This interview is part of our new Blockchain In Music series, where we interview the world's leading thought leaders on the front lines of the intersections between blockchain and music.
In this interview we speak with Nigel Rudlin, Founder and CEO of indieOn, to understand how his company is using blockchain to transform the music business, and what the future of the industry holds.
1. What’s the story behind indieOn? Why and how did you begin?
NR: The concept was initially started as a method to digitally tip musicians, most of who struggle financially. Endeavoring to improve the entire overall landscape for artists, by providing a different kind of gateway for talented independent creatives to gain greater exposure while generating some revenue. This would not only benefit the artists but our culture and society as well, as this would encourage others to enter the space that might not otherwise have considered it as a viable option. There were several pivots along the way, but the deeper we dove the project evolved in the fully built out platform that it is today, with more features coming on line very soon.
The founders and myself are all perfectionists to a large degree and desired to build something truly revolutionary. Being self funded afforded us the luxury of trailblazing, and pushing the limits of the technology. We stayed intently focused on the project, even with partners and teams spread around the globe, while ignoring all the negative “noise” that was so prevalent from all the sham crypto projects with no real world purpose.
2. Please describe your use case and how indieOn uses blockchain:
NR: We strived to build a real world practical everyday use for blockchain technology that would not only help artists efficiently showcase and monetize their creative content, but also protect artists' rights, greatly reduce or eliminate streaming fraud, while ensuring that royalties were protected. In doing so, we developed specialized smart contracts that are triggered when certain RGE (revenue generating events) events happen allowing for near instantaneous payments of royalties to the correct parties.
By rewarding audiences for participation, who share content they like with others outside the ecosystem, we are able to leverage both subscriber’s and content providers.
3. Could you share a specific customer/user that benefits from what you offer? What has your service done for them?
NR: Content creators/ providers and “users” both benefit from participation in the indieOn ecosystem. We reward artists with our NDI tokens for uploading, and further when that content is shared when it results in new users. Users/subscribers are also rewarded when they share content that results in new users, or content providers coming on board. These crypto tokens can be used within the ecosystem to shop at the indieOn store for goods and services, or to ‘Tip” your favorite band while hanging out a club! These Ethereum (ETH) based crypto tokens can later be exported out and converted to Ethereum or Bitcoin and sold into fiat currency through various platforms, like orderbook.io (who is conducting our ICO, and others where we will soon be listed), from your digital wallet or held long term for potential appreciation. By building our entertainment platform on blockchain utilizing the crypto currency utility, with specialized smart contracts, we are assisting in the mass adoption of this new technology by empowering everyday people to experience it, in a space many are already somewhat familiar with, and hence demystifying its use.
4. What other blockchain use cases in the music industry are you excited about?
NR: As far as other use cases in the music industry, I think that the very act of creating an immutable record of ones intellectual property on the blockchain is pretty exciting. Almost like self copyrighting. By further providing a secure method for artists to manage, market and monetize to a much greater degree than present systems allow has a lot of people very excited about being part of this revolutionary way of doing things. I believe that some of the ancillary crypto components soon to come on line will further validate the use of this technology.
5. Where will indieOn be in five years?
NR: So, let me get out my crystal ball.. I have to say that given the very positive support reception we have been getting, not just from song writers, well established musicians, independent filmmakers and users, but also from Government agencies like the State of New Mexico Film Office, Lisa Lucas, Senior Production Manager for the State of New Mexico. The Platinum Music Awards, David Schwartz, and Ned Jacobs, NAMM, Jeffrey Weber (where I did a TEC Tracs talk) in addition to our other media and industry partners I think we are poised for explosive growth. Last but not least, Moses Avalon, who immediately got the concept when we connected at NAMM. Moses A,valon is well known in the music industry as an artist rights veteran. Moses Avalon, author of numerous books on music royalty scams has been engaged to perform over-site in the creating of the smart contract to ensure that everyone in the creative supply chain creative gets their fair share immediately.