Netra is a revolutionary Indonesian technology that is set to change the music industry in Asia. By utilizing blockchain and web3, Netra is bringing innovation and new opportunities for both local Indonesian musicians as well as international ones. Through this platform, fans are given the chance to own intellectual property rights of their favorite songs while also earning royalties every time they’re played. This groundbreaking concept provides an alternative income stream for creators and allows them to have full control over their works. Netra’s main focus is to become a platform where musicians can freely express themselves without any limitations or restrictions.
Performance Since Launch In March Of 2022
In the first year since launching in March 2022, Netra has seen tremendous success and growth. Their first Fractional Music Asset (FMA), Dewa Budjana, won an AMI Award and gained international recognition. This enabled Netra to expand their scope of operations by introducing non-custodial NFT’s with fiat/IDR payment. This allowed users to purchase Netra FMA without having to put assets into a centralized party and further opened the industry up to Indonesian musicians.
Netra’s accomplishments were recognized on an international stage when they were invited to AsiaBerlin Summit in October 2021, representing web3 startups from Asia. They also gained a lot of media attention with features in Surabaya Liputan6.com and Tribunnews Mobile.
Since launch, 19 Indonesian artists have joined forces with Netra and more than 100 are set to join by 2023. The platform has already sold more than $184K worth of FMA and streamed 3 million times across various platforms. As a sign of their commitment to Indonesian music and culture, Netra has also distributed over $11K worth of royalty among loyal holders.
Netra’s Founders’
Setiawan Winarto is the CEO and a co-founder of Netra. Before his success with Netra, he spearheaded Melodia Music — one of Indonesia’s largest music instrument stores alongside their extensive audio-visual distribution services. In recent years, Setiawan has become an influential figure within the Asian music industry.
Bryan Blanc is the co-founder and COO of Netra, having previously founded Quadmos – the first advanced Web-based augmented reality (WebAR) company in Indonesia. Bryan has a wealth of experience in Indonesian technology and innovation, having also founded Perzegi – a digital media production studio.
Andy Fajar Handika, one of the inspiring Indonesian founders of Netra and comes with a wealth of knowledge. Having earned his MBA in Economics from Universitas Gadjah Mada (UGM) in Yogyakarta, as well as being the previous founder of Kulina. Kulina pioneered the cloud kitchen trend in South East Asia and was also the only Indonesian startup that got accepted into Google Launchpad Accelerator Programme batch 5 (2018) in San Francisco, CA.
As Andy puts it himself, “Netra has been on traction to bring most of the major Indonesian musicians and bands into web 3. We look forward to be a trusted partner and platform to fractionalize from mechanical royalty to intellectual property for musicians, label, publishers for web 3. Can’t wait next year when we expand further to broader Asia market.”
Netra’s Impact and Growth
Netra is having a tremendous impact on Indonesian music and the music industry as a whole. By using web3 technology, the platform has made it easier for Indonesian musicians to own their intellectual property and earn royalties from their songs. This has helped open up new doors of opportunity for Indonesian artists and allowed them to more easily monetize their work. Netra has also changed the way Indonesian music is consumed, as fans have now been given the chance to own their favorite songs.
Netra has also partnered with some of the largest Indonesian e-wallet and payment platforms, giving users more options for purchasing Netra FMA. This includes GoPay Indonesia, OVO (PT Visionet Internasional), DANA, as well as any QRIS standard payment. Not only that, but Netra has also made it possible for Indonesian fans to pay for their FMA using Indonesian convenience store chains such as Indomaret Group and Alfamart.
As Netra continues to grow and expand, its reach is quickly stretching far beyond Indonesia’s borders. The company has recently taken the initiative of hiring part-time A&R Representatives in Malaysia, Singapore, Thailand, Japan, Philippines and Vietnam – signaling that we should expect some new tracks from these countries very soon. It isn’t surprising that Netra aims to scale globally; after all with no limitations placed on them by geographical boundaries or physical distance as a barrier between their fans and artists alike… who knows where they’ll end up?
Personal Netra Experience
When I was looking up my favorite Indonesian musician’s concert schedule, I stumbled upon a link to Netra and decided to check it out. Literally within minutes, Netra had become a personal experience for me! With just a $35 USD or 500.000 IDR investment, I became token number 29 for Monita Tahalea‘s song “Have Yourself A Merry Little Christmas”. While I won’t be expecting consistent returns from this seasonal song, the rate at which my token has been growing thus far has been more than satisfactory – over the month that I’ve owned the token, I’m proud to have seen an increase of almost one US dollar.
As an interested but far-from-expert user of web3, however, I have some frustrations with the site. The user friendliness is simply not there for a novice like me, as certain features are far from self-explanatory and assume an understanding beyond that of most casual users. My suggestion is therefore to make usage of Netra more akin to something like Robinhood – simple but powerful, understandable by the average consumer – to reach out to a wider audience across boundaries language, geographic or otherwise.
Conclusion
Netra is Indonesian technology and innovation at its best – a web3 platform that allows Indonesian musicians to own, monetize and distribute their intellectual property. By partnering with major Indonesian e-wallet and payment platforms, users can now purchase Netra FMA using Indonesian convenience store chains such as Indomaret and Alfamart. Furthermore, Netra has taken the initiative to hire part-time A&R Representatives in several countries, signalling that Indonesian music and culture will be reaching more people beyond its borders. My short but sweet experience with Netra as a user highlights how simple it is to invest and own tokenized music, although I think they should work on making the platform more accessible for novice users.
For Indonesian musicians, fans and tech enthusiasts alike, Netra is a glimpse into the future of music ownership and distribution – giving Indonesian music a platform to be heard around the world. With no limitations placed by geographical boundaries or physical distance as a barrier between their fans and artists alike, we can look forward to hearing more Indonesian music and stories from around the world. Who knows how far Netra will go?
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