DoomsdayX turns music-video fans into producers
The Future. DoomsdayX is building a web3 platform that rewards fans with the power to vote on musicians’ new work, from creative choices to marketing decisions. The platform gives artists much-needed capital to realize projects while allowing fans to be a part of that creation. The next evolution of DoomsdayX may be giving fans financial incentives for the success of those projects — turning fanbases into micro-investment communities for artists’ specific ideas.
DoomsdayX wants to make you a music-video producer from the comfort of your home.
- The company, which is an offshoot of Doomsday Entertainment, allows fans to donate to the creation of projects, like a music video or an album, in exchange for a producer credit.
- The credit given by The Producer NFT collection isn’t just a vanity title — it comes with the ability to have a say in the creative and marketing decisions.
- How exactly that will be done is TBD.
- DoomsdayX has already received $1.5 million in pre-seed funding led by The Chernin Group.
The company’s first project is for Barbados-based rapper Haleek Maul, who is raising $640,000 to shoot a music video later this month.
DoomsdayX co-founder and CEO Eric Doak says that the company’s goal is to create an artist-center “template” that answers: “How can we bring the fans into [the album creation] experience and take them along for the ride while that project is being put together?” Artists win by raising funds; fans win by getting a creative say and credit.
As of right now, this sounds like a web3 take on Kickstarter (which is building its own blockchain-based platform). But where DoomsdayX can really set itself apart is by getting into revenue sharing. The 3LAU-fronted Royal is already doing that for song and album rights — a sort of investment platform into up-and-coming artists giving artists money up front to create while giving investors a stake in their success.
DoomsdayX has the ability to reproduce that model for every revenue stream of an artist.