Coop Records

Hardest part of working in music is managing splits across so many various parties.

- Artist
- Collaborators
- Labels 
- Managers

My whole thesis for onchain music is that automated splits make this way simpler once programmed but actually getting them set up is still a nightmare.

Long ways to go!

Onchain is the new online - FID 206 -  cooprecords.xyz

Gonna need to take 15% of that 20% and then split that 50/50 usdc / eth sir

I'm sure you'll figure that out until then just enjoy the struggle.

Memes

Oh it must be hard, yet definitely “simplified” for web3.

I know there was a nice and not to complicated tool that @nonlinear.eth is using for /memes 

Can’t remember the name tho sorry🥲

You should try adding song metadata  and artists metadata for multiple songs on an album

it really does especially for publishing, it'd be a dream !!

splits.org

active at /splits, come say hi 

/ted | exploring the onchain frontier | surfing @ venice, ca | eating @ gjusta / gjelina

Yes we’ve probably deployed close to 400 splits at this point and this is the part that gives me sanity but it’s not that simple.

We have to make new wallets for every collaborator that’s not currently onchain to put an address on a split and then later get them access to that wallet (most have never met us before) and show them how to cash out.

Huge barrier in understanding what ETH is and how to off-ramp to Coinbase and then how to sell from there.

We have Beam set up to off-ramp direct to a bank account for a few of our artists but safe to say there’s still a ton of work that needs to be done to make this all fluid.

Honestly making new wallets for collaborators and stakeholders who have never touched crypto and have no intention to.

Lots of mental math to get the splits dialed and lots of approval needed to make sure everyone’s on the same page.

Basically just a ton of manual labor to get everything squared away to the point where everyone is earning only for no one to really make that much cause it’s split so many different directions. 

Gonna DM you to see how we can improve our process here!

What's a nightmare about setting them up?

Please include Songwriters specifically in this mental model. Many songwriters are artists but many don’t perform at all.

Isn't the hardest part marketing / promotion and having people buy the releases ?

who handles monetizing rights to something for the party? If I create a voice people want to use I wouldnt want to deal with that afterwards but its also just a file that's freely available onvhain 

Managers and labels sound like the same thing to me

It’s really hectic tbh 
A friend of mine is a producer and he tried explaining how this works to me 
And I actually got so confused

Man, it’s so complicated
How about producers ?
How about media houses ?
The list goes on and on, and the solution still isn’t straightforward nor forthcoming 🤔

I wonder how they do the splitting to be honest, cause I know musicians generate a large amount of money

Automated splits are the future, but getting there is a whole different song, Rome wasn’t built in a day so 1% better everyday isn’t bad

Managing splits in the music industry sounds like trying to conduct an orchestra with everyone playing a different tune, haha! 
But yeah, Keep at it Coop, Every great concert starts with a bit of chaos

This would also reduce disputes, day by day the idea of “onchain” just makes so much more sense. Onchain is the future