“This isn’t a funding site, this isn’t like ‘please help me’. This is I’m here; let’s do this together.”

Matt Sorum, Rock and Roll Hall of Fame drummer – formerly of Guns N’ Roses, Velvet Revolver, The Cult, and Kings of Chaos – is dedicating himself to helping struggling artists.

At iconic conference and festival SXSW, where tech luminaries like Elon Musk, YouTube’s Susan Wojcicki and Uber’s Bozoma Saint John have taken the stage, Matt Sorum unveiled Artbit, a distributed-ledger platform that allows both artists and fans to share and monetise artistic talent from anywhere across the globe.

Artbit addresses the issue of little monetary return for emerging artists in our digitally-led music industry. Upon launch (the date of which is still to be confirmed) Artbit users will be able to produce live shows and performances through the platform, linking locations to any of Artbit’s virtual stages.

“We made a decision of yes, we’re going to bring brands in,” said Sorum in an interview with TIO at SXSW. “But we’re going to try to get brands more bang for their buck and we’re going to give fans and consumers and content creators an option to choose who they want to be affiliated with.”

Sorum said brand affiliation won’t be as blatant as some of the product placements we see in music videos and on artists’ social pages, however.