L3COS, the world’s first regulated blockchain-based operating system, today announced a new partnership with ENT Global Technologies, formed by Carmen Murray and Michael Michel of US-based full-service music label and entertainment company TITLE 9 Inc. The $110M deal will see L3COS create a global digital rights management and marketplace for the music and film, ultimately bringing artists and fans closer together.
All artists and content creators using the platform will have the opportunity to manage the copyrights of their assets and register their music and creative properties as both NFTs (non-fungible tokens), and other intellectual property-based digital derivatives. In short, fans and consumers only pay for what they use, knowing they’re directly benefitting the creator.
Digital rights management (DRM) is a method of copyright protection for digital media, where technologies are employed to limit the duplication and unlicensed use of copyrighted works and proprietary software. Its main benefit is that it enables authors to have control over what paying users can do with their work. For businesses, implementing digital rights management systems can help to prevent users from accessing, using or distributing assets, allowing the organization to avoid legal issues that may arise from unauthorized use.
NFTs are unique blockchain-based assets that can act as digital certificates of authentication – enabling people to prove ownership of an item, such as a specific piece of music or art. Registering assets poses a huge opportunity for artists and entrepreneurs with an independent approach, providing them with the chance to preserve their equity in copyright, unlike the current system that undervalues them, as well as creating new revenue streams through registration of any intellectual property they have.
For consumers, the ability to purchase an asset that is exclusive or limited and has potential extra offerings attached to it – for example, meeting their music idol! This coupled with a possible increase in the value of the asset, due to its scarcity, makes it even more appealing.
According to IFPI, the organization that represents the recorded music industry worldwide, the global recorded music market grew by 7.4% to $21.6 billion in 2020 for the sixth consecutive year. Additionally, a report published by PWC stated that the global media and entertainment industry dropped by more than $120 billion in 2020, amid the global recession, but is forecasted to grow by 6.4% this year. These figures are promising for both businesses and individuals wanting to monetize while having full control of their assets.
Zurab Ashvil, CEO, L3COS commented:
“We’re excited to be partnering with ENT Global on this digital rights management and marketplace deal. With this partnership we’ll be creating fully automated digital ecosystem that empowers artists and creators, and that brings transparency to the music and film industry.”
“Artists and creators will have the ability to better manage, control and properly value their work, opening up ways for new revenue streams. ENT Global has exciting plans to use our L3COS software which we’re hoping to launch in Q1 2022 to help creators gain more value from their music and content while having full control of their intellectual property.”
Carmen Murray and Michael Michel, Co-Founders, ENT Global Technologies added:
“We are thrilled to take this important step into what we believe is the future of entertainment – digitalization via blockchain technology. Using the transparent nature of blockchain, we will create an open marketplace for the entertainment industry, including music, TV and Film as a trustless environment where creators, musicians, artists, and rights owners can have full control to automate all their existing and future digital assets, providing a variety of options to any consumer globally on one platform using distributed ledger technology (DTL).”
“We believe L3COS have created a one of a kind, first to market, regulated and fully automated blockchain operating system, with the ability to process 1.5m transactions per second. This is just the type of robust capability that is needed for a marketplace of this magnitude” added Murray and Michel.
ENDS
About L3COS
Founded by Zurab Ashvil, L3COS, (pronounced ‘Leckoss’) is a blockchain-based operating system bringing the benefits of blockchain to the wider economy. It provides full governmental and regulatory oversight across digital transactions, and is applicable for all businesses, large and small, as well as for individuals. It is the first and inevitable, but essential, step in making the world fully digitalized.
L3COS based operating systems are quantum-safe with the ability to execute transactions and exchanges at the scale and speed necessary to disrupt both existing blockchain and traditional methods. Its technology is immutable, fully auditable, traceable and transparent, all of which makes tracking cross border movements cost effective and efficient.
The operating system facilitates secure, regulated and digitalized activity for countries around the world, as well as the tax and regulatory requirements for sovereign regulated institutions, such as the UK Customs & Excise and US Customs & Border Protection, for corporates and for individuals.
About TITLE 9
TITLE 9 Inc is a full-service management, production, music label and entertainment company, with a creative compound and music studios in the US. The company is home to A-list Influencers and winners and nominees of notable M&E honors and awards, in addition to the BMI, SESAC, ASCAP, Emmys, and multiple Grammys. TITLE 9 has formed strategic alliances and joint ventures with: Artists First (a TV/ film management and production company) and Universal Music Publishing Group (UMPG); an A&R deal with Def Jam Recordings; and distribution deals with companies such as Roc Nation, Republic Records, Epic, SRC, Motown, and BMG, to name only a few.
The company’s roster includes music producers, musicians, recording artists, executive producers, songwriters, screenwriters, and composers. TITLE 9’s current musical roster includes rapper Kash Doll (“Ice Me Out,” “For Everyone,” “Ready Set” feat. Big Sean); Andre “Dre” Harris (the multi-platinum winning producer for Lady Gaga and Alicia Keys, among many others); Ambré (the Grammy Award- winning singer, songwriter and producer, best known for her work with artists H.E.R. and Kehlani); recording artists Amanda Reifer; Jay Ulloa; Jada Nikole; musician and producer Jerry Wonda (The Fugees, Miguel, Whitney Houston, Beyoncé, Shakira, Santana, score credit for Dave Chappelle’s Block Party, The Manchurian Candidate, 50 First Dates); singer/songwriter and rapper Derrick Milano (Nicki Minaj, NBA 2K, NAS, Megan Thee Stallion); musician, producer, and executive Stanley Brown (Run DMC, The Temptations, Dru Hill, T.D. Jakes, Karen Clark Sheard); musician and producer DK Benjamin (Jon B, JLS); and critically acclaimed songwriter, artist, producer Jeymes Samuel aka The Bullitts, who has produced Jay Electronica, Tory Amos, Estelle, Mr. Hudson, and has served as executive music supervisor for The Great Gatsby along with Jay Z. Currently composing the score, as well as writing and producing all the music for his highly anticipated feature film, The Harder They Fall, to be released on Netflix later this year.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210420005109/en/