Revelator has picked Stripe to help it launch an NFT payment infrastructure as an integrated web3 functionality on top of its digital music supply chain management service offerings. Stripe provides financial infrastructure for businesses, manages KYC, fraud, and disputes for its partners. It also offers services for first-time NFT purchasers. Stripe users are able to purchase NFTs instantly.
Revelator will integrate the NFT service into its existing Revelator Pro platform, giving users the ability to create, sell, distribute, and manage NFTs while managing their digital assets, supply chain, rights management, business intelligence, financial reporting, and royalty payment distribution.
With Revelator Pro, music companies are able to collect, process, and sync all of their digital sales reports across digital service providers, and analyse their DSP revenue. The Stripe integration will make Revelator Pro one of the first platform to integrate Web3 functionality, Revelator claims, adding that the move bridges music’s Web2 present and its Web3 future.
The partnership will allow labels, publishers, distributors, and creators to open up a new direct-to-fan revenue stream with digital collectibles and payments. Using Stripe, Revelator will play a crucial role in helping to garner widespread use of web3 from non-crypto natives in the music industry.
Officials from Revelator said that this is a major step toward the company’s vision of onboarding more labels, artists, and fans onto Web3, to bring these promising digital assets to the mainstream of music fans. Right now, too much arcane technical knowledge is required to get music fans and music companies really excited about what should be a thrilling new medium.
Meanwhile, Stripe’s NFT payment technology is already being used by other clients in the music industry including blockchain music streaming platform Audius.
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