ANote Music is the latest startup hoping to persuade people to invest in music royalties – by getting artists, labels, publishers and songwriters to put portions of their catalogues up for sale.
It’s launching on 28 July with a sale for Italian label Irma Records, which is selling shares in its catalogue and hoping to raise up to €200k. A pre-order offer opens today offering people a discount if they get in early.
There are a number of companies already offering music investment. ANote says it has built its platform using blockchain technology, and also that it will be using an auction system for its system: investors bid for shares, which they’ll then be able to trade with one another on ANote.
The company will handle the calculation of royalties from the firms invested in. “Our goal is to unlock the hidden value in music for both investors and artists by creating a stock-exchange platform for music investments,” is how CEO Marzio Schena put it.
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