Collective music project uses CryptoPunks IP to share ownership with community members
Steve Aoki and 3LAU are unwavering in their support of web3, wholeheartedly believing it will drive the future of the music industry. Demonstrating these incredible capabilities, the two icons team up to release “Concentrate,” as part of their burgeoning “audio-visual IRL-meets-metaverse supergroup.” Punx ushers the legendary Web3 IP, CryptoPunks, into a new era of sight and sound, with these two visionaries at the helm.
On April 28th, the pair not only releases the audio and art to the masses, but also they’ll use music rights marketplace Royal to democratize ownership in the song. In a display of the platform’s capabilities within the music space–which includes purchasing tokens that represent streaming rights ownership in a song–the team will be giving away 50% of the song’s streaming royalties to 99 people. Each holder will receive 0.5% of the song. Current token holders among CryptoPunks, A0K1VERSE Passport, and 3LAU will be able to enter a drawing to receive one of these 99 coveted tokens.
Steve Aoki, who has already fostered an impressive web3 world, is thrilled to be ushering in the next era of the music industry, using Punx as a case study. “It’s incredible to be at the center of this evolution, not only building community, but giving back to it directly,” says Aoki, “We’re able to feed the ecosystem and merge the fans with the artists in a way that was thought impossible until recently.”
In joining with Royal, Aoki and 3LAU take their endeavor even further, pushing past entertainment to true engagement and integration. As a community that typically offers additional perks like early access to new songs or opportunities to meet or chat online. This collaboration comes at the perfect time, allowing artists a new way to directly monetize their current work and raise funds for future projects. Thanks to the rise of web3, investing in your favorite musician or song is a reality, and it’s important to demonstrate just how far that can take the community.