On this episode of the Divi crypto podcast, Nick sits with Gregoire, the chief technology officer at ANote music. ANote is a project that uses blockchain technologies towards music royalties.
What ANote Does As a Company
ANote is a bridge between music and finance. Anote allows people to buy shares of songs to receive royalties like stocks in companies for dividends. The uniqueness of ANote is that it pays out every year, and you are getting income from it, while some other investments do not have a regular payment scheme.
About the App
It shows your portfolio as a trader and has other features that make it a secondary music market. To avoid conflict with regulators in the EU, they needed to work closely with the accreditation committee to be sure of the laws. Based on the regulatory rules, anyone can join the app, but they need to hire a third party to handle cash transactions and ensure the citizenship of participants.
The app also showcases a primary market and an organized catalog (of songs that a producer made together). There is also a feature called a contract for buying or renting shares and a segment to place bets to acquire a catalog.
Rights and Ownership Model
They received files from CMOs that collect fees from people who are paying music offline. Although the system of payment is not perfect, Anote is working on other partnerships from improvement. They use blockchain for tracking.
ANote and the Public Market
The average investment on their platform is about $3,000, and the median is about $1,000. However, people can buy shares for as low as $20. Although Gregoire cannot disclose, they have received some requests from big players, but they had to decline some requests because of the asking price. Now the currency of trade is Fiat because they do not want to add a layer of forex risk, but they are evaluating adding a single coin type to the currency list
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