SINGAPORE--(BUSINESS WIRE)--FENIX (https://www.fenix.cash/), the company empowering independent artists to reach fans directly, announces the launch of its blockchain-based platform, as well as the initial listing of its utility token, FENIX Token, on sky.io. Artists everywhere, both aspiring and established, can now build their own band app through the platform in just 20 minutes, and fans can reward artists they support with FENIX Tokens.
The music industry is notoriously hard to crack. It’s why parents scoff at murmurs from their kids about pursuing a career in music, and it’s why so many starving artists try their luck at small-time dives while struggling through conventional jobs. Approximately 91 percent of artists go undiscovered and, according to a Citigroup report, artists that do succeed only take home about 12 percent of the money the music industry makes. FENIX’s platform leverages blockchain technology to rebalance music-industry dynamics in the favor of independent artists and fans, giving every artist a fair shot and a minimum of 80 percent of the hard-earned proceeds from their music.
FENIX’s utility ecosystem offers artists control of their online presence in the form of their own band app, complete with a comprehensive 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 FENIX’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. FENIX’s platform is open to retail investors outside of the U.S. and China, as well as accredited institutional investors in the U.S.
“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. As far as we are concerned, this just constitutes a modest start.”
“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 FENIX 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.”
Founded in 2018, FENIX is a utility ecosystem empowering independent artists to reach fans directly on a single platform, without the need for intermediaries or record labels. 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. FENIX gives every artist 80 percent of the proceeds they generate on the app through FENIX tokens and advertising.