TL;DR:
- Pixelynx and KOR Protocol are disrupting the entertainment IP sector with AI and blockchain technology.
- Over $50M in funding has been secured from major investors like Animoca Brands and Solana.
- Black Mirror experience generated over $250,000 in sales in just 2 hours.
In the ever-evolving world of entertainment, one startup is making waves by leveraging the power of AI and blockchain technology. Pixelynx and its flagship product, KOR Protocol, are transforming how creators monetise their intellectual property (IP). This innovative platform is not just a game-changer; it’s a revolution in the trillion-dollar entertainment IP sector.
The Birth of Pixelynx and KOR Protocol
Back in 2020, CEO and co-founder Inder Phull met with Grammy-nominated artists deadmau5 and Richie Hawtin. These meetings were pivotal in accelerating Pixelynx and KOR Protocol to what it is today. Inder’s journey into blockchain began in 2014 when the concept was first introduced at the International Music Summit. Despite initial scepticism, Inder’s vision to address key challenges in the music industry through blockchain technology attracted attention from global organisations like Microsoft and Beatport.
From Music to Entertainment IP
What started as an interactive music platform allowing users to co-create music with artists through AI tools quickly evolved into a suite of products powered by the KOR Protocol. The company now boasts over 100 international partners, including Beatport, Japanese telecom giant KDDI, and Banijay (producers of Black Mirror and Peaky Blinders). These partnerships have resulted in interactive experiences and mints that appeal to global fan communities.
One notable success story is the Black Mirror experience in partnership with Banijay and Base. This collection sold out immediately, generating over $250,000 in sales in just two hours. KOR Protocol is designed to enable IPs to bring their assets on-chain, powering new use cases such as authenticated on-chain AI model training.
Early Years in Crypto
Inder’s fascination with cryptocurrencies began when he discovered a project by songwriter and producer Imogen Heap. Years later, he met Ben Turner, the founder of the International Music Summit and a long-time manager of Richie Hawtin, who introduced Inder to Dean Wilson and deadmau5.
KOR Protocol seeks to develop viable ways for creators to monetise their IPs through blockchain technology. For instance, songs from deadmau5’s record label mau5trap have been remixed over 100,000 times through user-generated content and distributed on streaming platforms to earn royalties and rewards.
The Newest IP Brainchild
The self-service platform allows users to create IP-based experiences powered by the KOR Protocol. Users can browse content from over 500 IPs, build AI-based music experiences through its KORUS, or interact with partner IPs like The Black Mirror Experience to create unique stories and NFTs.
The company aims to serve IP holders and independent artists who lack the infrastructure, resources, and networks to gain visibility and monetise their work. KOR Protocol offers a decentralised solution where independent artists can directly manage and monetise their IP, reach global audiences, collaborate with new partners, and engage with fans in different ways.
Empowering Creators
With features like automated royalty distribution, on-chain rights management, and community governance, independent artists can ensure fair compensation and have a direct say in the protocol’s development. Additionally, the open-source culture of KOR Protocol connects artists with technologists, fostering collaboration and innovation through these new mediums. This empowers them to compete on a more equal footing with established artists, fostering innovation and creativity across the board.
Safeguarding Artist IPs
KOR Protocol uses various smart-contract technologies to safeguard artist IPs, providing a secure, on-chain repository where creators can manage their assets. The platform is working towards the KOR DNA metadata standard, which will ensure that all content is accurately documented and protected with key licensing and usage data embedded into the assets through decentralised content identifiers. Additionally, KOR Protocol integrates user verification processes and partnerships with leading security firms to maintain the integrity of the network.
Growth Strategies
KOR Protocol aims to scale globally by continuing to expand through various IP partnerships with iconic creators and brands, through community building, and by developing a robust infrastructure. As far as monetisation for artists is concerned, KOR Protocol addresses digital rights management (DRM) and compensation for artists in a decentralised environment through several mechanisms. By leveraging blockchain technology, the protocol ensures transparent and immutable recording of all IP rights and licensing information, making it easy to track and verify usage. Automated royalty distribution via smart contracts guarantees that artists are paid fairly and promptly whenever their work is used or sold.
A Post-Hype Platform
KOR Protocol sees the blockchain-based IP management system moving beyond its current speculative phase into providing more practical utility long term. The early success through initiatives in partnerships with Black Mirror and deadmau5 demonstrates the tangible value that the product can create. Despite the volatile shifts in the Web3 landscape, Inder remains bullish. “In the ’90s, web developers were the pioneers of a digital frontier. Today, blockchain-based applications are the new frontier, and soon, it will be the standard. If you’re not on board, you’re not just behind—you’re missing the future of innovation and creativity.”
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- To learn more about one of the key investors in KOR Protocol, Animoca Brands tap here.
