Amplify Builds On Hedera To Bring 100,000 Musicians Closer To Superfans 

‍Web3 music platform helps artists tap into $4.2B Addressable Market

Amplify, an all-in-one platform that helps artists market their music and connect to their superfans, is bringing 100,000 artists, their millions of fans, 34,000 email subscribers, and 2,500+ Discord community to Hedera as it transitions from Web2 to Web3. 

Founded by Irfon Watkins (DOVU.Earth) and rock star Ian Matthews (KASABIAN), Amplify is aiming to redefine the music economy by creating sustainable income avenues for artists.

The strategic decision to evolve into a Web3 platform is rooted in their foundational belief that value in the music industry should flow to those who most deserve it: the creators, their loyal teams, and passionate superfans. 

Currently, sustainable earning and financial security within the music industry is only accessible to a small percentage of artists and music streaming only provides a living wage for the top 5% of artists. Compounding the problem is that Web2 giants (digital streaming platforms, social media platforms etc.) extract value because, ultimately, they platforms own fan relationships – not the artists. 

But according to Universal Music Group, connecting artists and ‘superfans’  represent a $4.2 billion “total addressable market that is currently untapped.” 

In general, Web3 allows artists to access this untapped market by enabling direct ownership of both fan and sponsor relationships, creating net-new opportunities for value exchange. 

Building on Hedera delivers a level of customizable functionality that enables Amplify to create solutions that directly solve problems at the core of their mission. 

For example, one of their primary reasons for choosing Hedera is that users can set a custom royalty fee that is honored for all secondary sales when minting an NFT on the network.

Additionally, the ability to set a fallback fee that’s charged when an NFT is transferred without exchanged value is also a critical element of Amplify’s vision, which also encompasses the following elements:

AMPLIFY PLATFORM HIGHLIGHTS

• Superfan Engagement: Utilizing Web3 and AI, Amplify enables artists to create token-gated experiences, offering unique, exclusive interactions to their top fans.
• Gamified Music Journey: Our innovative platform introduces a gamified approach to music, deepening fan loyalty and community spirit through interactive experiences.
• Expansive Music Distribution: Amplify broadens artists' horizons, offering advanced distribution channels to amplify their global presence.

AMPLIFY PLATFORM UNIQUE FEATURES

• Create Your Scene: A unique feature where fans and artists build communities based on shared tastes, all powered by a dynamic Web3 token economy.
• Comprehensive Fan CRM: Our platform includes a robust system for artists to manage and nurture their fanbase, personalizing engagement and maximizing fan loyalty.
• Merchandise and Sales Integration: Amplify offers a one-stop solution for both digital and physical music sales, along with merchandise, diversifying artists' revenue streams.

There’a a lot to be excited about when it comes to Amplify’s goals to bring greater equity to the music industry and attention to the Hedera network and to celebrate, their launching a commemorative NFT collection that’s packed with some great perks for artists and fans. 

The 'Access All Areas' Genesis NFT collection mints on December 7 and consists of 250 Genesis AAA Artist Pass ($50) and 1,000 Genesis AAA Fan Pass ($30). Both versions entitle holders to exclusive content, IRL experiences, artist access, and a host of further benefits including but not limited to:

• VIP Access To All Events
• Staking Preferences 
• Preferential Access To Artist NFT Collections
• Artist Meet And Greets
• Amplify Merch Access

We’re not the only ones excited about what Amplify brings to our ecosystem, here’s what leaders at fellow grantees Mynt and Calaxy had to say: 

"The team at Mynt are excited to be a partner of Amplify and welcome their team into the Hedera ecosystem. We share their mission for artists to be able to engage and reward their 100 true Super Fans." - Adam Smith Co-founder of Mynt

“The Calaxy team is a proud partner of Amplify and couldn’t be more excited to play a small role in Amplify’s commitment to getting creators paid by providing an evolved wallet solution that infinitely expands the possibilities of creator-fan relationships.” Solo Ceesay, CEO of Calaxy.

Stay updated on Amplify’s journey - including the upcoming Genesis NFT mint on December 7 - by following them on Twitter and joining their Discord community.