Rapper Nipsey Hussle has been on an equity spree as of late, specifically when it comes to companies built on top of blockchain, (A blockchain, originally block chain, is a continuously growing list of records, called blocks, which are linked and secured using cryptography.) Late last year Hussle invested in Followcoin, a crypto-based startup that allows its users to mimic the investment habits of some of the top crypto traders, And today Nipsey announced via insatgram that he has acquired an equity stake in the blockchain-based music startup Vezt.
Vezt lets music fans share ownership with artists in their favorite songs.
Vezt is a revolutionary new platform that gives artists and rights holders control over their new or existing songs and allows them to easily capitalize on their work by choosing portions of their songs to offer for sale to fans, friends, rights-buyers and brands.
The Vezt platform employs blockchain technology to track and collect royalty income transparently. Vezt offers a true marketplace for songs and gives artists the opportunity to make a living and continue doing what they love most – make music.
How VEZT Works
- Rights-buyers (including fans, music professionals and brands) on Vezt, buy song rights during the ISO™, and the artists receive funds credited to their account immediately.
- The song rights information is encoded on Vezt’s blockchain.
- Song royalties are then collected from Performing Rights Organizations (“PROs”) in 137 countries around the world, as well as STEM, which aggregates digital performance royalties from Spotify, iTunes, YouTube, Pandora, etc.
- Vezt transfers those earnings back to the artists and rights-buyers, creating a new marketplace, with no limits on new and exciting music artists will create.