As the crypto market continues to expand its horizons in various industries, it has found its way to music.
For the longest of time record labels have been screwing artists and exploiting their talent for their gains. You could land a gold or platinum hit and still be broke the next day only because you owe large sums of money to your record label, whereas they continue to mint money for something they didn’t work jack shit for. Sounds heartbreaking, doesn’t it?
Musicians have been discouraged by the music industry model due to the way it works. But not all is doom because cryptoverse is a world of opportunities. It knows no bounds and is on a mission to set things right. The current model on which blockchain technology works has eliminated the middleman already. This means that now artists could get directly in touch with the audience without having the need to turn towards record label who are ready to gnaw at any musician first chance they get.
But are there any blockchains catering to our needs? Or is it just a work under process? Well, they might not be mainstream but there are some blockchain platforms already out in the market running on this model. Here are some of the following:
A refreshing and creative interface serves your needs right. It works on a decentralized ledger; allowing artists to actually own the platform and essentially control whether or not it survives. From the looks of it, it allows you to sign into multiple music curation platform accounts. The date is taken from musicians’ alt platform and it monetized for muse artists.
Making use of smart contracts and efficient cryptocurrency method of payments, Musicoin helps artists monetize on their content. But how do bands get paid? Its simple, it takes a group member stake in the group and splits every time there’s a Musicoin payout and sends it to their individual wallets. Even if you don’t get paid, the platforms increase your fanbase as more and more people listen to it. A win-win situation. *cue victory dance*
When it first launched, it seemed to be similar to other music blockchains, but here’s the news. Instead of allowing people to come up with their own original artwork, it focuses on helping playlist makers monetize on their work creating playlists of tracks.
A relatively new member of the club is giving amazing advantages to its users like the fact that they democratize music ownership and 100% funds earned goes into the pockets of the artist. The no charge benefit does really have a great appeal to it.
Viberate looked very pop when it first arrived. We had our dibs on it making big in the crypto market. Apart from providing a chance for the artist to showcase their talent without ripping them off completely, it has a pretty cool reward system. It rewards it users with Vibe Points which they can accumulate and use to buy swagger or concert tickets.