We’re thrilled to announce Polytrade’s step into tokenized Intellectual Property! Through our latest partnership with Anotherblock, Polytrade will assume responsibility for royalty distribution of iconic tracks like “Acquainted” by The Weeknd, “Company” by Justin Bieber, and “BBHMM” by Rihanna.
This strategic move strengthens Polytrade’s position as a leader in the RWA space, expanding our portfolio into IP and music rights, alongside the recent $80M funding trend seen in the IP landscape with initiatives like Story Protocol.
Let’s dive into how this partnership will work, what it means for the existing Anotherblock community and Polytrade community, and how you can take advantage of these new opportunities in tokenized music rights.
Key Points
- The partnership between Anotherblock and Polytrade now makes Polytrade responsible for royalty distribution, but rightsholders remain the ultimate counterparties of NFT holders.
- As a Collection Partner, Anotherblock will continue to collect payments from rightsholders and pass them to Polytrade.
- Not all historical NFTs have paid out royalties, and while Anotherblock has covered some from their own funds, Polytrade does not plan to continue this practice. Full transparency on historical payouts on each NFT can be found on their respective pages, navigate here.
Which tracks have historically experienced issues with timely royalty payments?
- Acquainted
- Alone
- This is Why I’m Hot
- Weekend on a Tuesday
Transition Details
- The transition shall be facilitated by replacing the current NFTs via an airdrop with new NFTs on the Base network. These were conducted by Anotherblock on the 23rd of September, please see more details here –
https://anotherblock.com/articles/rwa-platform-polytrade-becomes-the-new-royalty-distributor-partner
- A dedicated NFT-gated channel will be available for music NFT holders on Polytrade’s Discord to keep the community informed and engaged. Join us here: https://discord.gg/DsC2jSfNxm
Embracing the Power of Rights and IP in the RWA Ecosystem
IP is a multi-billion dollar asset class that still remains held back by traditional practices. Although access to music, film, shows, UGC and creator content has exploded massively, the underlying legal and finance structures have not evolved, holding back all parties involved from creators, fans, artists, rightsholders, producers, distributors, and platforms.
At Polytrade, we believe the blockchain will revolutionize both the underlying asset and royalty flows, democratizing the asset class for a whole new generation of creators, artists, investors, fans, and right holders.
This new partnership with Anotherblock marks a significant step forward as we expand into the tokenized IP and royalties, starting with the music industry, taking on the responsibility of distributing royalties for an impressive catalog of tracks. This collaboration not only diversifies our RWA portfolio but also positions us as a key player in the innovative space of intellectual property (IP) management solutions.
Music rights bring unique value to the RWA ecosystem. Unlike traditional assets, music royalties generate continuous income, often lasting for decades, while holding emotional and cultural significance.
Users can own a piece of their favorite songs and potentially benefit from the long-term success of renowned artists, including The Weeknd, Justin Bieber, Rihanna, Alan Walker, Martin Garrix, BTS, and many more.
Benefits for the Polytrade Community
Our partnership with Anotherblock is set to create a lot of new opportunities for our Polytrade community, opening doors to experiences and investments that were previously out of reach. Here are the key benefits:
- Diverse Investment Options: Our members will gain access to a wider range of tokenized assets, including music royalties from some of their favorite tracks.
- Seamless Transition: Current NFT holders will receive new NFTs on the Base network via airdrop, ensuring a smooth transition to the new system. Down below, we’ll explain the process in more detail so you know exactly what to expect.
- Community Growth: We’re excited to welcome the Anotherblock community to the Polytrade family! This integration will enrich our vibrant user base with fresh perspectives and diverse interests, creating a more dynamic environment for everyone.
- Enhanced Liquidity: By bringing music rights onto the blockchain, we’re increasing the liquidity of these assets, making it easier for investors to buy, sell, and trade their holdings.
- New Revenue Stream: As distributor, Polytrade will generate a fee on each distribution in perpetuity. This will be a new, independent revenue stream to the existing trading fee model on the marketplace and will bolster Polytrade’s robust business model further with diversification and deterministic cash flows.
The New Royalty Distribution Mechanism
Polytrade will now take on the role of counterparty in NFT Service Agreements, assuming responsibility for distributing royalties to NFT holders. Here’s how it works:
- Anotherblock will maintain its essential role as the collection agent, gathering royalty payments from rightsholders and passing these payments on to Polytrade for distribution.
- As the new distributor, Polytrade will take on the responsibility of managing royalty distributions to NFT holders and the community.
- While Polytrade will handle the distribution, it’s important to note that the ultimate obligation to pay out royalties remains with the rightsholders.
This new mechanism ensures a more streamlined and transparent process for royalty distribution.
Ensuring a smooth transition with Base
To facilitate this transition, Anotherblock shall be airdropping new replacement NFTs to all holders on the Base network, an Ethereum Layer 2 solution that enables faster and cheaper transfers of ERC-20 tokens. This means that current NFT holders will receive new NFTs on Base through an airdrop, ensuring continuity of ownership and enhanced functionality.
For current Anotherblock NFT holders, Anotherblock provided detailed instructions on the airdrop process and how to access your new NFTs on the Base network. See more details here
Looking Ahead: The Future of Tokenized IP and Its Impact on the Music Industry
This partnership comes at an opportune time in the world of tokenized intellectual property (IP) and rights. With recent developments like Story Protocol’s $80M fundraising and Pressman Film’s partnership with Republic, the sector is gaining momentum, and Polytrade is well-positioned in this evolving landscape. By expanding into music rights and IP, we’re not just growing our portfolio—we’re opening new doors for artists, rightsholders, and investors alike. This move aligns with our mission to push the boundaries of decentralized asset management and create more opportunities for our community.
Our entry into the music rights space isn’t just about investment opportunities; it’s about reimagining how the music industry operates.
Details of the NFTs
| # | Title | Artist | Selling Company (“Rightholders”) |
| 1 | Weekend On A Tuesday | R3HAB, Laidback Luke | MixMash Records B.V, FEG MPC DWC LLC, Anoki Music Aps, 2ndFloor Aps |
| 2 | Acquainted | The Weeknd | Pure Music Group LLC |
| 3 | Alone, Pt. II | Alan Walker, Ava Max | The Very Good AB |
| 4 | Ric Flair Drip | Offset, Metro Boomin | Bijan Amirkhani LLC |
| 5 | So Far Away | Martin Garrix, David Guetta, Jamie Scott, Romy Dya | Romy Dya |
| 6 | Company | Justin Bieber | Axident Productions LLC |
| 7 | This Is Why I’m Hot | MiMS | Shawn Mims Enterprise LLC, The Blackout Music corp, Pure Music Group LLC |
| 8 | Bitch Better Have My Money | Rihanna | Deputy |
| 9 | Solo Dance | Martin Jenssen | 2:Floor |
| 10 | Hate Me | Lil’ Peep | Hank Solo Productions OY |
| 11 | BTS | We Are Bulletproof | Akarlsson Music AB |
Important note: *This change only applies going forward. All payouts before today were handled by Anotherblock. All payouts for royalties accruing till H1 2024 (including the payout in September 2024) were handled by Anotherblock. Polytrade’s first payout will be in Q1 2025
Join Polytrade on Discord
We have created an exclusive chat on Discord for the Anotherblock fam.
- Please join here: https://discord.gg/DsC2jSfNxm
- Verify your Anotherblock NFT
- Keep an eye on Anotherblock announcement channel
- Keep chatting on Anotherblock chat
TLDR
The NFTs were originally minted by Anotherblock on behalf of the rightholder.
On September 23, 2024, Polytrade announced it would take over Anotherblock’s responsibilities as a distributor. At this time, Anotherblock updated the NFTs to the new set.
Additionally, Anotherblock will be appointed collection agent to collect royalties from the Rightholder for Polytrade. As always, both Polytrade and Anotherblock are simply conduits, and the Rightsholders remain ultimately responsible for payments to the NFT holders.
This change only applies going forward. All payouts before 23rd September 2024 were handled by Anotherblock. All payouts for royalties accruing till H1 2024 (including the payout in September 2024) were handled by Anotherblock. Polytrade’s first payout will be in Q1 2025.