Cryptocurrency Music Platforms To Look Out For

in cryptocurrency •  2 years ago

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So far we have seen a few cryptocurrency music and video platforms emerge such as Liberty Music Store, Dtune, Muchmarket and Popchest which allow users to sell content for micropayments in bitcoin or dogecoin.
Bittunes has created an app where artists and music buyers earn rewards as part of the platform’s buying/distribution process.

Being able to sell content for a few cents, or receive micro donations, is great for artists but it still relies on people paying for content with a currency that they most probably dont have and don't know how to use.

For content to thrive and be rewarded the ecosystem must be instantly accessible and rewarding for the user.
A newcomer should be able to participate with no previous knowledge of bitcoin or cryptocurrency.
This is something that steemit has done successfully for blogging and social media.
Ideally I think a person should be rewarded for sharing or liking content and then, in turn, be able to reward quality content from the proceeds.

Some projects I am looking forward to are Synereo, with its 'attention economy', Aurovine which will reward audiocoin to those who like, share and comment.
Ujo which uses Ethereum smart contracts and Muse.

#bitcoin #cryptocurrency #music #steemit

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MUSE aka peertracks i would say

Very nice rundown of what's happening. I've mostly been following Bittunes, which is having a very hard time attracting talent. I think its model of musicians and fans sharing 80% of revenue is brilliant in that it incentivizes fans to become 'agents' for musicians. My Bittunes wallet is impressively close to break-even in spite of the lack of attention. If it were to go viral, high-reputation curators could make significant money. I think one of these platforms is only one high profile artist away from getting some success.

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Thanks, I agree Bittunes is the leader of the pack at present, however is still relies on a user having bitcoin to enter the ecosystem. Most people do not pay for their music these days let alone pay with bitcoin!
Essentially fans should be awarded crypto for participating and sharing on a platform so they have something to reward their favourite artists with.
Steemit is a great example of an open loop system that allows anyone to get involved with no prior knowledge of cryptocurrency.

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The ability to 'make money with one's ear' might be compelling, Preloaded with money apps (like Steemit) could do a lot to get beyond the cryptocurrency speedbump. I looked over Muse again last night and it seems to tick-off a lot of good boxes. Do you know the timeline for it being live in the wild? One thing Bittunes has going for it is that it is coded and it works reasonably well (at a small scale however).

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Great post @bleepcoin! I'm a musician and I really put myself in the poorhouse producing 4 albums independently in the past 10 years. I've gotten royally screwed by labels, promoters, publicists, more labels, and venues/ festivals. Lately things for all of us have gotten really, really bad, it's simply untenable at this point. The way I see it, the only way for musicians to thrive in the future is cryptocurrency. If you have any suggestions for me, please send my way. I would love to add a bitcoin payment button on my site for donations etc. -- I'm new to the crypto-scene. My site is www.gregdiamondmusic.com Best Regards, @gregdiamondmusic

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You are right about Cryptos being the way for musicians to get what we deserve.

Musicoin is the new Blockchain distributed music streaming service. It's, a decentralized system for the publication and consumption of music, which combines a cutting-edge cryptocurrency to a peer-to-peer file sharing network. Artists get paid directly from listeners...no middlemen. https://musicoin.org/

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I mined some Musicoin a few months back and also bought some on an exchange which I still hold. I'm not a musician, but I consume lots of music. Streaming music is the future, but it bothers me greatly that large corporations are scooping up most of the profits. Blockchain has great potential to change that. No middleman. Instant payments to the musician. Not sure if Musicoin will be the one, but it's coming and soon.