Inspiration

Most independent artists struggle and don’t have the resources, network, knowledge or ability to enter the music industry and profit from their music through established major or independent labels. The ones that do, are clouded by limitations and uncertainty about their contract and future at the label, in addition to facing unfair and opaque royalty payouts.

The rise of radio broadcasting in the 1920’s gave rise to a series of intermediaries, such as record labels, publishers and distributors that allowed artists to deliver their music to a broad audience. Almost 100 years later, the music industry is still dominated by a few major players, taking over 70% of the industry’s market share. These “major record labels” have long been vilified. Their processes have been said to lack transparency, their economics are said to resemble those of sweatshops and their royalty statements have been referred to as "works of fiction". What’s most interesting, is that this archaic oligopoly seems to have been bolstered by the digital revolution our society had recently undergone, and this lack of transparency has created friction between the middleman and the artist.

What it does

Allows independent artists to finance their song, album or idea by releasing their own regulated securities token and pay for traditional record label services with this token through a service marketplace, including PR, legal, Mixing and Mastering engineering and others. In exchange, the investor or the service provider can receive an upfront payment or an equity payment in the form of the tokens.

How we built it

Challenges we ran into

Accomplishments that we're proud of

What we learned

What's next for CODA

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