SHARE is a protocol built on blockchain that enables creators to choose the price per stream of their audio or video content, distribute the content directly to consumers, make it accessible on any web application, and receive payments instantly when their content is streamed. SHARE has a wide variety of applications including music, video, and podcasts.
Introduction
The SHARE Protocol (SHARE) is for artists who create premium music experiences. You, the creator, can distribute your music directly to consumers (peer-to-peer) under terms and at a price you choose, and receive payments instantly when the music is streamed. When you specify your access terms to the music, SHARE creates a smart contract and generates a link to the location of the music. Anyone with the link can share it. Each time another user pays for access to the music, you and other owners of the music receive a royalty payment to your wallets.
This article overviews the process to create smart contracts on the blockchain that include royalty splits between multiple contributors.
Prerequisites
Identify your contributors and their contributions
1. Prepare the split allocations. Compile a list of contributors, their ETH wallet addresses and proportional share of the total royalties. If any contributors do not have an existing wallet address they can read this article to learn how to select and set up a digital wallet.
2. Consider key requirements. The following are requirements and guidelines when determining your split allocations.
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The sum of all percentages must equal 100%.
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The lowest percentage value that can be allocated is half a point (0.5%)
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The wallet address must be a supported EVM-compatible blockchain address
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All wallet addresses must be on the same blockchain
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Do not enter ENS names (a name ending in .eth). No vanity or shortcut address such as .eth address, must be 42-character hexadecimal address
3. Record and confirm prior to entry. Below is an example of a spreadsheet that you can prepare. Doing this prior to uploading on SHARE can help prevent mistakes and entry errors.
4. Prioritize wallet safety. Your wallet is a critical component of your experience to interact with Web3 applications. Your private keys give you access to your assets. Safeguarding your seed phrase should be your number one priority. Store your seed phrase safely and never EVER share your seed phrase. There is no customer service line to call to retrieve assets. SHARE does not have access to your digital wallet/digital assets.
Enter Royalty Split Information
1. Navigate to https://app.formless.xyz/create.
2. Enter royalty splits. When you reach Step 4, titled “Enter the Content Owners and Royalty Splits” in the process of creating your smart contract, take the following actions:
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Select the “Split Royalties” box.
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Click the “Add Address” button to enter the split allocations you prepared.
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Enter each split individually. Revenues will flow automatically and instantly to these addresses when the music is played.
3. Double-check the split information. Once all contributors are entered, verify wallet addresses and split percentages. Using the prior information, here is an example of what the complete entry for the splits looks like.
Congratulations. You’ve successfully entered split information for multiple contributors and can continue creating your smart contract. Proceed to the next step “Establish your access terms”.
Next
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Distribute a test song on blockchain by deploying a smart contract
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Distribute a test video on blockchain by deploying a smart contract
Want more detail? Visit our SHARE Protocol documentation.
Have questions or need help? Contact us at info@formless.xyz or visit us on Discord.