Jim Jones is a rap veteran who’s continued to drop new music, but also still has his eye on more ways to build his stature when off the mic.
AfroTech previously shared a story about his digital coin, Capo Coin, which was minted in partnership with blockchain platform Zaptheory in 2021. As the recent crypto supporter has tapped into how the space is helping people create wealth, he’s now created what he believes is a “$1 billion idea” that could disrupt the music industry.
According to CNBC, Jones has announced his new software company, Quarantine Studios — a metaverse music-recording platform — along with his business partner Jarman Hauser.
The company’s technology — backed by its partner AWS — allows for artists to be able to record anywhere in real-time with an engineer that would work with them virtually. While the tools that are offered lessen studio recording costs, it also aims to give musicians access to services from legal to marketing.
Quarantine Studios aims to be a “one-stop-shop bringing artists services as they advance in their music career,” according to the outlet.
“We provide all of the services that a record label provides for all artists, such as myself, no difference,” Jones said in an interview with CNBC. “So if you were looking for a publicist, marketing, video promo, radio promo, publishing — whatever department that you see fit from the record label side, we provide the services.”
He continued: “We can charge the fans the premium to come in the studio when we’re creating records. It’s so many things that we can go about doing this in. It’s bigger than just the music, you can do pretty much real business on this platform.”
While currently in its infancy stage, the co-founders are reportedly seeking for investors to join in the quest of shaping the industry to current times. Currently, they’re seeking a $10 million raise to bring the innovative idea to life.
“I would tell people you know where music has been, but I don’t think you know where music is going,” Jones responded when asked about why investors should join. “And the same way that people are leading toward cryptocurrency, the metaverse and NFTs is the same thing. This is digital technology where the music can be recorded, heard and business done inside of a digital platform. And this hasn’t been done yet.”