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Corite

Project CO lets independent artists use their fan power to the fullest, while getting their music on all major streaming services, such as Spotify, Apple Music, TikTok and YouTube.
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Music
Blockchain
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Ethereum
Currency
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CO
Publisher
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Corite Team
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What is Corite?
CORITE (Content Blockchain for the Creative Economy) is a platform that aims to revolutionize the music industry by leveraging blockchain technology. It provides a decentralized ecosystem where artists can tokenize their creative works and connect directly with fans, allowing for fair and transparent monetization of content. By leveraging the power of blockchain and fostering direct artist-fan relationships, CORITE aims to empower artists, enhance transparency, and reshape the music industry's economic landscape. It offers a decentralized and innovative platform for the creative economy, unlocking new opportunities for artists and enabling fans to actively participate in the success of their favorite creators.

Tokenization of Music
CORITE enables artists to tokenize their music and other creative content, creating digital assets that can be traded and shared on the platform. This tokenization process ensures provenance and authenticity of the content while providing artists with new revenue streams.

Direct Fan Engagement
The platform allows artists to engage directly with their fans, building a closer and more interactive relationship. Fans can support their favorite artists by purchasing and trading their tokens, participating in exclusive experiences, and accessing special content.

Transparent Royalty Payments
CORITE utilizes smart contracts to automate royalty payments to artists. This ensures transparency and efficiency in the distribution of earnings, eliminating intermediaries and reducing the risk of royalty disputes. Artists can track their earnings in real-time and receive fair compensation for their work.

Community-Driven Platform
CORITE fosters a vibrant community where artists and fans can interact, collaborate, and discover new talent. The platform encourages fan participation by offering incentives and rewards for supporting artists and contributing to the ecosystem. This community-driven approach promotes a sense of ownership and shared success.

Licensing Opportunities
CORITE aims to bridge the gap between artists and commercial opportunities by providing licensing and synchronization options. Brands, advertisers, and media platforms can easily discover and license music from the platform, creating additional revenue streams for artists and expanding their reach.

Copyright Protection
With blockchain technology, CORITE ensures the immutable and timestamped record of ownership and usage rights for creative content. This helps protect artists' intellectual property and reduces the risk of unauthorized use or piracy.

Global Reach
CORITE provides artists with access to a global audience. The platform breaks down geographical barriers, allowing artists to connect with fans from around the world. This opens up new markets and opportunities for artists to expand their reach and grow their fan base.

Crowdfunding Campaigns
Artists can launch crowdfunding campaigns on CORITE to fund their creative projects. By tokenizing their upcoming releases or merchandise, artists can offer exclusive rewards and incentives to supporters who contribute to their campaigns. This crowdfunding model enables artists to finance their projects while involving their fans directly in the creative process.

Data Analytics
CORITE offers data analytics tools that provide artists with valuable insights into their audience and fan behavior. Artists can access data on streaming patterns, token trading, and fan engagement, which can help inform their marketing strategies, tour planning, and content creation decisions.

Smart Contract Automation
The platform utilizes smart contracts to automate various processes, such as royalty payments, licensing agreements, and content distribution. Smart contracts ensure accuracy, transparency, and efficiency, reducing administrative burdens for artists and streamlining business operations.

Verified Artist Profiles
CORITE implements a verification system to ensure the authenticity of artist profiles. This helps fans discover legitimate and verified artists, safeguarding against impersonation or fraudulent accounts. Verified profiles enhance trust and credibility within the platform's ecosystem.

Collaboration Opportunities
CORITE encourages collaboration between artists by providing a platform for joint releases, remixes, and featured collaborations. Artists can leverage the network to connect with like-minded creators, fostering a collaborative and supportive environment for creative expression.

Mobile-Friendly Interface
The CORITE platform is designed with a user-friendly and mobile-responsive interface, enabling artists and fans to access and engage with the platform from anywhere, at any time. This enhances convenience and accessibility, ensuring a seamless user experience across various devices.
Information
Type
NFT Marketplace
Blockchain
Ethereum
Currency
CO
Platform
Windows, macOS
Publisher
Corite Team
NFT marketplace
In App
FAQ
Corite is a digital platform that lets artists get funding and marketing support from fans. In return, they share their future revenues when music is streamed. The raised funds can be used by the artist for promotion, video creation, etc. So to sum it up:

Fan campaign is set up by the artist: A fan campaign is a presentation of the artist and the music. The artist sets a funding goal, which is the same as deciding a royalty advance on an estimated number of streams. The advance will be funded by fans and repaid by revenue from streaming for one year.
Backers get a share: Investors and fans listen to the song and decide to back it. If the artist believes the song will stream a lot, it means the song has a higher estimated value. A higher estimate means a higher price for the backers to get a share. Corite keeps 10% of the raised capital and the future royalties.
All share the success: Song is released through Corite to all major music services (Spotify, Apple Music, Amazon etc). Artist and backers follow the progress and are incentivised to promote the song. If the song doubles the streaming goal, it means double the money back. Corite handles all payouts.
Setting a reasonable and realistic fan campaign goal is essential to a successful fan campaign. It’s important to set a fair goal for the backers, even if backers mostly back a fan campaign with their hearts and not their wallets. Note that you are only sharing your revenues with your backers for one year, meaning the appreciated goal counts for that one year only.


Is this your debut release, or do you have less than 100k streams on one song?

Creating a fan campaign is a great way to grow your fan-base and launch your music career. If this is your first release, or if you haven’t passed 100k streams on one song yet, the payback goal should be a maximum of 100k streams.


Are you an up and coming artist with more than 100k streams on a track, or an already established artist?

The maximum payback goal you can set is decided by your most streamed song. Example: One of your most streamed songs has 1 million streams on Spotify. Then your payback goal should be set to 1 million at most.

Is there a strong reason for you to believe your debut song will stream more than 100k the first year, like it being a part of a TV-commercial or other big activities? Let us know when you submit your fan campaign in the message to moderators.
Other than supporting the music you love and being a part of someone's dream, backers get paid when the music they have funded is being streamed. When the music you have backed is released, you will also get access to daily trend data, which means you can see in real time how the song is streaming.

The 'Return' icon in each fan campaign indicates the potential amount paid out when the one year streaming goal is reached. If it says 1.6x it means that backers are likely to get 1.6 times the funding they provided or, put differently, if you invest €10, you would end up with €10*1.6 = €16.

Your share is calculated like this: the song is valued based on the artist’s estimate on the number of streams during one year. This is possible as we know what a stream typically would be worth. That said, it’s an estimate, not exact science. Your funding in relation to that value determines your share. A value of 100, and funding of 10 would result in a 10% share. For backers this is only the beginning. Until all of the funding amount has been paid back (10 in our example), backers get all the revenue collected, after Corite has taken its fee. Only after all of the funding is paid back will the backers and the artists get their respective share. This means the backer will actually get the money back before the song reaches its streaming goal. If the song doesn’t reach its goal, the payouts will be less, if it breaks the goal the payouts will be higher. All share the risk as well as the rewards.

Together we will celebrate milestones and keep you updated on how the music is being streamed.
You will start to get your money back as soon as the digital stores pay out the royalties to Corite. The first payout tends to be in the third month after the release (streaming platforms take that long to make their payouts to Corite) and then every month after that. You get paid at the same time as your backers. If the song reaches its goal that was set by you, then backers will continue receiving money until the fan campaign’s one year period is over. We typically attempt to pay out on the first Wednesday after the first week in a month but the dates may vary.
If you have decided to invest in a release, you will start to get your money back as soon as the digital stores pay out the royalties to Corite. The first payout tends to be in the third month after the release (streaming platforms take that long to make their payouts to Corite) and then every month after that. This means that you get paid at the same time as the artist. If the song reaches its goal that was set by the fan campaign creator you will continue receiving money until the fan campaign’s one year period is over. We typically attempt to pay out on the first Wednesday after the first week in a month but the dates may vary.
Welcome to Corite CO, a blockchain-based music platform jointly powered by fans and artists to finance and promote music in a Play to Earn model.

The CO Project is a decentralized platform based on Corite’s proven model for independent artists and fans to co-create, fund and promote music. Using Fan Power, artists can engage and reward their fans in every aspect of their career and share success together.

The CO Project lets independent artists use their Fan Power to the full, while getting their music on all major streaming services, such as Spotify, Apple Music, TikTok and YouTube. The platform is used by tens of thousands of fans and artists already. Bringing Corite to the blockchain will enable control, ownership and new ways to enjoy and live off digital art and music by rewarding activity and engagement.

At CO, fans will invest in and support their favorite artists to give them resources and possibilities to realize their dreams. Fans will get song shares by backing music and earn Fan Power by making the music a hit. As a first in the world we’re bringing Play to Earn to the music industry in a new way, where the most engaged artists and fans set the rules and share success together. Listen. Like it? Back it. Push it!

Corite CO aims to become a music platform for a large global audience with millions of artists and fans, powered by blockchain technology. Users do not need to have an in-depth knowledge of cryptocurrencies and blockchain. We are targeting those who create music and all those who love and are ready to support and invest in it, with money and/or activity. The CO platform will engage a much bigger audience than previously seen in the field of blockchain music (which typically have been focused on the fan’s or the artist’s needs), and with that comes a larger opportunity for revenues for everyone involved.

Building on the proven business model that has attracted thousands of artists and fans from all around the world, Corite is bringing new approaches to music crowdfunding and Fan Power. We view CO as a natural next step in realizing the Corite vision.

Once the CO platform is launched, artists will be able to not only do a crowdfunding fan campaign on Corite using FIAT currencies, but also broaden the artists’ possibilities by introducing fans to NFTs, social tokens, and other gamification elements. Put differently, CO is about what happens after the music is released and where the fun happens: fans and artists working together to make the music a success, rewarding co-creation and talent wherever it may be.
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