By joining forces, DRiP becomes the defacto home for on-chain music on Solana
AUSTIN, Texas, July 1, 2024 /PRNewswire/ — Solana-based creator platform DRiP is thrilled to announce the acquisition of Vault Music, the limited-edition music platform on the Solana blockchain. By joining forces, DRiP will enhance its experience for musicians and on-chain music collectors in the Solana ecosystem.
All Vault Music drops and users will transition to the DRiP platform, in alignment with the upcoming release of DRiP’s mobile app, which will expand the types of content and experiences available to the creator platform’s users.
“Vault was our first music partner on DRiP,” says CEO Vibhu Norby. “They did a phenomenal job harboring musicians from outside of the existing ecosystem, and we’re excited to help them continue that effort.”
Founded in November 2021 by the co-founders of FanDuel, Vault Music allows artists to create exclusive, limited-edition music releases. Vault released over 100 music drops a year from breakout artists like FLETCHER, Kids That Fly, Caroline Rose, AKTHESAVIOR, Naika, BLÜ EYES, and many more. By joining the DRiP ecosystem, all of Vault’s artists and fans will now release and enjoy on-chain music via DRiP’s forthcoming mobile app.
“We’re incredibly proud of the tools and community we’ve built to help independent artists sustain their careers directly with their own fanbases,” says Vault Music CEO Kara Burney. “DRiP shares our belief that web3 technology can be used thoughtfully to create true ownership and new royalty models that did not previously exist for artists. Ultimately, this is a win for our community, who believed that on-chain music could make a sustainable difference in the livelihoods of artists, and improve fan experiences in the process. We believe wholeheartedly in DRiP’s vision to transform the creator economy, and we are grateful to be a part of their ongoing investments to serve the music industry.”
DRiP will release its tier-1 mobile app on Android and iOS later this summer, according to Vibhu Norby, founder and CEO of DRiP Labs. The mobile app, currently in alpha testing, will feature a natively embedded wallet automatically created for the user, as well as highly requested music-specific features, significantly easing the onboarding process for non-crypto music fans.
DRiP has already established a strong foundation in the music vertical, including onboarding both web3 and mainstream artists, such as Jason Derulo and Waka Flocka Flame. DRiP also plans to expand the types of content and experiences available to creators, including news, video, and podcasts on the platform. These will be directly accessible in the app and can also be viewed in compatible wallets like Phantom.
Vault Music, known for its unique rare music DSP model, allows artists to create exclusive, limited-edition music releases. Co-founded by the creators of FanDuel, Vault Music’s format hyper-rewards top fans and creates a new revenue stream for artists. Music releases on Vault Music are limited — the artist decides the price and scarcity — allowing only a few fans to access each release. Fans can choose to hold their collection or resell it on the Vault Music secondary market. Unlike secondary markets for physical vinyl, which don’t benefit artists, Vault Music artists receive royalties every time a music release is resold, creating a perpetual revenue stream.
For more information, please contact:
Kara Burney
kara@vault.fan
210-912-2475
About DRiP
DRiP is the leading creator platform on the Solana blockchain that allows artists and creators to distribute digital works, such as art and music, to their followers. With a focus on mainstream-friendly user experience, DRiP is expanding the types of content and experiences available to creators, including news, video, and podcasts.
About Vault Music
Vault Music is a groundbreaking music platform that allows artists to create exclusive, limited-edition music releases. Co-founded by the creators of FanDuel, Vault Music provides a unique format that rewards top fans and creates new revenue streams for artists, ensuring artists benefit from every resold release.
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SOURCE Vault Music
