Almost two centuries old, but still at the forefront of innovation. Sacem, which manages the rights of authors, composers and music publishers, has just announced the signing of an unprecedented partnership agreement with French platform Pianity, which markets music NFTs. The principle is almost no different from vinyl collectors, which at the time were distributed in a few copies around the world. Only this time we are talking about dematerialized works: a song, an album, an image, a video clip.
The approximately 197,000 Sacem members who will sell their musical creations tomorrow in the form of NFTs from the Pianity platform will receive royalties. And they will also benefit from the “resale right”. in other words, they will earn money with each resale of their NFTs. Previously, rights holders only received money when they bought a CD or vinyl at Fnac or from a distributor. But not a penny when sold second hand…
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Source: Le Figaro
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.