Blockchain-Powered Music Platform Launched By FENIX

Blockchain, News | May 8, 2020 By:

FENIX has announced the launch of its blockchain-based platform to provide a one-stop-shop for artists everywhere, both aspiring and established.

Powered by the Ethereum blockchain, FENIX’s platform aims to rebalance music-industry dynamics in favor of independent artists and fans, giving every artist a fair shot and a minimum of 80 percent of the hard-earned proceeds from their music. The platform enables artists to build their own app in just 20 minutes where they can sell merchandise, concert tickets, and interact directly with their fanbase. FENIX’s unique approach to the musician-fan relationship allows followers to support the artists by awarding FENIX tokens, the company’s utility token.

The web-based app features everything an artist wants it to, including video and audio music, social media, merchandise, ticketing, and interviews. Fans can navigate through every artist’s app on FENIX’s platform and, using FENIX Tokens, purchase artist merchandise and concert tickets, as well as make donations to artists they support. FENIX offers artists direct and instant access to fans, all while enabling them to earn income on ads.

“Nobody has really provided meaningful support to non-famous artists,” said Allan Klepfisz, Chairman & CEO of FENIX. “We are sincerely dedicating ourselves to do so, on multiple fronts- by providing a means of significantly increasing their revenue, by constantly adding effective tools to improve their business, not taking an obscene percentage of their revenues, and giving them total control of how they present themselves. As far as we are concerned, this just constitutes a modest start.”

According to FENIX, the platform will have a maximum of 2.79 billion tokens in circulation. FENIX will offer 180 million tokens as grants to artists in the first two years of their business, in two grant rounds of 90 million tokens each.

“Today, it is harder than ever for artists to earn the money they deserve,” said Lance Ford, Founder and President of FENIX. “Solutions to help artists need new thinking, both literal and lateral. Our blockchain-powered app offers smart and simple functionality, returning to artists control over their music, image, and message. FENIX puts artists in charge, empowering them to communicate directly with their fans.”

The blockchain-based platform is open to retail investors outside of the US and China, as well as accredited institutional investors in the US.