SoundMoney CEO Benito DeRosario wants to disrupt the music streaming model by creating a platform that enables fans to support their favorite artists directly.
On the sidelines of Paris Blockchain Week, DeRosario spoke to crypto.news about how the current streaming model has failed to properly compensate artists for their music. This is because streaming services often deal with record labels and not artists directly.
DeRosario himself knows the music industry’s problems all too well. As a web3 developer with a background in songwriting, he wants to bring more artists who have been left behind by the industry to a platform that he claims could revolutionize how fans interact with artists and their music.
“So SoundMoney Protocol is a Web3 infrastructure, a financial infrastructure for the music industry. So we provide a way for artists to connect with their fans directly,” he said.
Unlike Spotify, where most revenue goes to record labels and artists get delayed or uncertain payouts. SoundMoney uses blockchain technology to provide transparent and direct compensation. This decentralized model cuts out the need for expensive audits because everything is publicly verifiable on the blockchain.
At the time, SoundMoney.social is still in its pre-launch phase, but DeRosario aims to put out their main token, BEZY, by April 28 and have it be available for the public. According to the tokenomics, BEZY will have a maximum token supply of 27 billion tokens and will initially be available for trading on Ethereum and REZO.
“It should be easy, which is the name of our token. It’s called BEZY, because it just should be easy,” he said.
“We’re partnering with Saga.xyz. They’re a layer1 blockchain company that allows us to basically have our own blockchain. So we have our own blockchain with Saga and they’re integrating liquidity integration layer with Uniswap,” DeRosario continued.
The platform itself, SoundMoney.social, will be built using what DeRosario calls a “Web 2.5” approach that bridges the gap between a traditional user-friendly interface and decentralized technology. It offers artists the chance to directly engage with fans by creating their own “platform within the platform.”
According to the co-founder, artists will be able to upload music, manage metadata, and launch their own fan tokens to reward superfans through ticketing, exclusive content, and sync licensing. With a focus on underserved musicians and transparency, SoundMoney.social aims to create a fairer, more participatory music economy.
“We feel like art and artists have been washed out in favor of digital, and we’re trying to bring that real-life connection back,” said DeRosario.
