NFT Platform UREEQA Announces Music Publishing Administration Services

What Happened: Today the IP protection company UREEQA announced that they will be moving into music publishing administration. The move is not altogether surprising because it is already working to protect the IP of creative people. It will provide somewhat similar services to songwriters, composers and other musical artists who want an easy way to collect royalties from rights management companies. UREEQA is also going to start investing in emerging artists that use their platform, making it a great opportunity for newer musicians. Some of the profits from these investments will go to their new Emerging Creator Hedge Fund. A portion will also go directly to UREEQA token holders. 

Why it Matters: Hopefully, UREEQA’s move into music publishing administration is only the beginning of a larger move to blockchain-based companies. The music industry is famous for treating artists terribly and porting the most important services to a free and open blockchain might solve some of these issues. UREEQA is still a relatively new and small company, but it seems like it could be a vital pioneer. If you are a musician or make any creative work that you want to protect and profit off of, UREEQA may be a great choice for you. 

How it Works: UREEQA is an innovative platform focused on securing ownership, monetization and protection of their creative works. All users need to do is sign up for the platform and upload their work. It is added to the Ethereum blockchain and given a timestamp to prove when it was created. If the user wants further protection for their art, they can join the UREEQA Premium Protected Collection. They would then upload their work to this collection and validators on the network would work to validate 2 main things.

Validators check when the creation was first made and they make sure that it was the user's unique work. The platform offers a mechanism for users to find and possibly remove or at least profit from unauthorized use of their creation. Another kind of UREEQA network participant, called a Protector, builds proof of copyright infringement to make it easy to collect payments and send demand letters.