How does VAULT Protocol use DMC to make Web3 vinyl records?

The days of physical records are long over, and now people can hear everything with a few screen taps and a few subscriptions, no longer having to buy anything individually.

It's probably happened to you on a streaming music platform: Click on the musician's details page, only to find the same old songs in a bunch of different covers. These albums are artists' greatest hits or limited collections, and often include special physical content, such as autobiographies and elaborate lyricbooks, off the disc. But what does all this mean to people who have unlocked digital access to these albums by subscribing to a streaming service?

While the Internet brings convenience to music, it also deprives music fans of the sense of owning music and the fun of collecting it. Without such an important bond as record, the relationship between musicians and music fans is gradually estranged. However, no matter how music forms and consumption concepts change, the desire for a closer relationship between creators and fans will always exist. Web3 creator economy seems to be born for this reason.

Bring back the glory of vinyl with Web3

VAULT is a Solana-based Web3 music platform where creators can publish exclusive content including music, videos, photos, text messages, VIP invitations and more. VAULT allows creators to easily build their vaults, turn their music and content into limited collectibles, and sell tradeable NFT keys for over 80% of sales. When fans buy and hold the NFT key, they can open the vault and access its contents.

DMC format

DMC (Digital Music Collectibles) is a new music format from VAULT that hosts audio and allows fans to collect limited collectibles by their favorite artists. DMC aims to bring back the joy of collecting music for music fans while providing more income for artists, and re-establish a close relationship between creators and fans. VAULT wants DMC to be the vinyl of the Web3 era.

DMC is positioned closer to the Box Set of traditional music than to a single album. Fans can purchase and unlock DMCS with rare recordings, lyric commentary, indie tracks, historical versions, voice memos, and more, and play them directly on their phones without any additional decompression steps.

The Beatles Box Set

Good design and packaging are important for a product, but if you have to download an App specifically for it, it's less appealing, so VAULT has launched a format, not an App.

The VAULT Protocol, a decentralized and open protocol for the broad music industry, enables users to buy, play, and share DMC content from any website, App, or music player.

Team introduction and project progress

VAULT was founded by Nigel Eccles and Rob Jones. Nigel Eccles and Rob Jones co-founded FanDuel with co-founders in 2009, turning FanDuel into a multibillion-dollar sports betting giant.

In 2017 Nigel Eccles and Rob Jones left FanDuel to start Flick, a video game and social media platform. In May 2020, Nigel Eccles teamed up with Scott Greenberg and Mike Kuchera to launch StarStock, which focuses on sports card trading. In March 2021, StarStock raised $8 million in a funding round from investors including a16z and NBA Atlanta Hawks star Trey Young.

Officially, VAULT Protocol will go live in the first quarter of 2023.

So far VAULT has partnered with FLETCHER and will continue to sign more artists. In the short term, VAULT's main goal is to promote the DMC format to major record labels and independent music publishing labels worldwide, and to promote the adoption of the VAULT protocol across music business systems, such as music digital signal processing and digital distribution services.

On February 9, 2023, VAULT closed A $4 million Series A round led by crypto investment firm Placeholder VC, AlleyCorp, Bullpen Capital and Everblue Management, which had previously invested in the company, contributed. To date, the company has raised $13 million in total funding at a valuation of about $42 million.

conclusion

In recent months, we've seen a number of attempts to combine music with Web3. VAULT's experienced team understands the psychology of creators and consumers and the importance of consumer-friendly design. Its vision is to create a new music format through a decentralized open protocol that re-establishes the intimate relationship between creators and consumers in the streaming era and extends the DMC format to the entire music ecosystem.

The vision and ambition of VAULT is exciting, but whether DMC can break through the Web3 music field and promote to the wider music industry is still questionable, and its influence and specific product form will need to be tested over time.

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