the system will send the revenue to the new owner/rights holder of the asset and not to the previous individual(s) or person who first uploaded it.
We are excited to release our product to the public because we know that it will open a new set of possibilities to music industry while also allowing artists and fans to connect on a deeper and more direct level. There are many more features that are still under development but April 2021 is the month when RADION opens its platform to the public. We hope you enjoy it and look forward to your feedback.
Best
www.radion.fm
