By joining forces, DRiP becomes the
defacto home for on-chain music on Solana
AUSTIN,
Texas, July 1, 2024 /PRNewswire/
-- Solana-based creator platform DRiP is thrilled
to announce the acquisition of Vault Music, the limited-edition
music platform on the Solana blockchain. By joining
forces, DRiP will enhance its experience for musicians and on-chain
music collectors in the Solana ecosystem.
All Vault Music drops and users will transition to the DRiP
platform, in alignment with the upcoming release of DRiP's mobile
app, which will expand the types of content and experiences
available to the creator platform's users.
"Vault was our first music partner on DRiP," says CEO
Vibhu Norby. "They did a phenomenal
job harboring musicians from outside of the existing ecosystem, and
we're excited to help them continue that effort."
Founded in November 2021 by the
co-founders of FanDuel, Vault Music allows artists to create
exclusive, limited-edition music releases. Vault released over 100
music drops a year from breakout artists like FLETCHER, Kids That
Fly, Caroline Rose, AKTHESAVIOR,
Naika, BLÜ EYES, and many more. By joining the DRiP ecosystem, all
of Vault's artists and fans will now release and enjoy on-chain
music via DRiP's forthcoming mobile app.
"We're incredibly proud of the tools and community we've built
to help independent artists sustain their careers directly with
their own fanbases," says Vault Music CEO Kara Burney. "DRiP shares our belief that web3
technology can be used thoughtfully to create true ownership and
new royalty models that did not previously exist for artists.
Ultimately, this is a win for our community, who believed that
on-chain music could make a sustainable difference in the
livelihoods of artists, and improve fan experiences in the process.
We believe wholeheartedly in DRiP's vision to transform the creator
economy, and we are grateful to be a part of their ongoing
investments to serve the music industry."
DRiP will release its tier-1 mobile app on Android and iOS later
this summer, according to Vibhu
Norby, founder and CEO of DRiP Labs. The mobile app,
currently in alpha testing, will feature a natively embedded wallet
automatically created for the user, as well as highly requested
music-specific features, significantly easing the onboarding
process for non-crypto music fans.
DRiP has already established a strong foundation in the music
vertical, including onboarding both web3 and mainstream artists,
such as Jason Derulo and Waka Flocka Flame. DRiP also plans to
expand the types of content and experiences available to creators,
including news, video, and podcasts on the platform. These will be
directly accessible in the app and can also be viewed in compatible
wallets like Phantom.
Vault Music, known for its unique rare music DSP model, allows
artists to create exclusive, limited-edition music releases.
Co-founded by the creators of FanDuel, Vault Music's format
hyper-rewards top fans and creates a new revenue stream for
artists. Music releases on Vault Music are limited — the artist
decides the price and scarcity — allowing only a few fans to access
each release. Fans can choose to hold their collection or resell it
on the Vault Music secondary market. Unlike secondary markets for
physical vinyl, which don't benefit artists, Vault Music artists
receive royalties every time a music release is resold, creating a
perpetual revenue stream.
For more information, please contact:
Kara Burney
kara@vault.fan
210-912-2475
About DRiP
DRiP is the leading creator platform on the Solana
blockchain that allows artists and creators to distribute digital
works, such as art and music, to their followers. With a focus on
mainstream-friendly user experience, DRiP is expanding the types of
content and experiences available to creators, including news,
video, and podcasts.
About Vault Music
Vault Music is a groundbreaking music platform that allows
artists to create exclusive, limited-edition music releases.
Co-founded by the creators of FanDuel, Vault Music provides a
unique format that rewards top fans and creates new revenue streams
for artists, ensuring artists benefit from every resold
release.
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SOURCE Vault Music