SphereTrax, a new music licensing platform and marketplace powered by Bitcoin SV, is set to launch later this year.
It will feature a curated gallery of Dolby Atmos as standard soundtracks and songs for cinema, TV, advertising, trailers, games, VR, AR and XR.
The platform will also aim to revolutionise the way music is placed and licensed in the entertainment industry, in preparation for the coming era of the Metaverse.
It will provide a simplified search engine that has been custom built for music, enabling users to select from several pre-set licenses on the platform, with automatic payment and contracts available.
Producers, filmmakers and developers will be able to purchase tracks as NFTs, essentially taking them off the market for other buyers. The contractual information will be stored with a traceable link to the licenser, the artist and the audio track.
Founder and CEO of SphereTrax Sefi Carmel said: “Dolby Atmos is something we truly believe in here at SphereTrax and our promise to provide Atmos deliverables for each and every one of our tracks is something that sets us distinctly apart from the competition, both for the client and the composer.
“In only a few years we have seen the rapid increase in the adoption of this format, and we foresee that with the development of VR, AR and the Metaverse, Atmos will only grow in popularity.”
SphereTrax is currently in the pre-seed stage of development, and is expected to launch later in 2022.