BandPay provides an app that allows musicians, producers, and other professionals in the industry to assign milestones to a project, for which funds are held until a given milestone is met by the mutually agreed upon deadline and services are delivered. At launch, BandPay will already offer creatives a broad set of customizable tools to let them establish agreements that lock payment to agreed-upon milestones. As these milestones are met, guaranteed funds are paid out.
Tidal is the latest in a few sales Jay Z has made in recent weeks.
Fintech firm Stem, which offers access to capital to music artists, reaches $100 million in royalty distributions.
Fintech firm Stem, which offers access to capital to music artists, reaches $100 million in royalty distributions.