KOR Protocol, a Web3 infrastructure for creators featuring a range of AI-powered tools and interactive applications, has added artists Disclosure, Dixon and Imogen Heap join Deadmau5 and Richie Hawtin as advisers.
The KOR Protocol, whose initial developer is owned by Web3 gaming firm Animoca Brands, aims to improve how how intellectual property from music to other interactive art is managed, distributed, and monetized within artist communities.
British recording artist and Grammy award-winner Imogen Heap, electronic music icons deadmau5,
Richie Hawtin, and Disclosure, and masters of multimedia experiences Dixon, whose Transmoderna art collective is known for its immersive live-shows, will help oversee the direction of the protocol and advise on supporting artists, musicians, filmmakers, and developers in protecting their creations and engaging directly with their audiences.
Global recorded music revenues rose 10.2% in 2023 to $28.6 billion led by online streaming services, marking the ninth year of consecutive growth for the music industry. Yet despite the undeniable profits
made by global megastars like Taylor Swift or Ed Sheeran, the majority of artists struggle to make a
living from their music alone.
According to a survey by Xposure Music, just 11% of independent artists earn income solely through their music. A major issue is the low payout rates, which can be as little as $0.004 to $0.008 per stream. Additionally, streaming platforms like Spotify and Apple Music keep a significant portion of the revenue, with record labels also taking hefty cuts, leaving artists with a small portion of the pie.
KOR Protocol addresses this imbalance, changing how intellectual property is managed, distributed, and monetized, enabling artists and creators to receive fair pay for their work and engage directly with their fans and communities. Offering a unique infrastructure for creators with a range of AI-powered tools and applications, artists can easily create interactive experiences and release into new products that resonate with global fan communities. Adding such highly regarded world-renowned artists as advisors underscores KOR Protocol’s commitment to empowering creators with next-generation technology—and the best possible direction from leaders in their respective fields.
Heap is passionate about creating a decentralized database where songs act as services, giving direct access to all their details. Through her various initiatives, including Creative Passport and Auracles and collaborations with platforms such as KOR, she aims to open new opportunities and revenue streams for music makers, driving innovation in the industry. Electronic music icons deadmau5 and Richie Hawtin, known for their forward-thinking approaches to music and tech, have also previously explored the intersection of music, digital IP, and blockchain, cementing their advisory roles to help drive innovative content creation and fan engagement strategies.
Disclosure’s connection to remix culture will further help develop KOR’s vision of an ecosystem where artists can co-create and remix content without traditional limitations, reinforcing the platform’s mission to make the creation and management of music IP transparent, collaborative, and fair, and Dixon and his collective Transmoderna will be a leading guide on pushing the boundaries of immersive multimedia experiences, exploring the possibilities that arise from merging electronic music with transmedia art.
Inder Phull, creator of KOR Protocol, said in a statement, “This visionary team of artists are not only leaders in their fields but are passionate about creating new immersive experiences and fair compensation for artists. Under their expert guidance, KOR Protocol can provide the next generation of entertainment ecosystems for creators and fans alike.”
In addition to these artists, Ben Turner, co-founder of the International Music Summit and Association for Electronic Music, and Dean Wilson, CEO of Seven20 and manager of Deadmau5, will join the protocol as partners and advisors. Their extensive experience in the music and entertainment industries will help guide KOR Protocol’s development as a comprehensive platform for managing, distributing, and monetizing intellectual property.
Pixelynx, the first developer behind KOR Protocol was acquired by Animoca Brands, leaders in the Web3 and entertainment space. From IP registration, licensing, and royalty tracking to decentralized interactive content creation, KOR Protocol enables artists, developers, and fans to collaborate seamlessly shifting the paradigm of traditional IP management.
Source link
