The Blockchain Revolution That Could Ruin Spotify’s Day

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Benito DeRosario, CEO of SoundMoney, has big dreams. And by “big,” we mean a disruption of the music streaming model so massive that Spotify might want to start hiring security. His aim? To create a platform that enables fans to throw some cash directly at their favorite artists, cutting out those middlemen who never seem to be short on cash.

At the prestigious Paris Blockchain Week (yes, it’s a thing), DeRosario spoke to crypto.news, lamenting how current streaming services fail to deliver fair compensation to artists. Oh, and by the way, they’re also too busy courting record labels to bother with the musicians who actually create the music. Shocking, I know.

DeRosario, the man who’s practically living the Web3 dream, understands these problems all too well. With a past in songwriting and a present as a Web3 developer, he’s poised to give the finger to the system that left countless artists in the dust. His plan? A platform where fans can truly connect with and support artists. No labels, no bureaucracy, just music and the people who create it. Revolutionary, right? Or is it just good old common sense with a fancy blockchain twist?

“So SoundMoney Protocol is a Web3 infrastructure, a financial infrastructure for the music industry. So we provide a way for artists to connect with their fans directly,” he said. Simple enough, huh?

Unlike Spotify, where the money trickles down to artists after it first swims through a series of record labels and sometimes questionable business practices, SoundMoney offers something more transparent. Blockchain technology, people! Gone are the days of waiting for uncertain payouts. Everything is public. No more expensive audits. Everything’s verified. It’s like a dream come true—unless you’re a record exec, of course.

Currently, SoundMoney.social is in its pre-launch phase, but don’t worry, they’ll be ready to launch their shiny new token, BEZY, on April 28. According to DeRosario, it will be the easiest thing in the world to use. Well, not *literally* the easiest, but you get the idea.

“It should be easy, which is the name of our token. It’s called BEZY, because it just should be easy,” he said. Marketing genius, right?

“We’re partnering with Saga.xyz. They’re a layer1 blockchain company that allows us to basically have our own blockchain. So we have our own blockchain with Saga and they’re integrating liquidity integration layer with Uniswap,” DeRosario continued. It’s like a musical blockchain party, and everyone’s invited.

SoundMoney.social will run on what DeRosario affectionately calls a “Web 2.5” approach. It’s not quite Web 2.0 but it’s certainly not Web3 in all its complicated glory. This hybrid approach, according to him, bridges the gap between the good ol’ days of user-friendly interfaces and the brave new world of decentralized technology. It’s for the artist, it’s for the fan, and it’s for people who just want to be part of a fairer music ecosystem.

Artists will be able to upload music, manage metadata, and even launch their own fan tokens. Yes, you heard that right: FAN TOKENS. This way, superfans can get rewarded with tickets, exclusive content, and sync licensing. All of this sounds like a perfect way to keep the artistic spirit alive and well in a world that sometimes forgets it in favor of more “efficient” methods.

“We feel like art and artists have been washed out in favor of digital, and we’re trying to bring that real-life connection back,” said DeRosario. It’s almost like he’s got a heart or something.

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2025-04-16 17:34