Music royalties, explained.

The manifesto: why creative work is the internet economy's investable asset, and why music goes first.

The practical guide: minimums, yields, regulations, and where to start.

Why the token era collapsed and the regulated version is what survives.

Master vs publishing, who pays whom, and how a stream becomes a check.

SongVest, ANote, Royalty Exchange, and Encore, top-down vs bottom-up.

Full sale, selling a percentage, royalty loans, or raising from fans, and what to watch.

Fractional catalog shares, realistic yields, and the risks nobody mentions.

Multiples, decay curves, and what independent catalogs actually sell for.

Label advance, royalty loan, or fan raise — the real costs of each.

Reg CF and Reg A+ in plain English — why this is legal now.

Per-stream rates across platforms, and how to turn streams into income math.

Legality, minimums, risks, payouts, and how artists list catalogs.