360X Music AG, in cooperation with the German collecting association GEMA, issues regulated security tokens for music royalties.
360X Music AG and GEMA issue security tokens governed by royalties from music authors. Security tokens are digital assets that comply with applicable security regulations.
The tokens contain royalties collected by GEMA from film soundtrack composer Hans Günter Wagener. Wagener’s works are popular in Germany and often appear in film and television. The offer is exclusive to the German market.
The tokens will be traded on the BaFin-regulated 360X market. The digital platform hosts blockchain-based security tokens for alternative asset classes including music, art and real estate.
The release allows investors to commit to music royalties and indirectly participate in music rights. It enables alternative funding models for music industry stakeholders while maintaining control for rights holders.
Music industry meets web3
360X Music AG and its twelve x twelve subsidiary are members of the 360X Music Group.
Twelve x twelve is a blockchain-powered community platform for web3 campaigns and metaverse events, where music is converted into non-fungible tokens (NFTs). He has launched web3 campaigns for artists such as Haftbefehl, Portrait XO and Till Lindemann.
“We enable the music industry to access new markets on web3,” explains Jan Denecke, CEO of 360X Music AG.
“In the future,” he continues, “investors will be able to invest directly in artists, authors or publishers and participate in their success.
“Our goal is to enable fans and investors to safely invest in the music they love. This way they can also participate in the success of their favorite artists”.
GEMA CEO Harald Heker adds: “Security tokens offer rights owners and music creators opportunities to enforce their copyrights and access new sources of funding.”
“Security tokens have the potential to change the music market from the ground up,” he continues.
Carlo Kölzer, CEO of 360X, confirms this: “The last months have clearly shown us how important regulated and therefore reliable markets are. 360X sets a new standard for alternative asset investments.