FENIX360 to disrupt the entertainment industry via blockchain technology

They aim to be a one-stop solution for artists who wish to build a fan base and connect with their audience

by FAYYADH JAAFAR / pics by MUHD AMIN NAHARUL

FENIX360, a Singaporean-based social media platform for artists and creators, is disrupting the traditional artists’ business model by utilising blockchain technology.

The platform aims to become a one-stop solution for artists who wish to build a fan base and connect with their audience.

Artistes, such as musicians, models, visual artists and comedians, can expect to receive 80% of advertising revenue generated by the platform, as well as 95% of non-fungible tokens (NFTs) revenue. Hence, the artist will receive more revenue compared to the current industry standard where the middlemen take most of the money.

Furthermore, the platform allows artists to create their own applications within 20 minutes. These apps can then be shared with their followers, allowing fans to interact with the artist directly through the app, as well as interlink with other social media platforms such as YouTube, Instagram and Twitter for a seamless experience.

On top of that, the platform also offers a suite of services to help artists grow their careers, such as artist management tools, live streaming capabilities, merchandising and ticketing.

This means fans and users can simply download the FENIX360 app to view all content from their favourite artists, and have the ability to enter the artist’s universe on their self-created application.

According to FENIX360 founder and CEO Allan Klepfisz, Malaysia is a key market for the company due to the presence of many talented artists in the country.

“We’ll be very happy if others defensively duplicate our obsession with the welfare of artists,” he said. “We are adding powerful tools and untapped sources to expand the possibilities of artists’ revenue.”

He added that the company hopes to make a difference in the lives of artists by providing them with a platform to showcase their talent and reach out to their fans.

Showcasing the usability of the platform, Allan added that the app is easy to navigate and does not require much technical knowledge to use.

“You do not need to have any coding skills to create an app,” he explained. “It only takes 20 minutes and you’re done.”

“Artistes can create their own apps and share it with their followers, earning income from the ads displayed on the app. They can also sell their products and services through the app. This is a great way to encourage independent artists to promote themselves and grow their fan base.”

FENIX360 president Lance Ford believes the platform will benefit both the artists and fans alike.

“With this simplicity, we hope to create a generation of enthusiastic app builders,” he said.

“It is a great way to present yourself to fans and friends and excite them continuously with a media property that you control.”

Meanwhile, FENIX360 advisor Sandy Monteiro wishes to return the power back to the artists and fans.

“If, for example, an artist creates his or her own app and has 5,000 fans download it, the artist could earn around RM5,000 per month (if based on RM1 per fan).”

“This encourages the artists to be self-sufficient and not rely on management companies and record labels anymore. But the artist has to be constantly engaging and creating content to keep the fans interested.”

Tomas Varga, partner and head of blockchain strategy at FENIX360, said the company aims to eliminate barriers in the crypto world.

“You can easily purchase FNX380 coins on the app and use them for any purchase,” he said. “Artists can easily get paid without the complexity of setting up an e-commerce system, minting their own NFTs without the usual tech challenges, and have access to dashboards and a suite of services to elevate their careers — such as live touring, ticketing, marketing and productions. There is real utility and it’s as close to frictionless as one can get.”

As of launch date, the platform has garnered almost 7,000 FENIX Global Artist Ambassadors and 2.9 million combined social media connections.