Hume

About Hume

Hume operates as a Web3 record label and in-house entertainment studio, focused on creating and developing virtual music artists known as "metastars". The company's business model is designed to navigate the limitations of the traditional music industry by integrating music, digital identity, and extensive storytelling within the metaverse.

The company was co-founded by CEO David Beiner, a tech and media strategist who was exploring blockchain technology, and Chief Artist Officer Jay Stolar, a songwriter and producer with credits for artists like Selena Gomez, Demi Lovato, and Aloe Blacc. Their collaboration grew from a shared frustration with the music industry's structure and a desire to create virtual artists with compelling, deep backstories, a concept they had pitched to a major label as early as 2019. The founding team possesses a collective background from major entertainment and tech companies including Sony Music, Universal Music Group, Warner Music Group, Nike, and Google.

Hume's core offering is the creation of these metastars, which are developed internally by a team of writers, producers, animators, and publicists. These virtual artists exist and perform in both digital and physical worlds, blurring the lines between the two. In 2021, Hume debuted its first metastar, angelbaby, an NFT character acquired from the FLUF World collection who has since released music and performed at events like Art Basel and SXSW. The business generates revenue through the sale of music and merchandise via non-fungible tokens (NFTs). A key part of Hume's model is a creator-centric approach, where songwriters and producers are paid upfront and receive a share of royalties and an NFT of the song.

A central feature of Hume's strategy is direct fan engagement, facilitated by Web3 technology. The company launched a platform called "The Spot," which allows holders of the "Hume Genesis" NFT collection to influence the careers of the metastars by voting on decisions such as single releases and merchandise designs. This model aims to redefine the fan-artist relationship by transforming passive listeners into active participants in the creative process. In September 2022, Hume secured $11.7 million in a Series A funding round to expand its roster of virtual artists and further develop its fan engagement platform.