Crowdfunding

Crowdfunding For Bands

In many ways, the crowdfunding process on The Metal Crowd is similar to that of other platforms. To start, bands on their own or with the support of a record company create a crowdfunding campaign on The Metal Crowd app, which requires a photo, text description, a brief video pitch, and links to their website and social media. The next step is promoting their pitch to garner support. Users are offered a campaign for a small fee.

Campaign Setup

When setting up a campaign, bands have the option to choose rewards from a list of options or create their own. The default rewards are mainly tokens that grant access to digital media, such as:

  • The final songs to be released
  • Audio of unreleased songs, demos, special versions (live, acoustic), remixes, stems, or individual vocal/instrument recordings
  • Tokens of sets that give access to rare bonus songs
  • Guitar tablature, musical notation, or video tutorials on a particular instrument
  • Extended information about the music in the form of voice notes, videos, or text
  • Signed artwork
  • Photo pack
  • Behind-the-scenes footage from the studio

Bands have three options to set access to the rewards:

  • Guaranteed access for each donor
  • Random access through a raffle with varying degrees of rarity (common, rare, and unique)
  • Obtainable as limited collector’s items for purchase at specific prices based on rarity

Bands can offer conventional rewards like merchandise outside The Metal Crowd platform, but any real-life experiences or rewards are outside the platform’s purview. However, with the assistance and guidance of The Metal Crowd team, each band can customise a flexible reward structure.

Campaign

The campaign’s duration is flexible, but The Metal Crowd recommends setting it to 30 days. Promoting the campaign to followers before and during this time is essential to maximise the chances of success. The Metal Crowd’s big advantage is its gamification mechanics, including digital rewards and royalty shares, which help bands reach their funding goal without spending money on physical merchandise.

Donations are kept safe in separate accounts. The respective balances are made accessible to the public. After a successful fundraising campaign, the collected funds are paid to the band; otherwise, the donors get their money back.

After Campaign

After a successful fundraising campaign, the bands have access to the funds to record their music. The finished tracks and all digital reward files are then handed over to The Metal Crowd to distribute the rewards to donors and add the songs to the web player and online store. The Metal Crowd platform automatically manages the collection and distribution of revenue through its programmable smart contracts.

Artists retain the copyright to their music and can offer it to record companies or streaming services if they choose to do so.

Call To Action

Be part of The Metal Crowd innovation.

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