Musical NFTs will no longer escape Sacem’s radar. Indeed, the Society of Authors, Composers and Music Publishers has entered into a partnership with the French start-up Pianity so that French artists receive their due when their songs are sold in the form of NFTs. The agreement notably provides for a “resale right”, which will offer new remuneration for rights holders each time the NFT version of their musical work is resold.
Launched in 2021, Pianity is a platform that allows artists to transform their tracks into NFT to offer them in limited editions to their fans. “It is a great pride for us to develop, alongside Sacem, the legal framework for a format as recent as NFT”welcomes Kevin Primicerio, co-founder and CEO of Pianity.
As for Sacem, this partnership enables it to set foot in the stirrup to enter the era of Web3 and thus adapt to future changes in the music industry. “This new agreement with Pianity marks a new stage in our entry into Web3 alongside an ambitious and copyright-conscious player. In view of the technological challenges ahead in Web3 and the remuneration issues that persist in the digital world, I remain convinced that it is collectively, with all industry players, that we must build a virtuous circle for a fair sharing of the value of music”believes Cécile Rap-Veber, CEO of Sacem.