Connect Track Earnings to a Smart Contract using SHARE SDK

This guide gives step by step instructions for creating a smart contract and connecting it to a track distributed by Symphonic.

This feature is currently in pilot stage and is available to select Symphonic customers only. If you're interested in working with us, please email [email protected].

First, please ensure you've followed these prerequisite steps:
1. Signed up for a Business & Developer Account which includes API access.
2. Add SHARE Protocol as a Payee in Symphonic.
3. Assign Royalty Splits to SHARE Protocol for your track.
4. After assigning royalty splits to SHARE, you will need to wait until our system synchronizes tracks from Symphonic, which happens weekly on Fridays. You can proceed with this guide in the interim, but be advised that smart contracts will not receive revenue until tracks are synchronized. If you need to fast track synchronization, please send an email to [email protected] and we'll do our best to accommodate.
Navigate to Symphonic -> Split Share -> Tracks.
Copy the ISRC and UPC codes for your track. For example ISRC GBRKQ2173603 and UPC 193872934235in the image below.

Create a digital property with revenue sharing smart contract using SHARE SDK. Earnings from DSPs will be connected to the smart contract using the revenue_source field which includes the distributor, ISRC and UPC codes.

curl -L -X POST 'https://share-ddn.formless.xyz/v1' \
-H 'Content-Type: application/json' \
-H 'Authorization: Bearer <API_KEY>' \
-d '{
    "jsonrpc": "2.0",
    "id": "2",
    "method": "contracts_create",
    "params": {
        "type": "digital_property_with_revenue_share",
        "network": "polygon",
        "title": "CELEBRITY / BLACK TUXES",
        "description": "80/20 split from Spotify and Apple Music.",
        "creator_name": "Brandon Tory",
        "revenue_source": {
            "distributor": "symphonic",
            "product": {
                "isrc": "GBRKQ2173603",
                "upc": "193872934235"
            }
        },
        "revenue_share": {
            "recipients": {
                "[email protected]" : 40,
                "[email protected]" : 40
            },
            "community_allocation_percent": 20,
            "community_split_count": 20,
            "distribution_unit": {
                "value": 0.05,
                "currency": "USD"
            }
        }
    }
}'

In the command above we've already added collaborators to the splits, [email protected] and [email protected]. They'll each receive 40% of earnings, and if they don't already have one, a FORMLESS account and digital wallet will be created for them. Collaborators will receive an email like this when added to the splits:

(Optional) If you're sharing revenue with fans, invite people to join in the revenue sharing experience by copying the join_splits_url . If you're not sharing revenue with fans, you can skip this step.

{

  "jsonrpc": "2.0",
  "id": "2",
  "result": {
    "status": "success",
    "code": 200,
    "network_id": 10,
    "blockchain_name": "optimism",
    "revenue_share_smart_contract_address": "0x12ccE423000299FDd6681b081125E620F4eb6890",
    "digital_property_contract_address": "0x48209bb921259Fb4F3740414Ecc0A0013922a45c",
    "digital_property_contract_id": "8bfd3d5f-4d12-41f8-b8c4-ab81aa978456",
    "join_splits_url": "https://share.formless.xyz/splits/polygon/0x48209bb921259Fb4F3740414Ecc0A0013922a45c"
  }
}

(Optional) You can also customize your link by adding the Spotify and Apple Music links to the metadata. This is completely optional and has no impact on the royalty revenue flow.

curl -L -X POST 'https://share-ddn.formless.xyz/v1' \
-H 'Content-Type: application/json' \
-H 'Authorization: Bearer <API_KEY>' \
-d '{
    "jsonrpc": "2.0",
    "id": "2",
    "method": "contracts_metadata_write",
    "params": {
        "contract_id": "8bfd3d5f-4d12-41f8-b8c4-ab81aa978456",
        "metadata": {
            "preview": {
                "linked_metadata": [
                    {
                        "visible": true,
                        "name": "SPOTIFY",
                        "uri": "https://open.spotify.com/track/3r8hQGdAEuZZRDMRzvivib?si=a9c65070c25744d6"
                    },
                    {
                        "visible": true,
                        "name": "APPLE MUSIC",
                        "uri": "https://music.apple.com/us/album/celebrity-black-tuxes-feat-bankxy-izz508/1582053240?i=1582053245"
                    }
                ]
            }
        }
    }
}'

Once your join splits link is created you can sharing it in engaging ways on social media. For example, by telling your followers that the first 100 people to reshare a post get splits on the song. This is completely up to you, and you can read our case studies here on how others have succeeded.

Important Points

Your fans and collaborators do not need to know anything about cryptocurrency to get their splits. It is all done through email and is as simple as pressing the JOIN button on the link.

Your fans and collaborators do not need to know anything about cryptocurrency to cash out their earnings.

Tracks with large amounts of splits result in small micropayments being paid out to split owners over time instead of all at once. This means that over the lifetime of the track, all split owners will be paid out equally, although on a given day some may earn more than others. This design overcomes the challenge of paying out small amounts of money to lots of people at once without incurring prohibitive fees.

Done! Next, learn more about Receiving Realtime Royalty Payouts and Cashing Out to Your Bank.

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Last updated 5 months ago