The creator economy has become an estimated $100 billion industry over the last few years, and the emergence of web3 and NFTs have accelerated the trend of creative collaboration by offering more direct ways for creators to monetize their content.
Though with robust collaboration comes difficulties with royalty compensation, revenue share, middlemen, and the friction that payments can cause in collaboration.
Adrien Stern is a former international music artist who has toured across Europe as the guitarist and manager of the popular Swiss reggae band, Najavibes. After founding an indie record label and producing music for top reggae artists, Adrien experienced firsthand the painstaking and drawn-out process of receiving royalty payouts from music collaborators across different countries — which put Adrien on a path to find solutions for the revenue share distribution.
The reggae artist built a music blockchain startup to ensure proper music contributor compensation and today, Reveel (r3vl.xyz) is an on-chain revenue management platform that automates revenue distribution among collaborators and gives access to NFT catalog analytics — powering the future of creative collaboration.
“As people move into the web3 space, we are seeing more collaborative projects and shared property, which makes for an increased amount of projects that are paid on a revenue share basis,” shares Reveel’s CEO & Founder, Adrien Stern. “We think facilitating revenue sharing is not just going to become important for musicians and creators, but for more and more projects collectively.”
“We think facilitating revenue sharing is not just going to become important for musicians and creators, but for more and more projects collectively.”-Adrien Stern, CEO of Reveel
Reveel is helping creators manage their businesses and share their on-chain revenue by providing a tool that makes the administrative side of revenue sharing and royalty accounting as easy as possible.
TAROT, an indie pop artist who has built a strong reputation in the Music NFT space utilized Reveel’s automation on-chain revenue split service for her wavROOM NFT drop on Glass.xyz. This allowed her to divide the revenue generated from the live music performance video NFT amongst herself, collaborators, sound engineers, Publishing Rights, and Master Rights.
- 25% of the path was allocated to the wavWRLD treasury & core contributors to the event (the organizers of wavRoom)
- 5% was dedicated to the sound engineer that recorded & mixed the audio
- 35% of revenue was attributed to the Publishing Rights
- 35% of revenue was attributed to the Master Rights
This process grants each individual the right to withdraw their share of the earnings at any time while avoiding the traditional use of middlemen and accountants to calculate royalties.
TAROT’s Reveel Revenue Path set an important precedent by giving artists the opportunity to share on-chain revenue between everyone involved in the music production, and automatically redistributing the earnings.
Along with TAROT, Reveel has also partnered with other recognizable names in the Web3 music space including Venice Music, Glass.xyz, wavWRLD, Chill.rx, BlackDave, Sammy Arriaga, and many more. Reveel will also be releasing early access membership NFTs for early adopter web3 creators next month.
Whether it is in music (Beyonce has 24 songwriters on a single song – ‘Alien Superstar’), in Video (YouTubers are collaborating to grow their audience), or in NFTs (Artists partner with developers and marketers), collaboration is at the center of the creative economy. Reveel is redefining the principles of decentralization and ownership in the Web3 space by offering artists and creators the opportunity to manage and monetize their work.