That's pretty neat actually. Only thing I'd mention is that if legit/semi-legit artists were to take your songs and turn them into something for themselves, they're not going to want to pay for the song plus give you songwriting credit, as song writing credit is giving you the profit if they go somewhere with it.
So basically they'd be paying to have it and then paying you if they make it something. Not that all artists are looking to make money, but this would ensure they don't.
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