JAKARTA - Only seven seconds, the collaborative song between Dwiki Dharmawan and Ustaz Erick Yusuf, became the first religious song released as a fractional music asset on the Netra platform, allowing artists to share music ownership and royalties using NFT.
"Previously in the music industry, in distribution, it was as if all central holders were producers. But with the idea of utilizing blockchain technology, we have empowerment, between, for example, me and fans, where fans can own part of the shares with these fractional music assets," Dwiki said at a weekly event (weekly briefing) with the Minister of Tourism and Creative Economy (Menparekraf) Sandiaga Salahuddin Uno online, Monday, quoted by Antara.
However, for now, said Dwiki, ownership is still given in a limited manner, which is a maximum of 300 people.
In addition to sharing ownership with fans, the release of "Seven Seconds Only" on the Netra platform also makes royalty distribution more transparent.
"So there are two things. The first is empowering fans with their artists or creators (of the music). Second, the perpetrators themselves can get transparent royalties so that they are both happy," said Dwiki.
Meanwhile, Ustadz Erick Yusuf said that he was very enthusiastic when he was invited to collaborate to release religious songs on the platform.
"Of course I am very happy to be invited by the international class maestro Dwiki Dharmawan. Alhamdulillah, with a new platform, I think that religious music should not be left behind," said Erick.
He also hopes that this step will inspire musicians of religious songs to be more confident in entering the industry.
The song "Seven Seconds Only" tells about deep regret for someone for not making good use of time.
"For example, in this Ramadan, we don't even get out of the dhikr. Then these seven seconds in decision making are very important, don't let us regret it," he said.
The release of the song "Seven Seconds Only" on the platform then received appreciation from the Ministry of Tourism and Creative Economy. Director of Music, Film and Animation Mohammad Amin said this could be a solution to Government Regulation (PP) Number 24 of 2022, one of which regulates financing with Intellectual Property Rights guarantees.
"Actually, this is one of the solutions of PP Number 24, IP-based financing and using stock methods. And because the technology has been initiated by Netra, of course this can be a solution," said Amin.
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