Music Protocol RECORDPrice $ 0.000118

Music Protocol introduces its sovereign layer, the Level 1 blockchain, as a foundational element of its ecosystem. This blockchain is a settlement layer that enables secure and efficient transactions. It is carefully designed for scalability, processing huge transactions per second. By implementing a sovereign model, Music Protocol takes full control of its network, offering customisation and autonomy. Blockchain facilitates the seamless transfer of music rights and royalties, empowering artists and musicians in the digital age.

Music Protocol transforms the royalty cash flows of major label music catalogues into real world digital liquid assets (RWAs) on blockchain. The project opens up a market of over $500 billion, providing a revolutionary network for the music industry to fully digitise catalogues and automate the distribution and settlement of royalties on the blockchain.

The central element here is an open and decentralised protocol. This framework supports the creation of new licensing and application standards, as well as community collaboration in connecting the protocol to real-world applications. The ecosystem promotes flexibility by adapting to future digital IP management landscapes. This opens up opportunities for new business models, licensing structures and IP exploitation methodologies.

$RECORD, a native token, incentivises adoption, rewards participants and manages the economics of the network. Approved by FINMA as a utility token, $RECORD ensures full regulatory compliance.