Solo Music, the first global music marketplace built on the Solana blockchain for artists, fans and the industry, is launching the Solo Music Marketplace, a music service aimed at revolutionizing the way artists, fans, and industry professionals do business with blockchain technology.
The platform’s debuting artist partners include Eric Paslay, songwriter-producer Tommy Cecil, and recording studio Capricorn Studios, each releasing several exclusive NFTs starting in October.
The marketplace aims to create new pathways for fans to connect with their favorite artists and provide artists with innovative ways to monetize their creations through experiential and digital art NFT sales. Additional products that simplify digital asset sales through smart-contract ticketing and tokenized royalties for artists and industry professionals will launch on the platform in the coming months.
Solo Music is led by a team of industry members of Nashville’s music scene and blockchain and tech entrepreneurs. Barron Solomon, blockchain trailblazer and music enthusiast, is the visionary behind Solo Music. Other team members include music industry entrepreneur and developer Kyle Reeves, music marketing executive Tim Gerst, music talent pioneer Nick Hartley and blockchain and tech entrepreneurs Luke Porter and Meghan Andrykowski.
“Solo Music was born out of necessity. Technology has not evolved at the same rapid pace of the music and entertainment industry, resulting in slow ambiguous royalty payouts, illiquid artist assets, overpriced secondary market tickets, forged merchandise and counterfeit concert tickets,” says Solomon, founder and CEO of Solo Music. “Solo Music solves this and bridges the technology gap. With a mission of driving blockchain adoption in the music industry, we are making digital asset sales simple and profitable while providing fans with unique experiences at affordable prices.”
Fans and collectors can access the Solo Music Marketplace featuring curated artist pages, upcoming artist NFT releases or drops and charitable giving opportunities. The Marketplace will soon allow fans to purchase unique experiences and digital art designed by their favorite artists and store them on Solo Music’s secure and decentralized network. It will also allow users to pay for NFTs in U.S. dollars via credit card, making it accessible for fans of all levels of crypto knowledge to support their favorite artists. To further encourage platform adoption, the platform supports fast and direct transactions with major wallets including Sollet and Phantom. As a Solana-built marketplace, the platform benefits from low transaction fees to offer a wide range of price points for users, making the Solo NFT releases more affordable than many NFTs in the market today, with prices as low as $20.
“As a music creator and as a craftsman, I have been excited about the potential of NFTs in offering fans rare and exciting items, while generating income—not just for myself but also for my favorite charities,” says Eric Paslay, who will be launching his own NFTs on the platform. “Solo Music stood out as it is fully committed to the music space and to making the NFT process uncomplicated for fans. I’m even more excited after sitting down with the Solo Music team to map out a long-term strategy of curated drops that touch on songwriting, performances, artwork, and hand-crafted items.”
In the coming months, Solo Music will expand to include concert ticketing and tokenized royalties in partnership with the industry. The ticketing platform will offer smart-contract technology for concert tickets, and tokenized royalties will enable artists to manage their royalty streams and sell portions of or all of the rights to the cash flow associated with their royalties, while also allowing fans to invest in their favorite artists.
The company is also committed to becoming a decentralized autonomous organization with community governance in the near future and giving back to its community through monetization and experiential opportunities.
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