Controversial Music NFT Platform HitPiece Relaunches Months After Shutdown
Mere months after being slammed by the music business at massive for auctioning music NFTs with out artists’ consent, HitPiece has relaunched, Billboard studies.
Legions of artists lashed out at HitPiece in early 2022 after a plethora of NFTs appeared on the controversial market with out their consent. After main recording artists like Jack Antonoff and business commerce organizations just like the RIAA admonished the platform, its web site went offline.
However HitPiece is now again on-line and aiming to be “the best place to create and purchase genuine music artist NFTs,” based on Billboard.
“HitPiece is working with the licensors of music to safe efficiency rights,” Felton mentioned in an electronic mail to Billboard. “We might enter into agreements with particular person songwriters and publishers quite than PROs for the reason that licenses from PROs will not be nicely suited to our platform. We can also enter into agreements immediately with recording artists who’ve these rights or their report labels.”
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HitPiece’s co-founder, Rory Felton, lately spoke with Input and issued a mea culpa.
“Clearly, we didn’t have the right guardrails in place across the product, which led to the miscommunications and challenges that occurred,” Felton mentioned. “We made errors with that, and we’re seeking to study from that and construct upon that.”
HitPiece, which reportedly obtained $5 million in early funding, has since moved on from its beta section and signed up roughly 50 artists, reminiscent of ATL Jacob and Lil Gnar. The corporate takes a ten% transaction payment for any NFTs bought by way of {the marketplace}, per Enter.