Making music is expensive, especially in the post-CD era. This is why so many people are looking for new ways to monetize music and to create new revenue streams.
VEZT is rather clever. Co-founded by Steve Stewart, the former manager of Stone Temple Pilots, VEZT is an intellectual property rights marketplace that lets music fans buy rights in their favorite songs. In other words, if one of your favourite singers/bands offers up a new track, you can actually purchase a piece of it that comes with any royalties the song may earn. You’ll be paid case pro-rated to the percentage of the song you own. (Listen to our Geeks&Beats interview with Steve here.)
The company just released this new video explaining how it works.
VEZT just announced more names to its advisory board. Impressive.
- Marc Geiger, Head of Music, William Morris/Endeavor Agency; Co-Founder, Lollapalooza
- Tom DeSavia, Former SVP ASCAP, SONGS Music Publishing
- Goodwin Gaw, Chairman of Gaw Capital Partners
- Jim Guerinot, Manager, The Offspring; Owner, Rebel Waltz, Inc.
- Polo Molina, Manager, Wil.I.Am, Fergie Of Black Eyed Peas
- Steven Nerayoff, Co-Founder Of Ethereum, Lisk, & tZERO
- Jon Pleeter, Head Of Music: ICM Partners
- Jeff Pulver, Co-Founder of Vonage
- Jonathan Teo, Co-founder, Binary Capital
- Peter Paterno, Attorney for Dr. Dre, Metallica
VETZ is currently talking to a number of artists, labels, and publishers and expects to make some announcement very soon.
I am SO in. I can’t wait to try this thing.