The traditional music streaming landscape often leaves artists feeling shortchanged, with complex payout structures favoring intermediaries. A new crypto initiative, SoundMoney Protocol, aims to overhaul this system by leveraging blockchain for direct fan-to-artist support.
Spearheaded by CEO Benito DeRosario, a developer with songwriting roots, SoundMoney seeks to build a financial infrastructure specifically for the music industry. DeRosario highlights the failures of current models where artists, especially those not signed to major labels, struggle with opaque and delayed compensation.
SoundMoney’s approach utilizes blockchain technology to create a transparent and direct payment pipeline. Unlike platforms where revenue flows primarily through labels, this decentralized model ensures artists receive funds more directly, cutting out costly audits as all transactions are publicly verifiable.
The platform, SoundMoney.social, is being developed with a “Web 2.5” philosophy, aiming to blend user-friendly design with the power of decentralized systems. It promises artists their own space within the platform to upload music, control metadata, and even launch unique fan tokens.
These tokens could unlock exclusive content, ticketing opportunities, or sync licensing rights, fostering a closer connection between musicians and their most dedicated supporters. This focus on direct engagement and transparent compensation particularly targets independent or underserved artists, aiming for a more equitable music economy.
Underpinning the ecosystem is the BEZY token, named to reflect the project’s goal of simplicity (“It should be easy”). With a maximum supply capped at 27 billion, BEZY is slated for public availability around April 28, initially trading on Ethereum and REZO networks. SoundMoney is building its dedicated blockchain infrastructure through a partnership with Saga.xyz, a layer-1 company, which also facilitates liquidity integration via Uniswap.
SoundMoney represents a growing trend where Web3 infrastructure is being applied to solve long-standing issues in creative industries. By placing artists and transparent compensation at the forefront, the project envisions a future where technology strengthens, rather than dilutes, the real-world connection between creators and their audiences.