Idea Design Network

“many musicians have used non-fungible tokens (NFT) to connect with their fans, MODA DAO is using the digital tokens as a governance tool for artists and their managers to control royalty contracts….

Revenue earned from songs published on the DAO’s platform is split three ways among the artists, the rewards pool and a token buyback program. MODA DAO told CoinDesk that it’s also working toward creating a decentralized finance-type lending program where artists can stake their NFTs to earn additional rewards.

MODA DAO also gives token holders access to in-house blockchain products such as its new “audio fingerprinting” technology, which allows artists to mint and sell raw audio files of songs as NFTs before the songs have been approved to be published on platforms like Apple Music and Spotify.”

DAO Backed by Deadmau5 to Launch on Multiple Platforms The initiative is aiming to bring NFT governance to the music industry.