Vezt Announces New Platform for Buying Song Royalties
November 11, 2017
Vezt is a new music investment platform based on blockchain technology that creates a marketplace for purchasing and trading shares in individual songs. Through its Initial Song Offerings, Vezt allows artists to sell songs, or parts of songs, to fans and investors. During the ISOs, artists and rights holders choses how much they want to raise from a part of their song, the reversion term and set a date for the ISO. Fans then purchase Vezt tokens and use those to buy shares in the portion(s) of the song(s) for sale in the ISO. Artists receive funds credited to their bank accounts immediately. Vezt uses blockchain, the decentralized ledger technology made famous by bitcoin, to immutably and securely store song rights and payment information. Vezt also uses blockchain to transparently and accurately track, collect and distribute royalty payments from Performing Rights Organizations and other rights collectors to artists and investors.