The music platform NEWM aims to facilitate everything that the community needs - from marketplace to royalty collection. Music artists are empowered by NEWM, giving them the opportunity to both, distribute their music to major streaming platforms, as well as fractionalize IP rights. NEWM is a project with a team of people with professional experience gained in companies like Nike, Deloitte or Venture Capitalist firms.
Tiziana Pittini, Chief Product Officer and Florian Sorg, co-CEO at NEWM shared some interesting thoughts with us, so let's take a look at how they are making their ideas happen.
NMKR: What inspired you to start developing NEWM? Please tell us what makes it so special.
Tiziana & Florian: In general, we wanted to level the playing field for musicians to make the world more equal and fair for all market participants. It happened quite naturally that we wanted to reduce friction in this gigantic industry, and though it seems like a huge undertaking, we believe it’s worth approaching because friction means inefficiency and the blockchain is a great tool to reduce inefficiencies.
What’s special about NEWM is that we are connecting musicians directly with their fans while simultaneously giving the fans the power to earn royalties by listening to their beloved music – or as we like to call it – “listen to earn”.
To achieve this, we are building all the tools and processes internally from the ground up, so that musicians have essentially a one-stop-shop solution for everything from music distribution, to minting & fractionalization, to selling future streaming revenue to their fans, as well as royalty distribution. A well rounded and convenient platform – this is what we are aiming for!
NMKR: What are the major challenges you're facing right now?
Tiziana & Florian: The majority of the challenges we’re facing are all connected with limited resources. Of course there are a lot of smaller obstacles since we are building a whole ecosystem, but so far we have managed to overcome them by staying focused on our vision and main goals.
The next phase for us is to raise a bigger round of funding and bring all of the team members onboard full-time which will solve our biggest hurdle instantly. Many people don´t know but the majority of our team is working part-time on top of their full-time occupations. NEWM is a passion project for all of our team; they’re investing their spare time into our project because they all want to make a change. Thanks to their commitment we are actually on a good path to achieve our vision.
NMKR: What are you doing to get people to use or invest in your project?
Tiziana & Florian: We’re financing our operation primarily through our stakepools, NEWM & NEWMX. We greatly encourage anyone interested in investing in or actively supporting to become a delegate to one or both of our pools – full details on how this works can be found at https://newm.io/stakepool/.
Additionally, we are always on the lookout for exceptional talent to support our mission so keep an out for job postings. We depend on each individual team member's motivation and conviction to make this world more fair, and we’re taking this one step at a time. As mentioned, we’re aiming to bring in everyone full-time as soon as possible; after that we have to evaluate what is missing from our team and add the right people with the best value fit.
Finally, for all accredited investors out there, we have started to actively raise funds – if someone wants to reach out, please feel free to send us a message at firstname.lastname@example.org.
NMKR: What do you think about NMKR? Tell us what we can do for you in the long run so we both win!
Tiziana & Florian: We love what you guys are doing. Building a tool kit to enable crypto startups to reduce time to market is an awesome idea that is highly-needed to ensure mass adoption of blockchain technology. Since we have been in discussions previously, we can’t disclose anything right now, but let’s see what the future holds.
NMKR: What's your vision for the future of blockchain/decentralized technologies like Cardano? Please tell us what you're doing to make that future a reality.
Tiziana & Florian: We all know that freedom of choice is the ultimate goal for the society we are living in and this is exactly what we are working on at NEWM. We believe that the artist should have the freedom to choose whether they want to release their music with a label, or opt out of the old system and use the NEWM ecosystem for their music, or even pursue both paths at the same time. This is the real power of having a choice!
The fans should have this kind of choice as well – our ecosystem will make it possible to utilize both non-custodial and custodial wallets, making it as easy as possible to buy and trade on our platform.
We envision a future where the blockchain is utilized to its full potential and recognized and accepted by the masses as an extremely versatile technology for building applications that add value to our society!
NMKR: If our readers would like to know more about you, how can they get in touch with you?
Tiziana & Florian: We always recommend checking out our website, www.newm.io, and following us on Twitter @projectNEWM, as well as joining our discord https://discord.com/invite/z4sYqxqgvQ.
We also have a newsletter for everyone interested in receiving the latest NEWM updates directly to their inbox https://newm.io/newsletter. Lastly, we have additional channels like Telegram https://t.me/NEWMofficial and LinkedIn https://www.linkedin.com/company/projectnewm/.
For the full breakdown on what we’re building at NEWM and our future roadmap, check out our whitepaper https://newm.io/whitepaper/.
NMKR: Thank you for sharing your story with us Tiziana & Florian. We have full faith in NEWM and your team to continue innovating in the music industry for the better. Giving power back to creatives and challenging management practices in centralized enterprises is a cause we can all get behind.
At NMKR we are taking initiatives to give power back to the people in the form of data and opportunities. We hope that more and more people will follow your lead to build for a decentralized future.