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May 22, 2019 6:20 AM ET

Songs Recorded By Beyoncé And The Weeknd Sell Out Royalty Interests On Vezt, The World's First Blockchain Music Rights App

iCrowd Newswire - May 22, 2019

Vezt, the world’s first blockchain-based music IP app, saw royalty interests for “I Been On,” as recorded by Beyoncé and “Can’t Feel My Face,” as recorded by The Weeknd, sell faster than any others in the app’s history.

Vezt’s Initial Song Offering® process allows music fans to provide songwriters, artists, producers, labels and publishers with an advance in return for the right to receive fractional royalty payments over time. 

On May 6th, Vezt launched an ISO for the song “I Been On” as recorded by Beyoncé, a title which was recently released on HΘMΣCΘMING: THE LIVE ALBUM. The first few hours of the launch saw users put more than $25,000 toward the ISO, contributing from $5 – $10,000 each, to complete the rights holder’s fundraising goal of $50,000 by the end of the week. 

On May 15th, an ISO for the song “Can’t Feel My Face” as recorded by The Weeknd raised $20,000 in just under 12 hours. With a steady uptick in success stories like these, the platform is quickly earning a name as the new fundraising method accessible to the music industry at-large. The platform also regularly sees ISOs for songs by independent artists sell out within one day.

Headquartered in Los Angeles, with a second office in Seoul, Vezt is rolling out a number of hit song ISOs this summer, continuing to raise interest in the music rights marketplace on a global level. Their mobile app is available on iOS and Android. 

About Vezt Inc.

Vezt™ (www.vezt.co) is the first blockchain-based mobile app where music fans can acquire a royalty interest in their favorite songs and recordings. Founded in 2016, the company is headquartered in Los Angeles, California, and has completed more than 12,000 music rights transactions since the launch of their app last September, and is currently onboarding rights from record labels, publishers, independent artists, writers and producers. The Vezt mobile app is available on iOS and Android. See the website www.vezt.co and Twitter profile @veztinc for more information.

Note to Editors

Co-Founders Steve Stewart and Robert Menendez are available for interviews. 

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Tags:    Wire, Cryptocurrency Newswire, United States, English