Q1: How much do I get when I sell my Digital Pressing?
For primary market sales (sales from artist to fan), you receive 70% of the revenue generated. For secondary market sales (fan to fan), the artist team receives 15% of the sale amount each time the Digital Pressing trades hands.
NB: Payment processing fees from our payments provider, Stripe, are charged on the total transaction value before any splits are made and vary depending on what country or region the payment came from. You can expect a ~30c (USD) flat fee + a small percentage (2-5%) of the total transaction value to go towards processing.
Q2: How do I get paid?
Serenade pays artists in USD on a monthly schedule. This is done through our payment provider, Stripe.
In order to receive your payments, you must create a Stripe Connect account, which can be done within your Serenade Account, accessed via your profile.
This is as simple as selecting your home territory - for instance, the UK - and inputting the fields they require. Once set up, simply add your deposit details and we'll take care of the rest.
If you need help setting up your Stripe Connect account, please refer to their Support Articles here or reach out to a Serenade team member at firstname.lastname@example.org for assistance - we’re happy to help!
Q3: What happens to my Digital Pressings after I sell them?
When a fan buys your Digital Pressing, it is deposited in their Gallery, or online record collection, that captures all the wonderful tunes the fan has selected. This Gallery is connected to a digital wallet that holds the Digital Pressings safely, but we do all of this fancy technical stuff behind the scenes so fans can just spend their time on Serenade thinking musical thoughts.
Owners can transfer their Digital Pressings off-platform to any other web3-enabled product to sell or display that work. Your original royalty will be honoured in all marketplaces that support your smart contract, meaning the opportunity for more payments long into the future.
Q4: Do I still own the intellectual property of my work after I sell my Digital Pressings?
Of course! Serenade is a place for selling digital collectibles, not copyright. Artist teams retain full ownership over their intellectual property.
Q5: Can I delete or change my work after creating and selling it?
Like selling a CD at a gig, once a Digital Pressing is in a fan’s hands, it’s out of your control. Once created, Digital Pressings are here to stay.
Q6: Do I still get paid if my Digital Pressing gets sold on another platform?
Secondary markets are sneaky things, and they don’t always honour royalties. We do our best to ensure you get paid in perpetuity by linking to OpenSea, who we have a relationship with, and embedding your royalties in the Digital Pressing’s smart contract.
Q7: How secure are the digital collectibles I release through Serenade?
Very. Your works are securely stored on the Polygon blockchain. The transaction history of each collectible is immutable, with ownership staying publicly visible and verifiable. The metadata for your NFTs are also stored on IPFS (Inter-Planetary File System), a decentralised storage provider which means that, in the unlikely event that Serenade crashes and burns, your NFTs will always be visible. So, you can sleep easy knowing your art will be protected, forever.
Q8: How are the rights associated with my Digital Pressings managed?
As the creator of a Digital Pressing, it’s your responsibility to obtain clearance of all rights, including the rights of any third-party contributors, owners or copyright holders.