We have decided on going forward with our project and create Muzible with two major reasons behind it. The first one is — to bring back the ownership of music to the listeners, and the second one is — to reinstate artist as main benefactor of his own creation and put artist first.
For long enough those who truly benefited from CD sales were record labels, manufacturers, retailers, and distributors. Leaving artists as the last one who get to share any parts of the financial gain he actually created.
In a typical case the share of the price of a CD album would be like this — a distributor would get as much as 22%, a record label 30%, retailer 30%, manufacturing 5%, and the artist is left with only 6.6%. So if we take a typical price of a CD in 2021, which would be roughly $13.00, an artist is going to get around $0.46 for each CD sold！
In this blockchain based model of music distribution through NFT Albums this entire framework that became standard for music industry is disrupted. The decisive part is that the artist is getting the fair share of the income that selling of their music generates. This is due to the costs of printing, packaging, CDs, retailing and the distribution.
Within this chain of manufacturing and distribution chain the actual creator of the music is the one who gets the least. Our solution offers the new approach to this model that we call — Artist First.
That is why thanks to blockchain technology and the low costs of the creating and distributing the NFT Albums we are changing the standard model and allowing the actual creators to be compensated fairly.
