FENIX, the startup empowering independent artists to reach fans directly, has launched a blockchain-based platform to help artists to reach their fans as well as sell tickets or raise support.
FENIX, not to be confused with African-focused solar energy firm Fenix International, also launched its utility token, FENIX Token, on sky.io to help crack the music industry where approximately 91 percent of artists go undiscovered or only take home about 12 percent of the money the music industry makes, according to a Citigroup report.
“Nobody has really provided meaningful support to non-famous artists,” says Allan Klepfisz, Chairman & CEO of FENIX. “We are sincerely dedicating ourselves to do so, on multiple fronts- by providing a means of significantly increasing their revenue, by constantly adding effective tools to improve their business, not taking an obscene percentage of their revenues, and giving them total control of how they present themselves.”
Founded in 2018, Singapore-based FENIX empowers independent artists to reach fans directly on a single platform, without the need for intermediaries or record labels. It helps musicians build their own band app through the platform in just 20 minutes, providing fans with a one-stop-shop for songs, concert tickets, merchandise, and interviews.
The platform promises artists 80 percent of the proceeds they generate on the app through FENIX tokens and advertising. Independent artists can also use the platform to reach more fans and control their online presence via the app’s dashboard with full analytics.
The web-based app features everything an artist wants it to, including video and audio music, social media, merchandise, ticketing, and interviews. Fans can navigate through every artist’s app on web or app’s platform and, using FENIX Tokens, purchase artist merchandise and concert tickets, as well as make donations to artists they support. FENIX offers artists direct and instant access to fans, all while enabling them to earn income on ads.
Powered by the Ethereum blockchain, FENIX will have a maximum of 2.79 billion tokens in circulation. To demonstrate its commitment to helping up-and-coming artists thrive, FENIX will offer 180 million tokens as grants to artists in the first two years of their business, in two grant rounds of 90 million tokens each.
“Today, it is harder than ever for artists to earn the money they deserve,” says Lance Ford, Founder and President of FENIX. “Solutions to help artists need new thinking, both literal and lateral. Our blockchain-powered app offers smart and simple functionality, returning to artists control over their music, image, and message. FENIX puts artists in charge, empowering them to communicate directly with their fans.
“Ultimately, it’s the functionality of our app that will be most important to bands and fans, says Richard Lee, Founder and Head of Execution. “Any true platform for artists must serve both, and FENIX does so effectively.”