The transition from Web2 to Web3 is progressing slowly but surely. In this interview, Antoine had the pleasure of receiving William Bailey, co-founder and CEO of Bolero. This young company has recently begun to shine in the field of musical investment and Web3.
Innovative and unprecedented, the Bolero concept presents itself as a revolution in the way we listen to and consume music. Today, we are going to talk about music and Song Shares.
William will give us more details about Bolero and the value the platform offers to its users.
- Antoine: So, hello William and thank you for agreeing to grant me this interview!
William: Hi! No, please. Thanks to you !
- Antoine: So concretely, what is Bolero? Could you explain that to us in a few sentences?
William: Of course, with pleasure. First of all, you should know that Bolero is a platform created for music fans on the one hand and for artists on the other. The goal of Bolero is to allow any listener toinvest in music he likes, while having fun thanks to streaming.
In other words, music fans aren’t just going to listen to their favorite tracks anymore. They will be able to invest in the songs they like the most and generate income at the same time. And to facilitate these investments, we have set up an asset: Song Shares.
- Antoine: Can you explain to us a bit more in detail what Song Shares are, please?
William: Absolutely. Song Shares are an asset class. The literal translation would be “parts of pieces of music”. These are digital assets that contain the intellectual property of a song.
So, with Song Shares, your favorite artists will share with you a certain percentage of the revenue generated by their songs or their next album. This is called “return on emotion”, similar to return on investment.
Thus, the revenues generated are shared on the date of sharing of the royalties defined upstream.
- Antoine: It’s a really innovative business model! As a result, Bolero offers a completely new experience around music and artists ?
William: Yes, absolutely, because thanks to the assets I just told you about, the Song Shares, you can build your own collection of digital assets. This supports artists’ careers and earns you side income.
Our goal is that any music enthusiast or any fan of an artist can have a label in his pocket!
We want to change the balance of power that currently exists in the music industry. We want to offer more independence to artists and allow them to benefit from a new income that will be healthier and above all fairer.
- Antoine: Today, how many artists do you have at Bolero?
William: Today, we have more than 50 artists in about ten different musical genres. We have artists in England, Germany, France and the Middle East.
We started to diversify more and more. I must admit that things have accelerated quite a bit since we welcomed established artists like Rilès or Maes recently.
We are also trying to speed up the Song Shares part right now because it is a use case in which we believe a lot. And our community finds a lot of value in it and supports us.
- Antoine: William, what is the 2023-2025 vision for Bolero? Where do you see yourself this year and in the years to come?
William: Our vision at Bolero is quite simple. We want to become the leading music investment platform in the world.
We want to ensure that everyone tomorrow has a Bolero account, just like a TikTok, Instagram or Spotify account.
That is to say, buy shares of music tracks, multiply experiences with fan tokens and support the careers of their favorite artists.
That’s for the long-term vision. But already, between 2023 and 2025, what we would like is that as soon as an artist releases a project, a song, an album, he automatically thinks about creating an experience on the platform.
We really want to become a standard in the industry.
- Antoine: For you, what will be the conditions for adoption on a larger scale than the one you currently have?
William: The adoption of Bolero will obviously depend on the size of the catalog we offer and the diversity of musical genres we offer. These are sine qua non conditions for achieving our objectives.
On the one hand, we have crypto-enthusiasts, who are people who know Web3 and who take to the platform very quickly.
On the other hand, we have a large majority of our users who are interacting for the first time with Web3 via Bolero.
What allows us to believe in this vision and to be fully behind this business model is that 80% of our users are music fans. And that is very important to us.
- Antoine: So, we can say that you really make a bridge between Web2 and Web3, right?
William: Yes, absolutely. It must. If we really want to reach the stage of widespread adoption and take Web3 further than where the technology is today, it has to be there. For me, music will be one of the main channels for adopting Web3.
- Antoine: Thank you very much William for your time and your answers!
William: Thank you!
It was William Bailey, co-founder and CEO of Bolero for Tremplin.io. See you soon for a new exclusive interview!
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