Vibefactory

VIBEFACTORY is an audiovisual community made by producers that have grouped together from the SoundCloud golden era. We aim to give financial power back to artists by creating a project built on a globally decentralized network. The time of labels and middlemen is long gone ever since Spotify and distribution services came out and shook the entire industry. Now with the evolution of web3, we are looking to be frontrunners in the space, finding creative solutions to crowdfund our own scene while creating valuable unique art and live experiences for fans and investors all around the world. What once required major-label backing is now being achieved in DMs and Discord servers. Using direct community engagement, artists are trialing a new style of patronage where fans come together to jointly invest in the creation of new music. In return, these fans stand to reap financial benefits should the resulting tunes be commercially successful. This crowdfunding approach is facilitated by what are called ‘smart contracts’. Written in computer code and transparently distributed on the blockchain, these self-executing legal agreements can automate essential business transactions, such as royalty payments, between artists and fans. When it comes to managing ongoing issues or decision-making in musical projects, we’re seeing the – Decentralised Autonomous Organisations. Despite the name, these are intensely human-driven systems that enable groups to collectively make decisions without traditional hierarchies. Instead of retaining sole control, artists are essentially transforming fans into teammates, giving those who supported the music a say in how it’s developed and monetized going forward.