In February, Keatly Haldeman introduced that he was exiting his function as CEO of Riptide Music to launch a Web3 music sync licensing platform, known as Dequency.
He additionally revealed that the startup had raised $4.5 million by way of an funding spherical led by Borderless Capital.
Dequency has now come out of its restricted beta section, throughout which it says it had a “restricted seed catalog out there to license”.
The startup claims that this week’s “v1.0 launch” creates a “two-sided market”, by “permitting any music rightsholder that owns each the recording and publishing rights of a monitor to license their music on to a licensee with out an middleman in between the transaction”.
Dequency claims additional to have executed “the primary ever sync license on a public blockchain final yr” when Late Night time Folks by Goldfish ft. Soweto Kinch was licensed by the platform’s SmartSync contract.
Constructed on the Algorand blockchain, Dequency claims to be, “the one choice for on-chain sync licensing for blockchain-native content material corresponding to motion-visual digital artwork, NFT tasks, video games, and metaverse productions”.
Based by cryptographer Silvio Micali, Algorand is an open-source public blockchain based mostly on what Dequency says is “a pure proof-of-stake consensus protocol that helps fast, environment friendly, and safe transactions wherever on this planet”.
Dequency was based in early 2021 by Haldeman and two different music trade veterans: George Howard and Mark Ross.
Haldeman is the previous CEO of Riptide Music Group, a publishing firm and report label specializing within the synchronization of music to image.
“We use web3 instruments corresponding to sensible contracts and cryptocurrency, to not be a part of the hype cycle, however as a result of this know-how permits unprecedented effectivity and management for licensing transactions and cost.”
Keatly Haldeman, Dequency
Dequency CEO Keatly Haldeman mentioned: “We use web3 instruments corresponding to sensible contracts and cryptocurrency, to not be a part of the hype cycle, however as a result of this know-how permits unprecedented effectivity and management for licensing transactions and cost.
“Our purpose is to create a decentralized sync market the place artists and music rightsholders management their on-line licensing expertise, thereby attracting essentially the most discerning creators and copyright homeowners.
“Audio-visual content material creators profit from a uniquely various and elevated catalog of music with simple licensing for his or her tasks. In the present day, we’re one step nearer to our imaginative and prescient turning into actuality.”
Music Enterprise Worldwide
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