The Mycelia LiveBite project with Imogen Heap is an experiment to enable people to better understand the income that an artist gets from a digital track release and how splits and royalty payments could be more effectively managed using smart contracts and blockchain technology.
The initiative was developed in collaboration with Music Tech Fest Stockholm, as part of the Mycelia/Blockchain LAB, and involved an acoustic performance where Imogen gave 150 fans the opportunity to participate in the LiveBite experiment. Contributing a nominal amount, for the next 12 months fans will receive a split in the streaming revenue from one of the songs - Half Life - which was recorded during the acoustic performance.
It is important to note that these are not shares. The fans are contributing to recording and distribution costs and receiving royalties for that contribution – percentage split of recording which is neither sellable nor transferrable.
This experiment is a specific use-case for how Mycelia’s Creative Passport can create more transparency and greater business opportunities for music makers.