What is Netra?
Netra is a community-first platform for artists to share their music ownership and royalty sharing using Non-Fungible Token (NFT).
Netra is the first royalty sharing music NFT in Asia.
In 2020, the total revenue of the recorded music industry amounted to 23.1 billion U.S. dollars. Streaming made up 56 per cent of this figure, bringing in 11.9 billion dollars globally (Statista, 2021)
One extreme example is a song by Mariah Carey: All I Want For Christmas Is You has already been streamed more than 1.2 billion times on Spotify. According to this royalty calculator, this song generated more than $2.5 million from this one streaming service, not including other services like Apple Music, Youtube, Tiktok, etc.
However, artists often struggle to make a living because big players monopolise the music industry making hefty money as the middlemen. But, it doesn't have to be this way.
Netra aims to be the solution to those deeply rooted issues.
Netra is a Non-Fungible Token (NFT) marketplace that allows fans to co-own a song, supporting their favourite artists while having an exceptional source of passive income that lasts forever from the streaming royalty.
Legendary musicians have already collaborated with Netra to create first-rate arts imbued with exclusive perks and a share of royalty gained from multiple streaming platforms such as Spotify, Apple Music, Youtube, Tiktok etc.
By implementing the principle of decentralization, benefits earned through music streaming will be directly transferred to the musicians and fans as stakeholders without third-party interventions. And by utilizing blockchain technology, the safety and authenticity of every transaction and the promised perks are steadfastly guaranteed.