SongVest is a platform to invest in songs. You can receive earnings quarterly by purchasing fractional shares of music royalties.
The fractional shares are called “SongShares”. First, they are sold at auction, the name of which is “VIP Auction”. Investors can bid for it to reserve the number of units they want.
After an auction closes, the U.S. Securities and Exchange Commission reviews the offering. Then, after SEC’s approval, the winners purchase the SongShares. They can buy up to as many units as they reserve.
The rest of the shares will be open to the public at the same price. The holders can’t sell them because there is no secondary market now.
SongShares are neither crypto assets nor NFTs, but the transactions are recorded on the Tezos blockchain.
(As of May 29, 2023)