GIGCO: A Web3, Solana based mobile application focused on solving fundamental problems within the music industry.
Smart contracts and NFTs are currently transforming the way the world does business and they are coming to revolutionize the music industry. The framework is set to usher in a new era of artist ownership and previously unfathomable control of that creative work.
Hundreds of artists are already taking advantage of this new technological opportunity and minting their work as NFTs. Kings of Leon, Eminem, Steve Aoki, and 3LAU have all recently made millions of dollars through NFT sales. NFTs offer artists complete control of ownership, enabling equitable compensation whether they chose to sell all or part of the original material.
GIGCO is a brand-new, community backed, tokenized mobile app with ambitions to become the nucleus connecting all layers of the music industry to the new world of Web3.
What GIGCO Does
The GIGCO mission is to empower musicians by providing them a platform to take complete control of their own careers. Instantly deployable ‘Gig Contracts’ will shape the digital landscape allowing artists the opportunity to operate in an intermediary free environment. Existing systems where third parties took large cuts of revenue are no longer required. GIGCO allows artists to connect directly with the venues they play or the fans who attend their live shows and consume their content.
GIGCO app offers a multitude of unique venues opening up a world of working opportunities and potential gigs for artists at all stages of their career. Venue owners are able to browse the GIGCO database of artist profiles and promo videos to seek out available bands. When the desired profile is found the venue simply selects “Create Gig” and a smart contract is instantly deployed, the event is arranged. Through a deposit escrow system, the contract covers both parties for potential no-shows or defaulters.
GIGCO will offer artists the opportunity to mint their music as a Non-Fungible Token (NFT), which will be featured in the app as an NFS or Non-Fungible Song™. Here an artist will go through the KYC process, unlocking the ability to upload audio files to their GIGCO profile, when a song is uploaded it is then minted as a coded address on the blockchain. This minting process allows the artist the opportunity to split the NFS into as many as 10,000 individual pieces. These can then be sold to fans to crowdfund the song’s release providing artists with instant funding and their fans a way to support them through direct patronage. Subsequently, fans can share in their favorite artist’s success, receiving royalties from the split NFS every time a stream occurs. In addition, fans can then trade or swap their NFS on the GIGCO Music Marketplace.
In the future this feature will develop further to offer verified artists the ability to pre-sell an NFS in advance of a new single, E.P., or album creating funding directly from their fans to cover costs for production and the recording process.
Artists can also sell tickets or merchandise as NFTs, receive tips from fans, and benefit from staking rewards created through their profile. “Proof-of-Attendance” features will allow artists and venues to reward loyalty and connect art, photos, live recordings, merchandise, and other benefits directly to reward those who attended an event. It will also add a layer of verification for reviewers to prove they were in fact at the show and aren’t simply shill reviews.
Music fans can collect these NFTs, building collections which have genuine personal meaning and nostalgic value. Into the future these NFTs can increase in rarity, especially if they were originally purchased when the artist was just breaking through.
Using the $GIG token, GIGCO will gamify the on-boarding process. The “Listing Edition” will be a prime example of this, here fans can receive rewards for helping to build the GIGCO venue database. Fans will be able to earn $GIG by staking their favorite artists or venues through various customizable incentive programs.
Balances for services provided on the GIGCO platform can be settled using $GIG tokens, providing utility to users through industry low fees and discounts. Further staking programs for $GIG holders will allow direct locking of the native token in their wallet, earning tiered rewards and a range of benefits through our GIGCO Smart Member Program. Smart Members will have priority access on a number of features including NFT drops, private events, and early bird ticket sales as well as increased staking rewards and premium platform discounts.
Building the GIGCO Community
GIGCO seeks to build a strong, supportive community who share in the mission of connecting artists directly to their fans and venues. Whilst initially the company’s operations are concentrated under a single authority, GIGCO holds a view to become more decentralized over time.
The GIGCO “Listing Edition” will launch prior to version 1.0 “Release Edition”. Early community members will have the opportunity to earn substantial $GIG rewards by listing venues in their local area. A referral system offers even more $GIG reward for users sharing the platform with friends, family, or other music fans they know.
The GIGCO300 Program will onboard 200 artists and 100 venues who will receive a host of initial benefits across the platform. When selecting, GIGCO will look to prioritize those who are already digital natives, keen to shape an entirely new working landscape for other artists like themselves.
Review writers active on the platform will also be compensated for their efforts using the $GIG token. The best reviewers will receive badges to display on their profiles.
The GIGCO Team
The GIGCO founding team consists of a collection of professional and semi-professional musicians, venue owners, programmers, and blockchain enthusiasts.
They bring together a wealth of knowledge gained through decades of first hand experience in the music industry; their combined experience provides the project with a fundamental understanding of a musician’s needs. This comprehension will be tuned to focus on developing an application that can benefit current and future generations of musicians. The team incorporates a network of music industry relationships which will be deployed throughout the development and launch phases.
To support the efforts of the team, a band of highly experienced tech industry advisors are being assembled to provide their professional opinion to guide & mentor the GIGCO journey. Having access to such great depth of knowledge is truly inspiring for the team.
At GIGCO, passion for music merges with pure excitement for emerging technology and the road ahead.
Roadmap
Q1 2022
- Launch of GIGCO — Listing Edition
- GIGCO — Ticket Edition Development
Q2 2022
- Public IDO
- Exchange Listing
- GIGCO — Ticket Edition Launch
- Artist & Venue investments
- GIGCO App — Version One Development
Q3 2022
- GIGCO App — Version One Launch
- GIGCO Music Festival (UK)
- GIGCO NFT — Ticket Stub & Promotional Poster
Q4 2022
- GIGCO App — Version Two
- GIGCO NFS — Non-Fungible Song™
You can find more information about the GIGCO app @ GIGCO.com
