A brief introduction to Derive
0x59ab
July 28th, 2021

A new and experimental web3 platform put in the world to explore new models and concepts for funding, curating and distributing music, starting with creator curated compilations called chains.


Derive is founded on the premise that the ways in which we create, share and convene around music should spring from the creators, their work and their audience. It is an attempt at locating positive alternatives to the commonplace modes of operation in the music industry. Alternatives that are sustainable and transparent and work for both the creators and their audiences.

To kick off this new endeavour we’ve launched and experiment in co-curation between creators: Chains 💿 ⛓️

How do chains work?

A token is passed from creator to creator allowing the holder to add a work to the chain whereby the token's path through the network of contributors function as the curation mechanism.

Each chain is funded by the sale of 100 collector edition tokens that grant access to downloads, special discord channels and further perks down the line.

How do I get involved?

First ting to do is to pick up one of the collector tokens listed on OpenSea for a mere 0.01 ETH. Doing so directly supports the contributing artists and their work.
https://opensea.io/assets/0xderive

Secondly there's the Discord. It's open for everyone to join and we encourage you to do so if you're just remotely interested in learning more about Derive and where we're going with this.
https://discord.gg/q4FJBkXF8Y

How far is the project?

The first two of four genesis chains have been launched and the first music has already been added. We've sold the first collector tokens and funds have been transferred to the creators in accordance with the funding model. It dictates a direct 10% share for each contributing artist or group. The collector tokens are being released as the chain progresses and new contributors are onboarded.

What's the plan?

Because much of the process at the moment is manual the four genesis chains allow us to tweak and refine the process and models as we set them in motion. The idea is to figure out what parts work and improve and automate things as Derive progresses. That means developing new smarts contracts, improve and add more features to the UI and work on including the community in more and more processes. We want to develop the project in a direction that best suits the two main groups of the project: contributors and collectors aka artist and audience.

Concerning the latter we are actively working to form a DAO around Derive. A community platform owned, operated and developed by the people contributing to it is the end goal for this project.

Thanks for reading and stay tuned for more!

💿⛓️

Arweave TX
WL51DeJ0OEZMmQVjvFroaKJUwV5Z-iEJV3RbAl2cKFg
Ethereum Address
0x59abbee2F246946Dba01fb037Be603CC0B2B3909
Content Digest
VohVXHjolw1NuuzpwZmfRTuJO9qdRrPAQH0w8IQc1FU