TOKiMONSTA's Sona Stokes Revolution With Web3-Friendly Streaming Economics

Whereas music commerce at the moment is dominated by streaming giants, Sona is studying to unlock the guarantees of Web3.

Co-founded by TOKiMONSTA, this new entrant into the sector simply closed a capital increase of $6.9 million on the again of a compelling narrative: bringing a revolutionary method to music streaming and artist compensation.

In distinction to the standard fashions of Spotify and its Huge Tech counterparts, Sona is integrating NFTs into its ecosystem, offering instruments to creators for content-streaming and direct artist-to-fan interactions. The corporate’s digital market permits followers to buy “SONAs,” or digital copies of songs, making them stakeholders within the music they love.

The platform’s distinctive enterprise mannequin not solely affords artists a income stream that didn’t exist beforehand, but additionally augments the patron expertise by eliminating the necessity for adverts or subscriptions. The core of Sona’s mission is a need to enhance the connection between artist and fan, per Music Enterprise Worldwide.

“The artist and rightsholders retain 100% possession of the unique tune [on Sona] — in order that’s a bit completely different and why we don’t actually see ourselves as a music NFT platform,” TOKiMONSTA stated. “We’re centered on the relationships between artists and followers.”

Right now the Sona platform at the moment hosts over 5 million tracks and counting. In the meantime, {the marketplace}’s inaugural public sale came about on December seventh with the tokenized sale of TOKiMONSTA’s “Rouge.”