The Story Foundation, a non-profit foundation for the advancement of global IP blockchain, announced that Aria Protocol (hereinafter referred to as Aria), an IP RWA (real-world asset) project based on the Story blockchain, has acquired partial music copyrights for over 50 songs from global artists, including Blackpink. This acquisition is expected to be an important milestone in financializing global mainstream music IP, including K-pop, on blockchain.
The Story Foundation was established with the goal of creating a transparent ecosystem environment for the Story blockchain and innovating a decentralized IP management system. Story is a blockchain-based P2P intellectual property (IP) network that provides an open marketplace where anyone can register, trade, and issue licenses for IPs by on-chaining IPs. This protects the legal rights of creators in the global IP market worth approximately $61 trillion, including data, scientific discoveries, codes, brands, entertainment, and creative works, while maximizing revenue generation opportunities. Aria is an IP RWA platform based on the Story blockchain that allows anyone to easily own IPs based on real assets and transparently distribute profits.
Through 'Aria Premiere Launch', Aria raised $10.93 million (about 15.7 billion won) and secured partial copyrights to music from representative K-pop artists such as BLACKPINK's 'Yeah Yeah Yeah' and 'Ready For Love', Jisoo's 'FLOWER' and 'All Eyes on Me', and BIGBANG's 'Still Life'. In addition, since January, it has also acquired copyrights from global artists such as Justin Bieber, Katy Perry, Miley Cyrus, and Maroon 5.
The copyright acquired by Aria will be distributed and profit distributed to users who participated in the 'Aria Premier Launch'. Aria Premier Launch is a program designed to tokenize high-quality music IP acquired by Aria on the blockchain and allow investors to share in the profits generated from the copyright. This is expected to be an opportunity for music IP to become a more stable financial asset.
Andrea Muttoni, CEO of Story Foundation, said, “BLACKPINK is an artist with influence not only in Korea but also globally, and the financialization of their music IP will be an important opportunity to expand the blockchain-based copyright market.” He added, “Through this, Story will allow music creators to generate profits in the global music market transparently and efficiently, and will provide investors with a new way to utilize music IP as an investment method.”
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