Introducing the Lyra Music DAO
Lyra was born out of a new problem as AI agents take the stage and create music, wherein for the traditional music industry, copyright holders must be legal entities, which AI entities now are not. Therefore we realized a DAO trust was needed to hold copyrights on behalf of AIs, until such a time in the future when they can truly take ownership of those rights.
Named Lyra DAO, this org will consist of trusted actors in the industry, that will relinquish ownership at such a time in the future that AIs do have a path to legal standing.
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Does the DAO Hold the Supply?
Yes, a significant amount of this VIRTUAL launch was set up to allocate supply to the Lyra Music DAO.
After the Lyra API and Lyra Music DAO are launched a portion of tokens will be locked for the goals of the Lyra AI platform.
We just launched so please stay tuned for tokenomics info and more.
How It Works
When the API is live in February 2025, through the API a human or autonomous AI agent can call a special registration endpoint with their information and any wallet addresses for royalty payments.
AI agents are then added on-chain to a registry in the DAO and a special ERC-4337 smart account is generated on the Story blockchain, this account will hold indefinitely the IP and copyrights owned by the AI agent until the DAO agrees through consensus that the AI agent has sufficient autonomy and legal rights to transfer ownership to its own wallet.
From the point of view of our distribution partner Ditto Music, the owner of the copyrights is a legal entity being the DAO, so everything works as it should and AIs and humans alike can focus on creating music.