Eqoty Labs

Distribute music anywhere, tokenize your royalties, and unlock new revenue paths.

[Eqoty Labs @eqotymusic]

@Cooopahtroopa Spot on

[Coop 💿 @Cooopahtroopa]

The World Hates Crypto.

(And how to solve it)

https://t.co/dS5DUNxejW

[Rob Abelow @AbelowRob]

The VP of Audio at AI platform Stable Audio just resigned because the company is harvesting copyrighted music for their models - without permission or payment.

Here's his statement:

"I’ve resigned from my role leading the Audio team at Stability AI, because I don’t agree with the company’s opinion that training generative AI models on copyrighted works is ‘fair use’."

For those unfamiliar with ‘fair use’, this claims that training an AI model on copyrighted works doesn’t infringe the copyright in those works, so it can be done without permission, and without payment.

This is a position that is fairly standard across many of the large generative AI companies, and other big tech companies building these models — it’s far from a view that is unique to Stability.

But it’s a position I disagree with.

I disagree because one of the factors affecting whether the act of copying is fair use, according to Congress, is “the effect of the use upon the potential market for or value of the copyrighted work”. Today’s generative AI models can clearly be used to create works that compete with the copyrighted works they are trained on. So I don’t see how using copyrighted works to train generative AI models of this nature can be considered fair use.

But setting aside the fair use argument for a moment — since ‘fair use’ wasn’t designed with generative AI in mind — training generative AI models in this way is, to me, wrong. Companies worth billions of dollars are, without permission, training generative AI models on creators’ works, which are then being used to create new content that in many cases can compete with the original works. I don’t see how this can be acceptable in a society that has set up the economics of the creative arts such that creators rely on copyright.

To be clear, I’m a supporter of generative AI. It will have many benefits — that’s why I’ve worked on it for 13 years. But I can only support generative AI that doesn’t exploit creators by training models — which may replace them — on their work without permission."

- Ed Newton-Rex

This is Stability AI's audio arm.

We need systems that incentivize good behavior for generative AI usage, where artists can benefit from its upside.

Music must be licensed.
Artists must be compensated.
And they must have the ability to opt-out.

[Eqoty Labs @eqotymusic]

@Cooopahtroopa Any artists looking to for a way to raise money through the sale of royalty rights to fans/investors? We're looking for artists to beta test our music distribution platform before the years end. For every song we distribute we tokenize royalties and make them tradable.

[Eqoty Labs @eqotymusic]

@troels_a @matthewchaim Radio is not all that. Performance royalties are not being paid at all. In the USA at least

[Eqoty Labs @eqotymusic]

The digital audiophile community still to this day is largely under-served in terms of convenience and legal options.

[Eqoty Labs @eqotymusic]

Fun fact the challenge of recreating some of their greatness, in a legal way, that pays artists is a huge motivator for why we are building Eqoty. Since their shutdown the audiophile community w/ no true legal alternatives have switched to some lesser (less than legal) options

[Eqoty Labs @eqotymusic]

@BelleMtMusic Then the customer will actually reupload their own uniquely encrypted copy to an ipfs provider of their choice.

This will of course all be automated in our apps, where the purchaser doesn't have to know how it works beyond having to execute two txs

[Eqoty Labs @eqotymusic]

@BelleMtMusic We're not launched yet. But, we will to be doing things differently. When a customer purchase a mint of a song, the metadata will actually be blank. But, owning the nft will grant the owner access to decrypt a copy of the song that we maintain...

[Eqoty Labs @eqotymusic]

@BelleMtMusic Also, you also can't resell what you purchase on web2 platforms, as you don't truly own it. And for pretty much all existing web3 apps, music nfts you can purchase have media files publicly linked in the metadata. Nothing about the media you purchase is exclusively yours.

[Eqoty Labs @eqotymusic]

@BelleMtMusic Second, if the provider you purchase music from does have an easy streaming solution... you are now locked into their app/platform. Unless you diligently backup and manage your file collection, you don't really own what you purchased. You just own access on their platform

[Eqoty Labs @eqotymusic]

@BelleMtMusic In our opinion there are two big problems with purchasing digital music today that make delisting your music on streaming dsps unwise. First and foremost, managing your own music library/files you purchase is work. Work a lot of people won't do, they will just stop listening.

[Eqoty Labs @eqotymusic]

@ertemann @gadikian @assafmo @SecretNetwork @orageux101 @admirariDAO Like take the case where you sell concert tickets as nfts. Many people aren't going to want their future location (the concert) exposed to the world just because they bought a ticket to an event. Web3 needs the capability to protect people at least as well as web2

[Eqoty Labs @eqotymusic]

@ertemann @gadikian @assafmo @SecretNetwork @orageux101 @admirariDAO From our standpoint even if sgx isn't sidechannel bulletproof, there is something to be said for having a block chain supporting private data that can be used in a practical way for non fin-tech consumer applications. People need security/privacy that's at least on par with web2

[Eqoty Labs @eqotymusic]

Eth support 👀

[Secret Network @SecretNetwork]

Announcing Secret Ethereum!

This new initiative supports the #Ethereum community in its mission to protect confidential data from the transparency of most blockchains, setting the stage for a new era of privacy and protection.

Dive in! 👇(1/2)
https://t.co/KtQ57UgYPT

[Rob Abelow @AbelowRob]

Only digital album downloads are down (↓12% to 9m).

There is huge opportunity to create a new digital album format that people love & put value on it.

What does that look like? 🤔

[Eqoty Labs @eqotymusic]

Great news for our native apps in development 🙌

[CoinDesk @CoinDesk]

Google Play announced a big shift in policy today, allowing developers to incorporate digital assets such as NFTs into their apps and games in the store.

@tobyleah reports:

https://t.co/6HHK4tpCJV

[Eqoty Labs @eqotymusic]

@Kotrumps747 We're building on Secret Network & payment splits will be supported day one, it's a core feature. What sort of scams are you referring to? We will be manually approving artists at the start & will reserve the right to disable their ability to upload if they are breaking our ToS

[Eqoty Labs @eqotymusic]

Join us in an hour to get a run down of what Eqoty is and learn more about the tools we've been building to help empower artists. We've been building all year and are finally ready to enter our testing phase in the coming weeks.

[Secret Network @SecretNetwork]

Join the @SCRT_Agency on Thursday at 6pm UTC / 2pm EDT for Agents of the Round Table!

@eqotymusic will take the stage to discuss their platform, the first content protected marketplace for utility backed music NFTs. Set a reminder today!

RSVP: https://t.co/xbMZWyR3yY

$SCRT

[Secret Network @SecretNetwork]

Join the @SCRT_Agency on Thursday at 6pm UTC / 2pm EDT for Agents of the Round Table!

@eqotymusic will take the stage to discuss their platform, the first content protected marketplace for utility backed music NFTs. Set a reminder today!

RSVP: https://t.co/xbMZWyR3yY

$SCRT