What are Cosigns?

A new way to express your music taste and celebrate artistry onchain đź’˝

Cosigns provide an affordable way for fans to support music on Catalog while upholding the value and 1-of-1 nature of Catalog records. Fans can cosign records they love on Catalog Radio to receive a high quality download, their name on the record page, and an onchain memento. Artists may also choose to provide other benefits to their onchain list of supporters.

Importantly, we don’t view cosigns as “collecting” music NFTs in the traditional sense. Instead, they serve simply as an onchain endorsement of a song — a new, more accessible unit of support for music makers. Cosigns are infinite supply, non-transferable, and priced at .001 ETH.

How do cosigns work?

  1. Artists press 1-of-1 records on Catalog just like they normally do, with an added option to enable cosigns for their record. With cosigns enabled, records can automatically be cosigned on L2 as soon as they’re pressed, no bridging required. All cosigns will be created under a shared Catalog collection.
  2. Fans pay .001 ETH (~$3 currently) to cosign a track, minting a non-transferrable, infinite supply ERC-1155 token to their wallet for every cosign, visually represented by the record’s cover art, akin to a memento. By cosigning, fans receive a high quality download, their name on the record page, and any other rewards that an artist may choose to provide to their onchain list of cosigners. We’re actively exploring other benefits and rewards for cosigning.

Pricing

Rather than abstract platform fees into a free mint model, where take-rates can exceed 30 to 40%, we strive for transparency with the pricing of cosigns.

Onchain splits are honored on cosign revenue just as they are on record sales. Artists will continue to receive 100% of revenue and resale royalties on sales of 1-of-1 Catalog records.

Opting Out

Nearly all existing Catalog records have cosigns enabled. We believe this significantly broadens the avenues for artists to receive support for their current and future music, as well as for fans to enjoy their time on Catalog.

That said, we deeply respect an artist's autonomy over their work and how it’s monetized, so we made it easy for artists to opt out of this feature for their existing and future records. Artists could opt out of cosigns for their existing records at any time before January 11th, 2023, and may continue to opt out future records during the upload process.

Don’t hesitate to message us on Discord in #support or #member-support with any questions.


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