African music service uduX has partnered with Nigeria-based FinTech company PiggyVest to launch a new fan investment vehicle called PopRev.
Launching in mid-May 2021, PopRev will let fans invest in artists’ music by buying shares in their works, with the first round of artist investment opportunities to be announced shortly.
According to the two companies, the PopRev platform “fuses elements of crypto-currency, social networking, and influencer nodes”.
Fans will be able to track their investments via the uduX platform (online and in-app), as well as obtain real-time insights into the streaming performance of the music they’ve invested in.
PopRev will also allow investors to invite friends to the uduX platform to listen to the artists’ music and investors stand the chance to win “real-time experiences” with these artists.
PopRev is the first-ever music product from PiggyVest, an online savings and investment platform with over 2 million customers.
The company originally launched as Piggybank.ng in January 2016 and rebranded to PiggyVest in April 2019 when it started offering direct investment opportunities in addition to online savings.
uduX claims to be “the first African-owned streaming platform to have all three global major record companies signed to its service”.
Source: Music Business Worldwide