A new record label company promising to “revolutionise and democratise” the music industry with a new Blockchain platform is launching an initial coin offering (ICO) this month.
Hunter Corp Records (HCR) has developed an online exchange, a social media and digital advertising platform to transform the industry into a fair and transparent global playing field both for music artists and their fans.
It has developed an alternative virtual music economy – called the HCR Music Ecosystem – which allows independent artists to tokenise or monetise their brand by issuing Artist Coins.
The coins can then be listed onto the internal HCR Exchange which enables the artist’s brand to become valuable, tradeable and purchasable by the community – similar to a publicly traded company on a traditional stock market.
The virtual ecosystem also features tools and programmes that allow artists to produce music, release it to the world and build their fanbase.
“The music industry is in desperate need of change as music artists continue to get shocking deals from major record companies,” said CEO and founder Joshua Hunt.
“I discovered this first hand when recently my daughter was asked to sign with a UK TV music show and the terms were so prohibitive and biased against the artist. It was then that I felt we had to do something to change this industry.
“We are bringing together our vast network of international investors and some of the world’s best music artists to create an innovative alternative located on Blockchain technology.”
HCR has announced the launch of its HCR Token to the market, with the initial coin offering (ICO) commencing on 30th May.
The company says the proceeds will be used to complete and further enhance all the elements of the HCR Ecosystem and to launch at least 10 music artists with fully funded music contracts onto the HCR Exchange.
“The HCR model creates a great and fairer deal for both music artists and fanvestors and Hunter Corporation is proud to be a leader in this revolution,” Hunter added.
“It’s an exciting time for the music business and artists globally.”