For the music business, social networking is brilliant. Just when you think it’s doom and gloom and you have to spend millions of pounds on marketing and this and that, you have this amazing thing now called fan power. The whole world is linked through a laptop. It’s amazing. And it’s free. I love it. It’s absolutely brilliant.
Simon Cowell has a point. What’s been missing, though, especially as far as the artists are concerned, is a way to, ahem, monetize fan power. Sure, some bands, comedians, and other artists become popular, connect with big time agencies and distributors and, they hope, become household names. In households, that is, that teeter on the cusp of what’s happenin’. Making that connection, however, is dodgy to say the least. Once connected with record labels, agencies, marketers, distributors, publicists, and so on, the artist is plunged into a world far disconnected from the vibe that made sired their art in the first place. What’s a girl, or a guy, or a band to do?
At the intersection of Artist Street and Fan Avenue near Cryptocurrency Boulevard, Fenix.Cash has stationed itself to bring together the sometimes disparate elements of fans, products, and cash. “Fenix.Cash is on a mission to create a holistic financial platform that will make it possible for bands, performers, comedians, and other artists to connect directly with their fans and supporters. Fenix.Cash is a token that runs on a blockchain platform.”
Let me be honest – I’m not completely sure how cryptocurrencies and blockchain platforms work. I get it, though, that beauty lies in simplicity. Fenix.Cash brings artists and fans together directly. Cut out of the equation are the aforementioned middle entities. Bands, for instance are eager to have their music listened to, their performances seen, and importantly, their merchandise (tee shirts and other memorabilia) sold. This last is, surprisingly at least to me, a vital part of an artists income.
How does it work?
To summarize: Fenix.Cash is intent on increasing revenue for bands (I’ll lump all artists under this description for ease) by removing major impediments to their doing so. For instance, a band can forego the the task of setting up an e-commerce website. Linking with Fenix.Cash obviates this step. Using the Fenix app, a band sets up a blockchain wallet, determines what they want to sell and how much they want to charge – a world-wide decentralised payment system. “That’s it!” exclaims Allan Klepfisz. This means a band can sell all the time, not just at gigs. They have a platform unlimited by time and a live audience. Using the company’s app, a band can customise and develop their own app – instant access for fans. Finally, Fenix.Cash provides a system of royalty recording. Every time a song is played, the band can see it. There are no unreported plays.
To fund this concept, Fenix.Cash is striving for a $30 million capital infusion. That’s a tall order, even given the fact that the concept is obviously appealing and logical. Investment advisor, Adam Stokes, however would beg to differ. His Youtube presentation is longer and more detailed than is that of Allan Klepfisz. Mr. Stokes also likes the concept, but feels that gravitas is sorely lacking, especially as he picks apart the homepage and white pages at Fenix.Cash. https://www.youtube.com/watch?v=lirh4pCjiH0.
Suffice to say that he is very wary of investing in this startup and advises others to exercise the same caution.
Artists looking for a platform that will deliver an easy-to-use base to sell and publicise their efforts should definitely look in Fenix.Cash. Fans will find an accessible site to find and support their favorite artists. Investors should listen carefully to Adam Stokes and seek other opinions before plopping real money into this endeavor.