CYMO sells 5,000 biddz in under 30 minutes for upcoming single ‘Jetlag’
CYMO current single ‘Game Over’
PRE-SAVE ‘Jetlag’ – https://save-it.cc/biddz/Cymo_Jetlag
German producer CYMO today dropped the pre-save link for his hotly anticipated upcoming single Jetlag, coming April 15th. Hype around the house groover is already at fever pitch after a practical feeding-frenzy over the weekend, as fans raced at breakneck speed to get their hands on the single’s available royalties.
CYMO had partnered with new platform biddz to sell partial royalties of Jetlag to the public and was fully prepared to sit back and watch up as up to 5,000 biddz tokens sold steadily over the course of the next few days. However, not even half an hour after hitting launch, the entire collection of biddz had been snapped up by followers eager to become part of the Jetlag action.
Set up by former Head of Amazon Music Germany Michael Höweler and colleague Alexander Franck, biddz harnesses the potential of NFT technology and turns it from a digital playground for the multi-millionaires of the music industry, to a viable tool that also up-and-coming producers can use to fund for future productions. At the same time, it opens the success of favourite artists up to fans, allowing them to come fully on board with the music release process in a way never seen before.
So how did it work?
At 5pm CET on April 1st, fans were able to buy biddz for CYMO’s Jetlag. Each single biddz is one ten-thousandth (or 0.01%) of Jetlag’s master rights royalties generated on digital streaming platforms (Spotify, Amazon Music, Apple Music, YouTube etc) for the duration of the deal set by the artist. Fans were able to buy up to and no more than 1% of the master rights, with 50% of the track in total available. Those who did buy biddz are then given an official digital biddzCard which makes the purchase official and can be shared across social media to help promote the upcoming single release and which can be transferred in any Solana wallet.
When Jetlag is released on Friday April 15th, fans will then start to receive regular royalty payments from the single, the same way anyone with master rights would. The more successful the single is, the more royalties fans receive. biddz owners can track the progress of Jetlag via their online biddz dashboard, keeping an eye on the single’s movement across the DSPs, even jumping on socials to give the single an extra push if they feel it warrants it. It’s a unique, new way of involving the most important people in the music industry – the fans.
biddz is currently open to music artists globally. Fans wishing to buy biddz must currently reside in Germany, with biddz planning to open up applications to other countries imminently.
