UpliftMe builds a community to facilitate support for upcoming artists. Artists mint an NFT at a cost which will go to the community fund and grants access to events. The community eventually decides where the funds will be applied through voting on proposals.
The current musical industry is very centralised and only the well connected get to be represented by the popular musical labels. Blockchain technology makes it easy to decentralise an existing system giving equal opportunity to everyone. UpliftMe will provide equal opportunity to all artists willing to progress, powered by the community willing to invest and profit in the ecosystem.
It integrates a blockchain based proposal and voting to allocate resources based on majority poles showcasing the power of decentralization. In this case, each artist are rewarded by their efforts and community engagements.
Here is a summary of how it works divided into the Artist and the NFT:
In a proposal opened for upcoming artists, a number of Artists applied each having a free record or album for communities/investors to listen to. Ordinarily, the musical artists will require a community to promote, a record label to advertise and produce, and once they have attained a level of publicity, they will be granted offers like adverts, ambassadors, models, and then events and parties entertainers among others. The NFTs minted by the artist from their accounts will be open for purchase by the donors and the proceeds will be used to support the selected artists.
Each purchased NFT will have distinct features of access tokens asides from the royalties of subsequent purchases and also act as a security token.
Pending the time that the Artist will be able to start generating revenues and after, the NFTs will serve as a free VIP entry pass for the owner at any of the events the Artist is performing.
Secondly, a snapshot of wallet is also carried out to enable distribution of securities into wallets when proceeds on events and album launches among others start to flow in.
Now, while we can’t entirely ensure all payments will be made through the platform, most of it will be done via our platform. All artists are however also legally binding (for a term period) to pay a certain or decided percentage back into the platform regardless of the platform used in signing a contract (in case external agreements are made). The platform owns part ownership in the future proceeds of the artist which is legally binding and enforceable.