Blockchain music management company Revelator raises $2.5 million to track music copyrights

Rage Review : Revelator, a cloud-based sales provider and independent music market intelligence company, has raised $2.5 million in Series A funding to efficiently track music copyrights and distribute royalties to copyright owners. Artists on the platform can view sharing needs with just one click. They no longer need to send requests to managers, accountants or record companies and then wait for responses. With increased transparency, trust between all relevant parties can be strengthened and friction can be reduced.

Translation: Nicole

Independent music market intelligence business Revelator, a cloud-based sales provider, has raised $2.5 million in a Series A round led by Exigent Capital this week.

Revelator promises to efficiently track music copyrights and distribute royalties to copyright holders. The company issues copyright registries because digital assets can be protected by multi-signature verification, enforcing the terms and conditions of each party and legal compliance rules.

Exigent joins Digital Currency Group, which invests primarily in bitcoin and blockchain companies.

Bruno Guez

In an interview with Mashable, Bruno Guez, founder and CEO of Revelator, said:

“If you have data every day, why can’t I pay you money every day? If you have 1,000 downloads, I can pay you $700 tomorrow. Blockchain technology can indeed provide truly disruptive technology to the music industry. Blockchain is not the only important technology, and it cannot solve all the problems in the industry, but I think the features we currently provide can indeed bring new features to the music field.”

Guez said Revelator is targeting copyright holders, who can use blockchain technology to add copyrights to music or other content, while also promoting the music and content of content creators. Blockchain can also track downloads and streams on Spotify and other services.

Artists on the platform can view sharing requests with just one click, and they no longer need to send requests to managers, accountants or record companies and then wait for responses. With increased transparency, trust between all relevant parties can be strengthened and friction can be reduced.

Israeli startup Public completed a project for WBUR, Boston’s public radio station, which developed a music library for a new podcast project while coordinating all copyright issues for all NPR users.

Midemlab said Revelator was one of the 20 hottest music startups in 2016.

Another company that wants to apply blockchain technology to the music industry through its own approach is Colu. The platform aims to help developers and consumers who are unfamiliar with or have little understanding of Bitcoin to build their own applications and exchange digital assets, ranging from financial industries to ownership industries.

Other companies are also using blockchain for copyright management, such as Blockai, which has used blockchain to manage visual art copyrights.