Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home Music

FanDuel Co-Founders Start Fantasy Record Label Game – Billboard

rmtsa by rmtsa
November 17, 2023
in Music
0
FanDuel Co-Founders Start Fantasy Record Label Game – Billboard
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

G Herbo on Survival Skills & Street Codes for Power Book IV Force

Here’s How You Could Win a $500 Target Gift Card

Megadeth Announce First 2026 Headlining Dates for Farewell Tour

Vault Music — a platform created by the co-founders of online sports betting company FanDuel that allows artists to create exclusive, limited-edition music releases — has launched a new game that lets players create and manage their own fantasy roster of musicians for cash prizes.

Dubbed Fantasy Record Label, the game — launched by Nigel Eccles and Rob Jones — is designed to create a new revenue stream for emerging musicians while simultaneously giving music fans a way to invest in artists.

To play, users are invited to “sign” five artists on Vault Music by purchasing a “vault” — a digital music collectible built using NFT technology — from the artists they see as having growth potential. Rosters are scored on the change in artists’ Spotify monthly listeners count, a metric that’s updated daily. Final standings are calculated by adding all five artists’ Spotify monthly listener gains and losses over a one-week period, after which the top 10 fantasy record labels win cash prizes.

As an artist becomes more successful, demand increases for their vaults, thereby raising the price of those assets and benefitting players who have “signed” them to their rosters. Players can buy, sell or trade vaults each week. Artists receive 70% of each sale, with 15% percent taken in processing costs and Vault Music taking an additional 15%. Each time one of their vaults is resold, artists receive 7% of the resale price.

“Think fantasy sports but for the music industry,” said Eccles, co-founder/CEO of Vault Music, in a statement. “I believe that unlike the sports and gaming industries, music has failed to energize top fans and embrace new formats. Streaming has been great for the music industry’s bottom line, but it serves passive listeners, not diehard fans. Our goal is to bring joy, pride, and competition back to collecting music, and create upside for both fans and artists in the process.”

Successful players also receive “Vault points,” which are airdropped each week based on performance and which are designed to encourage roster optimization and long-term strategy. “Over the next few months we plan to reveal more about the value of points,” Eccles tells Billboard. “Our first players are helping build the ecosystem so we want to use points as a way to track that so we can give back to them when the product is more developed.”

According to Eccles, nearly all artists on Vault Music will be available for players to “sign.” Some of the more prominent artists on Vault Music currently include BLÜ EYES, Jordan Hart, Naika, Telescreens and FLETCHER.

“The best part about this game is that we’re using fandom to put more money in artists’ pockets at the time when they need it most,” added Kara Burney, chief marketing officer at Vault Music. “Already we’ve seen artists earn more with a single release on Vault Music than they’ve earned from streaming in a year. That’s because in our game, just as with real record labels, up-and-coming artists have the most potential upside. Our players are incentivized to discover, collect releases, and sign the next music stars to their fantasy label before their big break. It’s a music economy where everybody wins.”

At launch, Fantasy Record Label is only available in the United States, though Vault hopes to extend it to other markets soon.



Source link

Tags: BillboardCoFoundersFanDuelfantasyGameLabelRecordstart
Share30Tweet19
rmtsa

rmtsa

Recommended For You

G Herbo on Survival Skills & Street Codes for Power Book IV Force

by rmtsa
October 31, 2025
0
G Herbo on Survival Skills & Street Codes for Power Book IV Force

G Herbo is no stranger to being strategic. He's had to be calculated both in the streets and in his career as a multiplatinum-selling rapper. That's why the Chicago...

Read more

Here’s How You Could Win a $500 Target Gift Card

by rmtsa
October 31, 2025
0
Here’s How You Could Win a 0 Target Gift Card

It's the most wonderful time of the year-- for everything except your budget. How would you like a little help during the holidays?Here's What You Could WinWe're giving you a chance to...

Read more

Megadeth Announce First 2026 Headlining Dates for Farewell Tour

by rmtsa
October 31, 2025
0
Megadeth Announce First 2026 Headlining Dates for Farewell Tour

Megadeth have made good on the first part of their farewell, revealing the first batch of farewell tour dates in support of their final studio album.So far, the...

Read more

Chandler Moore and Naomi Raine Exit Maverick City Music

by rmtsa
October 30, 2025
0
Chandler Moore and Naomi Raine Exit Maverick City Music

Source: Press / Maverick City Music Two high-profile members of Maverick City Music, an award-winning worship collective, have exited the group. Chandler Moore and Naomi Raine released statements...

Read more

Esau Ortiz on Pioneering Retrobélico

by rmtsa
October 30, 2025
0
Esau Ortiz on Pioneering Retrobélico

Esaú Ortiz had already penned important songs for Luis R Conriquez (“De Fresa y Coco”) and Grupo Firme (“Tronando Ligas” with Junior H) when he had a thought:...

Read more
Next Post
The Treasure of Foggy Mountain’ Review – The Hollywood Reporter

The Treasure of Foggy Mountain’ Review – The Hollywood Reporter

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
DramaWired

Browse the Latest Entertainment News on DramaWired.com. Celebrity News, Movies, Music, Gossip, Comics, TV and More News.

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • “All Creatures Great and Small” Has Never Been Better
  • Jennifer Hudson, Sherri Shepherd, Bring Halloween To Daytime TV
  • Florida Man Arrested After Throwing Hot Grease on Roommate During Argument • Hollywood Unlocked

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In