# TrackForge

> The Rights Rating Agency — cryptographically verifiable risk assessment for the music asset class.

*Published by [TrackForge](https://trackforge.studio)*

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## The Rights Rating Agency

Cryptographically verifiable risk assessment for the music asset class.

### Services

- **Track certification** — Independent verification of individual track metadata, registrations, and rights chains
- **Portfolio grades AAA–D** — Standardised catalogue ratings using the Value Chain Maturity Model
- **CWR Validator** — Free online tool for validating Common Works Registration files against CISAC specifications

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## Essays and Research

### Why TrackForge Exists

Music catalogues are one of the fastest-growing alternative asset classes in the world. Billions flow into acquisitions every year. Every one of these transactions shares the same structural weakness: there is no standardised way to verify what is being bought.

[Read the full essay](/why)

### The Black Box

IT upgrades and billions redirected. How the music industry's back-office infrastructure silently reshapes who gets paid — and how much goes missing in transit.

[Read the full briefing](/black-box)

### The Unclaimed Economy

4.25 million musical works have unclaimed US mechanical royalties at the MLC. 67.5% are registered at ASCAP. 73% stream on Spotify. A structural registration gap that isn't closing.

[Read the full research note](/research/unclaimed-economy)

### CWR File Validator

Parse, validate, and inspect CWR files directly in your browser. Supports CWR 2.1 and 2.2 with full record-level validation, transaction grouping, and exportable reports.

[Open the validator](/cwr-tool)

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## Sample Ratings

Download a sample rating built from a real UK indie catalogue with anonymised data and real insights.

- **Catalogue Health Assessment** — 9 pages, commercial focus. Revenue leakage, metadata gaps, registration coverage, and recovery roadmap. For rights holders.
- **Due Diligence Rating** — 22 pages, institutional focus. Institutional-grade risk assessment, Oracle methodology, and valuation impact. For acquirers and investors.

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## Contact

- Email: [contact@trackforge.studio](mailto:contact@trackforge.studio)
- Partner login: [ops.trackforge.studio/forge](https://ops.trackforge.studio/forge/)

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Source: [https://trackforge.studio/](https://trackforge.studio/)