Music-related data collection, storage and access need to be improved on every level and with Web3 tools the potential is enormous.
TokenTraxx fingerprint software (in development) will allow all music, including music performances to be properly documented.
Data collection starts with IP generation. It is clear that the current system of data collection – at a recording level when music is made – is inadequate. If anything, it has gotten worse over time, especially with the advent of digital recording.
During the ‘Credit Where Credit is Due’ campaign, TokenTraxx Co-Founder TommyD met representatives from both the British Museum and US Library of Congress, who were dismayed at the lack of information being collected in today's music creation sessions.
The British Library alone has over a million recordings with absolutely no information as to who wrote or performed the music.
TokenTraxx will work with DAW companies on integrating and encouraging fingerprinting within the initial recordings in a seamless and simple way – allowing Creatives to focus on their creativity while ensuring that creativity is documented and securely stored on the blockchain.