Tuned Global partners with Revelator to integrate NFTs into music streaming platforms

B2B music streaming technology company Tuned Global has partnered with Revelator, a music digital IP infrastructure provider, to integrate NFTs into music streaming platforms.

Revelator will enable Tuned Global to offer its customers a white-label platform to create, sell, distribute, report and track music NFTs.

Through this collaboration, Tuned Global’s partners, including digital service providers (DSPs), will be able to allow artists to create and distribute music releases as NFTs directly on their Web2 streaming platforms.

Artists will have the opportunity to create new releases, exclusives or derivative content as NFT collections on Polygon, a popular layer-two scaling solution built on the Ethereum blockchain.

This collaboration allows NFTs to coexist with traditional streamed music, giving fans the ability to interact with digital collectibles and access exclusive content through token-gated mechanisms.

In addition, artists will benefit from payment options facilitated by blockchain-based smart contracts.

Revelator’s Web3 infrastructure will play a key role in tokenizing the music NFTs, facilitating the distribution of royalty payments through smart contracts.

These music NFTs will be distinguishable on DSPs with an “NFT” badge, helping fans new to the concept easily identify them.

Founded in Australia in 2010, Tuned Global has operated streaming services for various local markets, including Plern in Thailand, Mjams in the Pacific Islands and Sewasew in Ethiopia. In Japan, Tuned Global provides B2B music services for Line Music.

“The Web3 music ecosystem will exist in parallel with the streaming economy for years to come. To maximize their benefits, creators must engage with both, recognizing their distinct strengths and potential for synergistic collaboration.”

Gilad Woltsovitch, Revelator Labs

Bruno Guez, CEO and founder of Revelator, said: “This partnership allows music lovers to collect NFTs in fan-friendly ways where they already experience music. Fans don’t have to mess with wallets or special Web3 players, or even leave their favorite music platform. They pay by credit card. This access and ease will open up new revenue streams for artists as more fans jump in.”

Gilad Woltsovitch, head of Revelator Labs, highlighted the coexistence of the Web3 music ecosystem with the streaming economy.

“The Web3 music ecosystem will exist in parallel with the streaming economy for years to come. To maximize their benefits, creators must engage with both, recognizing their distinct strengths and potential for synergistic collaboration. We are delighted to have Tuned Global as a partner to help us make this a reality, he said.

“NFTs will provide a whole new avenue for revenue in markets with a strong local scene and culture.”

Con Raso, Tuned Global

Con Raso, Tuned Global’s CEO and founder, emphasized the importance of NFTs in offering additional revenue opportunities in markets with vibrant local music scenes and cultures.

“Many of our customers are building streaming services in markets where big DSPs just don’t work well enough for local artists, their fans or the company. NFTs will provide a whole new avenue for revenue in markets with a strong local scene and culture. Local fans love the artists who are the torchbearers of their culture, and now they can support and reward them in new ways, even if they are not yet familiar with Web3.”

Last year, Raso discussed the possibilities of music in Web3, emphasizing the potential for “extraordinary growth” when executed correctly.

“For music rights holders, Web3 is an opportunity for extraordinary growth, if done right. User-generated content, live events and back catalog opportunities in Web3 are huge. We value our relationships with the labels and publishers, and we are exploring some exciting Web3- opportunities with some of them, Raso told MBW in an interview.

Tuned Global has since made significant investments in Web3 and artificial intelligence, acquiring Swedish music technology company Pacemaker, along with its AI-powered DJ applications, in March.

Last year it branched out into the gaming sector, partnering with Reactional Music to serve as the music backend provider for Reactional Music Box, a global music delivery platform for game development and consumer markets.

Music business worldwide