Vezt sets out to make investing into intellectual property an innovative use for cryptocurrency.
Steve Stewart and Robert Menendez, founders of Vezt, are pioneering the Initial Song Offering (or ISO) as an avenue for investment. Establishing fractional ownership of an individual song gives the owner/investor the opportunity to earn a commensurate percentage of royalties. As the democratization of investing continues to change the way people put their money to work, the ISO opens an entirely new market to the individual investor.
A little background.
When thinking about investing, the modern environment we move our money in is vastly different from that of decades past. Of course the ICO has changed the game, before that crowdfunding, before that venture capital, stock exchanges, publicly traded companies, securities, and more. We take investing for granted. Anyone can open an online account and purchase investments. Fifty years ago this was a much more difficult process, not only because of the physical movement but also because of regulations requiring accredited professionals at every step of the way.
Today we’re embarking on a new wave, the next major innovation of investing is in connecting individual directly to individual. Vezt takes the spirit of peer to peer and bundles it into a simple commune of art and capital. Giving any artist the opportunity to raise money from their intellectual property allows the artist to fast-track the realization of profits by relinquishing shares of the royalties. The individuals who purchase those royalties then have the potential of earning profits over time.
While this has been happening for some time it was isolated to people working directly with artists. In the music industry it would be those who support the original artist such as accompanying musicians, writers, managers, agents etc. Vezt opens this to the world by creating a marketplace for musicians, the ability for a fan to support an artist in a way that is mutually beneficial, financially. And provides the artist an opportunity to cash in a little quicker. Whether to cover living expenses, investment in new equipment, or money to kick-start a tour – profits from an ISO create financial gain for the artist long before they would likely see those profits in the traditional royalty framework.
Vezt changes the game for investing and artists. Intellectual property is a broad legal category and the model they’re building can easily be applied to works of literature, algorithmic innovations, engineering methods, or anything created that can be claimed as original. The possibilities to apply this subset of ingenuity within the crypto space is literally endless and will likely pioneer a new wave of transformation in creative enterprise and the financing of it. All while opening a new channel of involvement to the everyday investor.