Stemit, a pioneer in the production and management of music stems, today announced the company will be partnering with Datavault®, a leader in tokenomics and metaverse data visualization, valuation, and monetization, to deliver innovative blockchain-based Stem NFT products and services to the music industry. The partnership brings together two forward-thinking companies focused on music content production, distribution, and the asset protection necessary to bridge Web 2.0 to Web3.
Founded in 2017, Stemit has assisted music creators and rights holders through the challenges of stem creation, management and monetization. The company is currently working with labels globally, helping them to expand their royalties and revenues through the use of stems. "It took a minute, but stems are now a focus of labels as they have begun to value their importance as part of a deployable catalog of assets," notes Stemit founder and CEO Joshua Kaplan. "Very few labels have a full stem library alongside their masters that allows them to take advantage of revenue opportunities in gaming, karaoke and, of course, sync. There has also been a movement for labels to deliver non-vocal versions of their masters to meet the exploding demand for instrumental playlists."
Datavault®, a leader in advanced cloud-based services, architects technology stacks complemented by AI to deliver first-to-market, secure, and scalable asset and data solutions. Stemit will begin releasing new stem-based NFT applications immediately, taking advantage of recent strategic partnerships announced by Datavault®, including deals with crypto-exchanges and predictive analysis and Internet of Things experts. The companies will begin utilizing ADIO’s patented data-over-sound technology to inject asset identifiers into audio NFTs, providing a new layer of rights protection and asset tracking.
"Datavault® has prioritized cybersecurity first within our patented platform and protecting data content objects and media files for creators is paramount in our execution," points out Datavault® co-founder and CEO Nathaniel Bradley. "Stemit has mastered the ability to isolate, pair and parse musical content in a way that fosters creativity and maximizes the financial yield derived from music assets. We are excited about the impact that our combined technologies will have in this marketplace."
The companies will share details on their initial music NFT fan activation application later this month.
