MUSIC INNOVATION THROUGH BLOCKCHAIN TECHNOLOGY - 10% to @Tron-Fan-Cub
Hello everyone and welcome to my blog.
Today we would be discussing the improvement the blockchain system has brought to the world of music.
Music is one element of art that is as old as time itself. It can be referred to be a careful organization of sounds in other to produce a melody pleasant to the ear.
In as much as some persons do fancy what others do not fancy, I still haven't seen one who does not in one way or the other enjoy music at all.
Unlike other forms of art such as painting, sculpture, photography, etc. Music stands out to be more valued and enjoyed with the reasons being that it can easily be transmitted and it tends to reach senses other forms of art might never reach.
This has led to many people choosing to take a career path in music thus pursuing to be signed by various record labels which will help them in the actualization of their dream.
The inability of record labels to sign everyone has led many into having unfulfilled dreams and dead ambitions thus leaving them frustrated and aimless. While those that were signed by these labels are constantly at the mercy of them because they depend on them for their music promotion and granting of copywriting to their songs.
The fact that these record labels help musicians in their song promotions, is not still done without cost as the musicians themselves only get a percentage of whatever is earned by their music while the record label takes the rest.
The above issue of record labels and several others has led to the emergence of centralized musical platforms.
The centralized musical platforms are nothing other than those musical platforms such as Apple music, Audio mark, Spotify, Deezer, and a lot of other centralized musical platforms which allow musicians to promote their songs and earn through the platform.
This has reduced the number of record labels as most musicians have chosen to upload and promote their songs on these centralized platforms and earn whenever fans stream their music on the platform.
In as much as these platforms have provided an alternative to the lordship of record labels, there are still a lot of issues with them because fans tend to stream music at a high cost while musicians earn only but a small percent of what is being spent by their fans.
This is because the platform owners serve as an intermediary between musicians and their fans thus making the fans spend more because they are paying both the musicians and the platform owners.
And in turn, the musicians earn less because the platform which serves as an intermediary would first deduct their cut and leave musicians with minute earnings.
- See below
In addition to this, musicians also have to pay before uploading their songs on these platforms thus leaving them with lesser returns than required.
All the above issues of centralized musical platforms are what led to the development of the musical platform on the blockchain.
The musical platform of blockchain with an example being Audius is aimed at providing absolute freedom to both musicians and their fans.
This serves to remove the intermediary between musicians and their fans thus allowing fans to enjoy quality music at a low cost while musicians tend to earn fully any amount that comes from their musical services without paying a dime to a third party.
The emergence of Audius has provided a fairground for both musicians and fans and all activities such as music streaming and reward earnings are done using the Audius token which is the native token of the platform.
Unlike the centralized music platform which has a series of disadvantages for musicians and fans, the Audius platform offers a series of advantages which includes allowing users absolute ownership of their contents as data uploaded on the blockchain cannot be hacked or deleted.
Due to the lack of popularity of Audius, it has also chosen to partner with Tiktok which is one of the most popular centralized platforms made for content creators.
The partnership of Audius with Tiktok has made it easier for Audius users to directly upload their musical content on Tiktok without the need for publishers thus reducing the cost of advertisements and promotions.
In addition to this, the Audius platform also allows users to earn passive income by participating as a validator node or delegate.
Participating as a validator node allows users to stake a good amount of Audius tokens ranging from 200,000 to 7,000,000 while those who can't afford such an amount can easily participate as delegate nodes by delegating the little they can afford to node operators and thus earn incentive based on their percentage of their delegate.
Creating an account on Audius is very simple what you need to do is log into the Audius website and click on "Sign in" in other to fill in your account details and then proceed to "Activate email" after which you're good to go.
- See below
In other to upload music on Audius, first, log into your Audius account and click on earn rewards then "upload track"
After clicking on upload, you will be directed to your gallery to select audio to upload from your gallery. After uploading, fill in details such as framework, genre, description, and mood and click on "continue"
After clicking on "continue" the music will be successfully uploaded.
From the above, you can also see that one can easily export a song to tik-tok just by simply clicking on "share sound to tik-tok" as seen in the above photo.
- See link to track
The blockchain has really improved various aspects of life such as finance by making transactions highly secure and private due to the elimination of the third party.
The blockchain has also helped to improve various other aspects of human activities with entertainment such as music not being left out. Music streaming has greatly improved due to the emergence of blockchain which has removed the barrier between musicians and their fans thus reducing the cost of accessing music for fans and greatly improving the benefits earned by musicians on their music thus making it a win-win for both.
I believe in no time, musicians will see the several benefits these decentralized music platforms offer which will in turn lead to the massive adoption of Audius.
Thank you for reading..
Tweet link
https://twitter.com/EbullientSrr/status/1527990330280366081?s=19
Wow... This is great, a music platform build on the blockchain. Some upcoming musicians need to see this
Thank you for sharing
Yeah.
Indeed the blockchain has provided a lot of innovations on different spheres of life.
The future holds a lot of interesting things
Yeah, it's true what you said.
Music also keeps us entertained when we are having problems.
You can certainly relate to that.
Music is so so therapeutic
I like it whenever I read about this that I've never.
I know iTune, Spotify and Audio mark. This is my first time to hear about Audius.
Thanks for bringing this to our awareness
I'm glad the post have enlightened you the more.
I hope to keep sharing such contents.
Note: You must enter the tag #fintech among the first 4 tags for your post to be reviewed.
Thank you for your visit @fredquantum
You have done good research by considering music innovation in a centralized and decentralized manner. All the explanations are very clear and you have pointed out some important facts through your own experiance. Thank you very much for sharing such interesting and diffeent content here.
I'm glad you found it to be interesting.
I will do my best to keep sharing such contents.
Gave a very good idea about blockchain. I was fascinated to see that. Thanks for sharing such a beautiful educational post with us.
I'm glad you found it interesting.
Thank you
Audius is a very good platform for music artist and lovers. Ive explored the platform once. I hope to finally settle down with it to enjoy all it has to offer.
Indeed it is a fascinating platform and very much user-friendly.
It will be adopted soon I believe
Thank you for this information.
You're welcome