Public Pressure launches web3 platform02 September 2022 - Press release
Groundbreaking, Carbon-Neutral, Media Company Aims to Transition Music to Web3
Patrick Moxey, Paul Sears & Charlie Rapino Added to Music Industry Advisory Board
Headquartered in London but with offices and team members in Europe, Hong Kong and the United States, Public Pressure was originally launched in 2015 as an online community and magazine dedicated to giving a voice to emerging artists and labels.
The company has now launched an eco-friendly, carbon neutral, NFT platform designed to support the transition of music to Web3. It aims to empower the artist/fan relationship while creating new revenue streams for creators and the wider music industry.
Public Pressure Co-Founder and President, Sergio Mottola said, “Less than 20% of total music revenues goes to artists, including from on-demand streams, CD sales, radio play, live events, advertising, that have risen to about $43 billion a year. Of that, artists only take home $5 billion, or less than 20%. We believe the Web3 landscape is today very enticing for any artist to enter. If we ignore the unrealistic price tags some sales are making; we are left with a very compelling distribution format, which will allow musicians to capture more value.”
Public Pressure has announced several high profile music industry executives on its advisory board including - Patrick Moxey, founder of Ultra Music, Payday Records and the newly created Helix Records; renowned DJ manager and music publisher Paul Sears, who is responsible for the success of Benny Benassi among others; and music business veteran Charlie Rapino, currently Vice President of Artist First, the biggest independent label in Italy.
Giulia Maresca added, “We believe Web3 products such as NFTs are not just an emergent revenue stream but also a manifestation of marketing mechanics changing permanently. We aim to leverage the power of ownership for artists, labels, and fans, expand the value chain for rights holders, and unlock bespoke, one-of-a-kind experiences for fan-based economies. People are our principal value and we have designed our platform to make the process of selling and buying simple for artists and fans alike.”
Among the company’s core investors are Scytale Ventures, the leading Polkadot ecosystem venture capital fund founded by Mark Cachia; Gavin Wood, Founder of Ethereum, and Creator of eco-friendly blockchain Polkadot and Kusama, and Ed Hesse, Founder of Energy Web.
Public Pressure is built on Polkadot/Kusama which has the lowest total electricity consumption and carbon emissions per year of the six proof-of-stake (POS) blockchains. Polkadot is the most robust, modular and secure of POS chains and joins all other blockchains into a unified network to enable the creation of smart contracts.
Public Pressure will announce full details of its debut NFT campaign in the near future.