Sacem and Pianity announce the signature of an agreement on music NFTs
A new step forward in Web3
Sacem and Pianity, the leading French marketplace for music NFTs, have announced the signature of the first-ever agreement that sets up a model of a fair remuneration for music creators and publishers on sales of music titles in NFT form.
The agreement between Pianity and Sacem is the result of close collaboration and shared experiences between the two teams. Pianity will become a platform that not only contributes to the democratisation of music NFTs but also creates value for the artists whose works it helps to disseminate, by allowing them to benefit from royalties on sales of their works.
This agreement includes the resale royalty, or droit de suite, a major innovation in the music industry made possible by NFTs. As such, each time one of these NFTs is resold in the future, the creators of the musical work will receive revenue.
For Sacem, this partnership underscores its willingness to collaborate with new Music Tech players in its effort to develop novel ways to make music live in the digital world.
It is also a further sign of Sacem’s commitment to Web3 as part of its constant effort to provide its members with the best possible support and to enable them to benefit from new sources of revenue linked to the evolution of music uses. NFTs provide new opportunities for creators in the dissemination of musical works, as well as for fans, who can access rare and exclusive content.
NFTs are a nascent market, but everything indicates that their use will expand widely in the near future; this is why it is important to forge ahead now and build fair and equitable modes of remuneration for creators.
Music NFTs certainly have the potential to maximise the value of creation as well as to engage fan communities through new experiences — and this is what led Sacem to launch its own NFTs as part of the Grands Prix Sacem.
Cécile Rap-Veber, CEO of Sacem said:
"This new agreement with Pianity marks a new stage in our entry into web3 alongside an ambitious and royalty-conscious player. In view of the technological challenges to come in Web3 and the problems linked to remuneration that persist in the digital world, I remain convinced that we must build a virtuous circle to fairly share the value of music — collectively, with all the players in the industry. Sacem is committed to playing a leading role in these issues by putting its innovative approach in the service not only of our members, but of the entire industry."
Kevin Primicerio, Co-founder and CEO of Pianity, said:
"We created Pianity with the aim of offering artists fair remuneration and allowing them to live from their music. We are very proud to work with Sacem to develop the legal framework around a format as recent as NFTs. With this partnership, we are taking a big step towards the establishment of a virtuous ecosystem where the creation of value is redistributed directly to the rights holders, whether they are authors, composers or publishers."
In a constantly changing environment, Sacem is committed to creating ever more value for the more than 196,000 authors, composers and publishers who have chosen it to manage their rights. Thanks to its territorial coverage, its technological expertise, its ability to negotiate agreements with all broadcasters and digital platforms, combined with its unique social and solidarity-based model, Sacem has become a world leader in collective management. It collects royalties in nearly 200 territories on behalf of some fifty international publishers (Universal Music Publishing, Warner Chappell, Wixen Music Publishing, etc.) and foreign copyright societies (Socan, Komca, Ascap, Artisjus, etc.).
Pianity is a music platform where musicians and their community gather to create, sell, buy and collect songs in limited editions. Pianity’s pioneering approach, which includes free listening for all and the possibility for artists to turn their songs in NFT, enables deeper connections between artists and their audience.
Through its mobile application, Pianity allows artists and their fans to create music communities where they gather in token-gated Clubs to share exclusive experiences and be part of the artists’ journey.
Because Pianity treats music as fine art, artists gain a new source of independent revenue while deepening the relations between artists and music fans.
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