Music-rights firm Revelator has launched its ‘digital wallet’ app for musicians, called Artist Wallet. It’s the company’s app that uses smart contracts to process streams and pay out royalties faster.
“When a song is streamed online or played on the radio, rights holders are notified directly on their mobile device, and can safely access and cash out their royalties in the Wallet whenever they want,” explained Revelator in its announcement.
The company has also announced a partnership with audio-fingerprinting firm BMAT and Finnish collecting society Teosto to “advance the way performance royalties are paid by introducing near real time monitoring and processing of radio performance data”.
Revelator first showed off the wallet app at the NY:LON Connect conference in January, as part of the launch of its Original Works spin-off. “You’ll see the ability to create a contract from your phone, the ability to record the contract on the ledger, and then connect the asset to a platform that generates revenue that distributes your music,” said CEO Bruno Guez at the time.
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