The pop music market in the past had a clear division between producers and consumers. Today, however, the public are consumers and also producers at the same time. The activities by fans supporting their musicians are not only productive activities that independently create added value, but also act as secondary contents that are shared with both artists and fans who enjoy their music. In fact, the activities and the contents generated by the fandom are sometimes a decisive factor in bringing artists and their music to success.
However, in the traditional market, there has been no attempt to track and measure the impact created by the activities of the fandom, nor to provide fair rewards for them. Fans who contribute to the increased popularity of artists are not rewarded for their efforts and contributions, and they ironically become more distant from artists they support as artists gain more fame. In addition, web portals and social networking services, where most fans engage in their supporting activities, earn profits through such activities but do not share the earnings with the contributing fans.
We present STAYGE Network, the new ecosystem for artists and fans, and a cryptocurrency, STG. STAYGE Network uses blockchain technology to tokenize the artists’ fandom to provide a fair evaluation and reward system that is independent of specific companies and services. The value of fan activities that historically have neither been measured nor recognized will now be fairly evaluated by this community and be substantialized through a cryptocurrency, STG.
STAYGE Network will gear towards healthy and sustainable growth in the entertainment market. Activated communities through rewards systems encourage the participation of artists, investors and various stakeholders in entertainment industries. Through their voluntary participation, a variety of services such as media production, crowdfunding, ticketing, and commerce can be provided in STAYGE Network. Moreover, it will act as a peer- to-peer platform that does not involve any unreasonable fee structure. The economic ecosystem created by STAYGE Network will share the added value with every contributor. We strongly believe that it will be a foundation of the sustainable growth of the ecosystem.