'Musicians On The Blockchain Series' #4: The Blockchain Reshaping The Music Industry & The New Opportunities To Earn From Your $Music

in blockchain •  10 months ago

Disclaimer The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official parties mentioned in here.

THE MUSIC INDUSTRY

The Music industry has always been challenging for musicians to be fairly paid back for their content creation in the pool of $15 billion Music industry.

Global Music Market and trends (Source IFPI CY2012; includes Japan)

In were the 'Middle Men' or Record Labels, Music Distributors, Online Music Sale platforms and Publishers receive the biggest share of the Artists’ Royalty Payments and to be honest it's those big labels who controls the types of music and artists that gets the exposure and become popular.

THE BLOCKCHAIN

One of the great thing about the blockchain is that because it is a decentralized system that exists between all the permitted parties there is no need to pay the 'Middlemen' at the same time it saves us plenty of time and conflict that we musicians face in the current traditional systems used; but now all of this is changing quickly as the Blockchain is proving to be faster, cheaper, and more secure in which is why Banks and Governments among other institutions and industries are being attracted to the Blockchain and turning to it.

What is Musicoin? Why $Musicoin For Musicians?



Musicoin 'The World’s First Smart Cryptocurrency For Music'

The Musicoin project was launched in early February 2017, Musicoin is traded under the symbol 'MUSIC' on the crypto currency exchanges like Bittrex and such.


Source CoinMarketCap.com taken on January the 5'th of 2018

Licensing, Publishing and Releasing Your Music On The Blockchain

Now we the Blockchain decentralized technology musicians can get a full grip and control over all the stages of releasing our Music from Licensing to Publishing and to instantly earning back from our content creation within minutes, at the same time eliminating the current 'Middle Men' and their ridiculous charges fee's that usually eats up most of the artists well deserved profits from our own content creation.

Blockchain 'Smart Contracts'

Smart Contracts Infographics, Source image blockgeeks.com


Using the 'Smart Contracts' recorded on the Musicoin Blockchain, that set out the exact costs and terms of each contract or song the Musician is now able to Copyright, License, Manage Royalty Payments and the Distribution of their own music on the blockchain.


PAY PER PLAY OR 'PPP' & THE NEW 'TIPPING' CONCEPT TO MAXIMIZE EARNINGS ON MUSIC

The beauty and magic of the Musicoin 'PAY PER PLAY' or 'PPP' is that it provides the Artists with Instant Earnings from the music as soon as a Listener Hits Play on a Song in addition all the earnings can be automatically divided if there is more then one musician involved in the content creation accordingly to how the you setup the "Royalty Payment" in the initial setup of the Smart Contract

PAY PER PLAY & Royalty Payment Split Example across several Musicians, Infographics

In addition to the instant revenue the Artists or Music creators can also get Tipped on the Musicoin platform by the 'Listeners' who can 'Tip' their favorite song or artists; this feature by itself makes a huge difference then any other music platform out there in the common systems used.

Musicoin 'TIP' Infographics

With the 'Tipping' feature Artists can receive from 1 to 1000 Musicoins at once which is the equivalent of 1 to 1000 streams at once / That equals anything from $0.061091 USD to 61.09 USD PER 'TIP' !! (Rough Estimate)

Source CoinMarketCap.com taken on January the 5'th of 2018

Musicoin Profits Comparison Chart

Musicoin Profit Comparison Chart rough estimate as value went up since this current analysis

It's so obvious that Musicoin awards and pays much more money to music creators than its closest competitors for now which is Spotify.

Is Hosting Your Music on Musicoin and The Blockchain Safe?



Blockchain Musicoin Content Rights Protection

Your Original Content is Protected by the Blockchain & the Smart Contracts technology. Image source Musicoin official Instagram Page

More beauty and benefits of @Musicoin is that your 'original' music is automatically copyrighted when uploaded to their Musicoin blockchain combined with the use "Smart Contracts" technology.

Image Source BlockchainTechnologies.com

That happens by definition when anything that is uploaded to a blockchain can not disappear, your "Smart Contracts" lives forever on the Blockchain with it's own specific address assigned to you. Therefore your content created uploaded to Musicoin Blockchain with the 'Smart Contracts' is the absolute proof that you're the original creator.

The Beauty & Ease of The Musicoin User Interface Or 'UI'

I simply love the simplicity and beauty of the Musicoin interface from uploading the music and the artwork to how your artwork becomes printed on a vinyl that comes out and starts spinning when you or a listener hits play on a song.

Other then the cool interactive interface what really triggered me and got me more hooked into Musicoin was the ease of licensing, publishing and releasing my first song on the Blockchain which i did within a few minutes only!

As shown in the step by step animated guideline below:


My Personal Earnings Case Study With The Blockchain 'Musicoin' VS. The Standard Centralized Platforms

Live Screenshot from my Artist Musicoin Page

Within less then 2 months only of hosting and promoting my music on Musicoin I have earned 8.5k Musicoins which is the equivalent to $516.26 USD with the current Musicoin Crypto value in the market Coinmarketcap at the moment of me writing this post.

Also I accumulated the amount4.4k from 'Tips' all of that said while exploring and supporting back lots of new musicians and great music from across the world in all it's musical colors.

Sharing with you some Musicoin Love ;)

Since i released my first official music album digitally back in 2008, I used to use a great service provider for digital music distribution like Reverbnation as from one place you can automatically place your music on the most known centralized musical outlets the likes of Amazon Music, Apple Music, Deezer, Google Play, iTunes, Spotify, Tidal and such...

Here's A Quick Example On Revenue Comparison Between The Blockchain & Current Centralized Platforms

At Reverbnation for example the annual fee's so they distribute your music only with the basic package is $280 which is by looking at the charts of my personal sales from Reverbnation 'Sales revenue' Vs. 'Centralized Digital Distribution' The cost of having my music out there is ridiculous .... So Startup musicians has a very hard time to get their music to a wider audience unless they have the resources to pre-invest their own money other then the costs occured for the work, recording, mixing and mastering your work to be ready for release....

You can register as a Musician or a Listener.

By being a Listener you can support the Musicians and the music you like simply by just Pressing Play on a song!

As soon as the song is played the artists gets paid instantly 1 $Musicoin by the Musicoin Blockchain / Miners and in addition you can also TIP your favorite artist to show them more love and support.

Musicoin Musicians, Miners, Listeners Infographics

Data Insight & Reporting Tools

To sound fair 'Reverbnation' do provide some features that the musicians platforms on the Blockchain haven't endorsed yet, like Customizable Reporting tools and data Insights on your Music, Followers and earns ...

Image capture of the reporting tools from my personal Reverbnation account

What i like and use the most is the reporting tools, as it provides a wide range of looking at your data insights varying from Band Equity, Fan Stats, Play Stats, Traffic Stats to Earnings and such.

Extract from my personal Reverbnation artist reporting tools. Image Source reverbnation.com/djlethalskillz

This kind of data and information can be really helpful for musicians to monitor their music performance and amend any necessary changes if needed to help expand the fans and follower base reach and maximize on the revenue from your content creation.

This is something I'm really looking forward to see on the Blockchain Musicians Ecosystem and $Musicoin platform.

Musicoin is Free to use!!
I Highly encourage you to Register today Upload your music and Share it on the Blockchain ecosystem and your social medias and start Earning Now.


if you would like to know more about Musicians on the Blockchain, Musicoin and other similar topics you might be interested in my other blogs.

-How To Embed & Stream Your Musicoin Player on Twitter, Giving Musicians More Exposure & Instant Payouts
-The Musicians Quick Start Guide Compiled Series & More | #Each1Teach1 By DJ Lethal Skillz
-First Free Community Workshop for Malaysian Indie Artists
-Ending 2017 with a Bang | My Journey as a Musician on the Blockchain | Waking up on being 'Artist Of The Week' on Musicoin
-The Blockchain Musicians Guide: How To Transfer Your 'Musicoin' To Your 'Bittrex Wallet'


Hope this guide helps you with your Musician Journey On the Blockchain, If you have any questions or need more information please do comment below and let me know.

Thank your for taking the time to read and for your support in advance, Wishing You All a Happy and Blessed 2018!
Kudos!

Each1Teach1
DJ Lethal Skillz




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Great post as always, loaded with useful information, upvoted.

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@freedomexists Mah man! means a lot coming from you, thank u for reading through the feedback and support! we sitting on $Musicoin $0.088494 USD (40.43%) all the way up ;)

Catch u on the whaleshares soon, Salute!

Tip of the hat for an excellent presentation

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@roused thank u for reading through and your feedback ;) Kudos!

Wow what amazing visuals! Keep up the good work.

P.s. Think i have heard you playing at Zouk before!

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Peace mah manm thank u for the feedback! yes i used to be a resident DJ at Zouk with Nesh and Vandal Salute!

@djlethalskillz, the explanation on musicoin is very detailed and very informative. Finally, ​I understand how does Musicoin works because of this post.

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Peace @joannewong thank you for your reading through and the feedback, glad it helped u somehow! Kudos and Happy New Year see u soon over a Burger #teammalaysia :P

wow big up for this bruv!!!! ( and thankyou for the boost on tha cypher jam man!!! much appreciated!!! )

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Kudos bruv! Much Respect to yall keepin HipHop in the community alive, Keep on! Salute

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right back at ya!!!!!!

Wao interesting i think is going to be a popular one

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It is and will indeed ;)

This is super interesting- especially for a Musician/ Crypto trader haha

I do not have the time I used to to play shows and travel- now I am a nurse and i have a family..It would be nice to still earn some money playing music and support the crypto community at the same time!!
Thanks

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Thank you for the feedback my fellow Musician/Crypto trader haha

I hear u on the time management part, but with the blockchain u dont need to travel and do shows just setup a small home studio record ur music or produce it and publish it and ear straight on the blockchain ecosystem so may opportunities out there, You can sign it as a listener on Musicoin and support other artists or publish ur older music on the blockchain... Get'em all! haha

Kudos

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Awesome man, thanks for the response. I will definitely look into it!

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Make that crypto money while spreadin that good music ;)

I signed up last week and uploaded a track (https://www.musicoin.org/nav/track/0xb5479933074979c3e64209803253493267cf6b42) but I'm having a hard time havin my account verified. I haven't uploaded much content to the sites they have listed. I have used DistroKid in the past and went that route. Any suggestions on moves to make to speed this process up or to get in contact with support? @djlethalskillz

Oh and amazing article! Put together very well. Keep helping!

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@themixedhippie Peace mah man! very nice track i just heard it on Musicoin, i followed and Tipped u also cause i really liked the track beautiful chill vibes!

As u said the fastest way to get verified is to have content to backup the claim that you are who you claim you as a human will be checking it it is not an automated process in order to block scammers and fake accounts and keep the ecosystem as clean as possible. Best i advise you is to upload few of ur older works on soundcloud mainly, youtube if any videos and twitter link all with Musicoin that will make the magic happen quicker! Let me know if u need any further assistance, Kudos!

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I think I'll upload some songs to YouTube today! Thanks for the info and the tip/feedback!

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Nice! looking forward to hear more of ur music, Salute!

I read the whole thing uncomfortably.

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Thank you for reading through and the feedback, may i ask why u said 'uncomfortably' i'm open to feedback and suggestions as it will help me develop further would love to hear your opinion. Kudos once again on the feedback! ;)

Nice work, good luck with your project.

Any tips on how to promote your content on the Musicoin platform itself? I find it difficult until some playlist/curation feature is incorporated.

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Great idea Having a playlist/curation feature would be nice, the only way to promote yourself on the Musicoin platform itself is by engaging with other fellow musicians on the platform, comment on their music and tip the ones you like and they will do the same most of the time another way to promote yourself on Musicoin you can join their new $Music forum called "Let's Rock" and engage with the community there. I do both personally and on top of that i share my Musicoin player from Musicoin itself into my twitter, facebook and such to increase my reach and attract more listeners to my music. Hope this help thank you for your feedback, Kudos!

This looks really amazing, just I would not know the first thing about going about setting this up I am still learning how to do many things from steemit, to LMMS as that is the only software I have to make music with..

Plus, I have never had formal training in any type of producing so it is kinda slow going..

Thanks for this I will definitely keep this in mind when one is ready!

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@redsfallin Peace my fellow steemian and musician! Thank u for coming through theres so much information in the community and initiatives that can guide and assist u in any goals u set if u need any assistance please do not hesitate to reach out. U should check this new guide i made it should help u getting started when u ready, Good luck with your Journey on the Blockchain!

I'm all they way in this. So much that when someone was actually streaming my SoundCloud at the end of a show, I went to the sound booth, stopped my own music and switched it to @musicoin. 😂😎

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lol! Musicoin Over Dozin i see ... haha ure a Champ and on the right path! Kudos n Salute

Image result for champ animated gif

Great overview! Thanks for that.

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Pleasure mah man! Kudos

This post has received a 32.26 % upvote, thanks to: @djlethalskillz.