Have you ever heard a song and knew it was going to blow up?

We built a platform to prove that - and it's called Coop Recs.

It combines all our learnings from 3 years selling collectibles and 6 months of launching songcoins in a way that benefits both the artists and fans.

With Coop Recs 2.0 - all songs start as presales with a fixed supply of collectibles. 

When they sell out, a new coin is launched for fans to trade.

Here’s what you need to know.

Every new song on Coop Records starts as a presale - typically 2500 or 5000 editions priced at 0.0004 ETH ~$1.50 a pop.

Presales are how fans prove that they were early to a song - being a part of the first group of buyers who found a track before it blew up.

You get a collectible on your profile - proving early fan status prior to trading going live.

Presales help artists get paid, with the vast majority of every dollar spent going directly to the artist’s pocket.

This also acts as a buffer to gauge which songs have real demand to graduate into coins and unlock an additional layer of trading.

We’ve launched 17 songcoins on Coop Recs to date.

This includes viral tracks like The Days ($DAYS), We Rise ($RISE), Tell U Straight ($TELLU) and a variety of others.

Each songcoin was hand-selected and rolled out as a white-glove service directly with the artist.

However - not every song is popular enough to merit being made into a coin, and the revenue earned from new coins was lower in aggregate than the same song being sold as a collectible.

It was difficult to explain the difference between coins and collectibles to artists - especially when the two experiences were disconnected from one another.

Collectibles get artists paid up front, and coins offer additional exposure to the wider crypto audience.

With Coop Recs 2.0 we removed this bottleneck thanks to automatic graduation.

When a presale sells out, a new coin is launched with the following distribution.

The Top 100 Fans of the Presale share 25% of the supply unlocked linearly over 30 days - giving them a reason to come back to the site to claim their rewards.

This graduation process also ensures that the long-tail of songs are able to generate more revenue for the artist up until a sufficient level of demand has been achieved.

We believe this model offers a unique way for artists to get paid up front, while still leaving room for trading to occur as a song reaches a larger audience.

With Coop Recs 2.0 - we updated our song pages, artist pages and user profiles.

Song pages automatically change from a presale to a coin upon sell out.

We’re displaying more stats around songs too - including total streams to better gauge a track’s success in the real world.

This is also true of our new Artist Pages - where each profile now shows how many Spotify Followers an artist has along with their current popularity score on a scale of 1-100.

We’ve merged an artist's coins and presales into one page - easily letting you see which coins have already been launched, and which songs are eligible to graduate.

And last but not least - user profiles now display Portfolio Value in a condensed view with both coins and collectibles so you can see how much someone’s holdings are worth, along with which tracks they were earliest too based on the collectibles they hold in their library.

Top that all off with a new wallet module to easily view your holdings and claim coins as they unlock and we’ve got an end to end site for music discovery.

We’re extremely proud of the 800+ songs that we’ve launched on Coop Recs to date.

However - this new format is one that requires artist approval, so every track that was live on the site prior to the announce of Coop Recs 2.0 will now be treated as a legacy track.

This means that they will not automatically graduate to coins, as indicated directly on the legacy song pages.

You can still purchase editions of these songs, but we’ve removed the progress bar and moved these to a separate part of our site to avoid confusing on old songs graduating into coins.

We’d like to think all our 150,000+ collectors who have supported us during Coop Recs 1.0 and hope this new chapter can directly improve the behavior that’s been established for the last few years of building our platform.

We’ll be taking all this and packaging it into a mobile app that’s easily accessible for real music fans.

A few months back we rolled out an onboarding flow that featured email sign-ups, embedded wallets and Coop Credits.

Thanks to this new foundation, we’ll now be focusing our efforts on getting Coop Recs into the app store and making it dead simple for anyone to start trading without knowing anything about crypto.

We’re working closely with Doppler to upgrade our songcoins to their latest protocol - offering higher artist rewards and more dynamic distribution around incentives.

All that goes to say - Coop Recs 2.0 is a major step forward for our platform and we couldn’t be more excited to bring it to the masses.

We hope you enjoy it as much as we do - and look forward to bringing more songcoins to the world soon!