Press Release - Family in Music MgNTa
FOR IMMEDIATE RELEASE
The company that put Björk on the blockchain is now helping protect songwriter rights
London, 03/02/2022 – Blockpool.io has deployed a highly customised sidechain of its blockchain for a ground-breaking new song identifier system. Developed by music industry platform Family in Music, the system uses Blockpool’s core technology to create Non-Fungible Tokens (NFTs) that uniquely identify a songwriter’s participation in the creation of a song. This is combined with third-party Know Your Customer (KYC) authentication and audio fingerprinting to create a pathway to allow for the tracking of that composition across Digital Service Providers such as Spotify, Apple and YouTube.
Blockpool’s identifier functionality is being used in Family in Music’s new MgNTa project – launching in Spring 2022 – that helps protect the revenue and rights of the next generation of songwriters.
MgNTa offers a simple joining process for those who want to identify themselves in a composition and ensure they and their rights are protected their songsare recognized and rewarded.
“We are delighted to have been chosen as the blockchain solution for Family in Music – and to help address the issues surrounding rights management in the digital streaming age,” says Tim Shank, CTO at Blockpool.io. “The Blockpool chain is specifically suited to creating anonymous identifiers for both people and businesses – and verifying the provenance of their assets.”
“Blockpool gives us the best solution to establishing and supporting anonymous proof of identity,” says Kevin Bacon, Chief Innovation Officer at Family in Music. “It allows for traditional identification methods to be merged and attached to our NFT structure which is secure and controlled. It is then essential that in case of a dispute that we can reference that identity to a point in time – the point of registering a composition’s information and associating it with an off-chain asset.
“Blockpool’s customised technology allows us to do that too. We can say ‘No. This song, in this form, was recorded on the 31st of July 2019, and it was registered at 7.42pm by this person – so somebody else can't make a claim on it. It is that side of the provenance and the immutability of the Blockpool chain that makes it much more difficult for people to game music rights.”
In 2017, Blockpool was asked by Bjork to enable purchases of her album Utopia in four different cryptocurrencies, including Audiocoin (ADC). ADC was also given as a reward for those that bought the album. Blockpool’s chain has advanced considerably since then, allowing the creation of NFTs as unique identifiers of people and Intellectual Property.
“I haven't yet found a blockchain development company, especially in this space, that I would want to partner with more,” says Bacon.
Blockpool is revolutionising the creation and management of Intellectual Property IP in the Arts and in Music industries. Our blockchain solutions provide seamless but unassailable proof of creation and proof of ownership, while providing unique sales and rights management functionality for individuals and businesses. We do more than build privately managed repositories for creative IP. Our solutions are the backbone to the public platforms that sell their creative output to the world. Blockpool business solutions are data agnostic; they exist on a robust but highly flexible proprietary blockchain platform; they are designed to connect to legacy systems, and they work through traditional APIs. We maintain state-of-the-art security and system stability and are ethically and environmentally sustainable – with negative emissions on our chain and in our business. Blockpool has developed foundational digital asset management technology since 2016.
About Family In Music
Family In Music is building a new music creator network that will revolutionize the way songwriters work and get paid. There’s more new music being written and released worldwide today than ever before and it’s growing. This has created a rapidly expanding group of new independent creators who often don’t fit the existing structures of the industry and whose needs are mostly unmet. Family in Music supports all music creatives and industry professionals - but it is Writer First, acknowledging the importance of the song and the songwriter as being the first to create and the last to get paid - if they are lucky. MgNTa is the new industry identifier that supports and empowers the new generation of creators by helping create a pathway to rights, control and revenue.