Coop Records started over a year ago with the goal of bringing great music onchain.
Today - we’ve made a strong start by onboarding more than 100 artists and a catalog of 500 songs.
A few months back, we debuted cooprecords.xyz - a homebase to collect our songs and earn token rewards.
This format drove more than $1m in payouts to our artists but we saw the writing on the wall - open editions are great for directly supporting an artist, but lack a self-sustaining, autonomous space to come together.
That’s why we’re excited to launch cooprecs.fun - a place where fans can be early to their favorite songs.
How it Works
Every song has a supply of 1B tokens.
During the presale, coins are sold on a bonding curve up until 3.1 ETH has been purchased.
Once 80% of the coins are sold, a pool is automatically created on Uniswap using the remaining 20% of supply.
For every transaction, a 1% swap fee is taken and distributed as follows:
Artist(s) - 50%
Curator - 25%
Coop Protocol - 25%
Swap fees are primary way in which artists are paid from cooprecs.fun
Curated Beta
During the beta - only a select number of songs will be sold.
These songs are approved by the artists, collaborators, distributors and labels associated to ensure attribution is accurate for all rights holders.
The aim is to start with songs that have demonstrated viral growth in traditional markets like Spotify and Tiktok.
In the future - songs may be released by artists through community curation.
Coop Protocol
The Coop Records protocol is a fork of wow.xyz - a new liquidity protocol pioneered by Zora that lives on Base.
We’ve been following these progressions very closely and believe that fungible tokens are the form factor which makes the most sense for music today.
Base has been the foundation for all of our existing catalog on Coop Records and will continue to be our default chain for the foreseeable future.
You can view the open source Coop Records Protocol here.
Coop Records V1
In tandem to the launch of cooprecs.fun - we will continue to distribute all our music to Sound and Audius in line with our existing model on cooprecords.xyz
These platforms create direct to artist revenue streams and will act as supplemental income as we test and improve the new protocol.
Not all songs from cooprecords.xyz will exist on cooprecs.fun at launch.
We aim to build a system where the community can curate and help nominate which songs get upgraded to cooprecs.fun.
Get in Touch
To submit a song, please reach out to demos@cooprecords.xyz
We’re always looking for product feedback and welcome anyone and everyone who has been using Coop Records to join us on Discord.
This protocol launch is the result of nearly a year of researching and utilizing the best onchain products that exist today.
We imagine there will be many changes and iterations to come, and can’t wait to build this in tandem with all of you.
