Music fans to earn royalties from songs after British company secures rights to 100,000 tracks
Media giant Ayozat has bought copyrights of several hit films and its users will be given a chance to part-own the songs.
The back catalog includes Michael Jackson’s first song with the Jackson 5 titled ‘Big Boy’, which he recorded before the Motown Legends hit and will be featured in a new 2023 film about the band.
Other tracks included in Ayozat’s deal with entertainment copyright specialist Lumi AG include the Bee Gees, Eminem, Snoop Dogg, Luciano Pavorotti and the Sex Pistols.
‘And to introduce the early Jackson 5 songs to an entirely new audience next year, the chance to make big money through royalties is a real possibility.’
Ayozat users can purchase the rights to songs from the media company’s NFT-owned platform.
An NFT (fungible token) is a digital asset, representing a real-world commodity, that is bought and sold online, often with cryptocurrency, and is encoded with multiple cryptocurrencies with the same software.
Explaining the revolutionary concept, Ayozat President Umesh Perera said: “This new platform gives fans the opportunity to invest in music and cryptocurrency with the added security of key assets.
‘NFT are set to revolutionize the world of music, a proud moment for Ayozat to be the first to offer this unique type.
‘We can’t wait to share the benefits of trustworthy ownership with users around the world.
‘As copyrighted content continues to make money through sync, television, radio, advertising and other means – those royalties will be distributed between our NFT platform and the NFT owners.’
