Soba Platform

Decentralized Platform For Music and Video NFTs

The Soba Platform

Why Soba?

Intermediated Industry

Music industry is a very fragmented and intermediated industry built on partnerships between the creator’s side (songwriters, recording artists and producers), the customer-facing side (including streaming services such as Spotify, Apple Music, YouTube or Pandora) and the business side, which connects the other two (like publishers and record labels).

Having so many players and complex interconnections lead to a complete lack of transparency, especially to the artists themselves. As a result, things don’t always go smoothly: information and money might not be fairly shared.

Unfair Revenue Model

Moreover, the current revenue share model in the streaming music industry is unfair to all musicians and particularly detrimental to independent and aspiring musicians. Most of the revenue goes towards paying the intermediaries, and musicians are almost always left out of these discussions.

This results in a royalty distribution scheme that heavily favors intermediaries, at the expense of the musicians, ultimately undervaluing the musician’s work and revenue.

Music Market Monopoly

Today, about 88.5% of the global music industry is largely dominated by three multinational record labels; Universal Music Group, Sony Music Entertainment, and Warner Music Group. Because of such market monopoly, they are in a position to dictate market rules that are most favorable to them.

They often enforce unfair contracts in negotiations with streaming services, receive large advances and bargain for minimum payment and ownership positions under non-disclosure agreements.

Efficient Market Model

Ecosystem

Soba Marketplace

Soba Jukebox

Soba Video Player

advantages

Soba Features

Soba Music Subscription

Soba users will have easy monthly subscription options which will grant them a fixed number of SOBA tokens for their use in consuming music through the pay-per-play model.

Soba Exclusive Concert

The exclusive tickets will be given to the winner of the concert ticket draw among NFTs holders. Different types of NFTs created will not only serve as an unique collectable for fans, but exclusive ticket for favorite artists’ concerts.

Soba Donation

In the event where fans would like to show their strong support for their favourite artists, they can also opt to donate in SOBA tokens to their favourite artists which will be entirely received by their artists without any fees levied by us.