Many cryptocurencies are created, for many different scopes.. In this article, we will check out, four coins, that have been created, to change music distribution economy. They are interesting projects, and time will show, which one will be the best, to provide a decent income for musicians.
This coin, is a blockchain based platform, that supports creation, distribution, and consumption of music, in a shared economy. Musicians, can publish, their music, and get compensated for their work. There are no third parties involved, so the 100% of the revenue, goes to the creators of the music. The project is using the concept of sharism, It emphasizes, on the importance of sharing knowledge, and value, within the community, to create a positive social impact. Smart contracts are used, to support a pay per play model, for each stream, of music.
More about Musicoin: https://musicoin.org/
With the current music industry, it is very difficult for artists to collect, their fair share, of their royalties. With OPUS, musicians, can get close to the 100% of revenue, coming from their work. With centralized music platforms, you have to follow the current trend, to manage to publish your music. With OPUS, you can publish your music freely, and find your audience, The ethereum blockchain is used, and all tracks are stored on an Interplanetary File System, so storage costs, are drastically reduced. To support, an artist, you just have to download the app, and there you go.
More about OPUS: https://opus.audio/
Potentiam, is a music platform, governed by the users, where rewards, are distributed between those that bring value to it, without middlemen. Blockchain, is used to store information, on a peer-to-peer network, without relying on a central server. Potentiam Core will have four main distribution modules. Digital sales, physical sales, Sync Licensing and P.R.O./broadcast royalties. Potentiam tokens, are the platform's backbone. They will be used, for all transactions in the platform. A vault, is provided, to allow staking of coins, so stakers, will have special rights and privileges.
More about Potentiam: https://www.potentiam.io/
Rondo, is different, from the other three coins, because it emphasizes on a hybrid ecosystem, that makes it, very easy, to use the token, for everyday life. The RND token, is an ERC-20 token, and can be used in the ecosystem, in many ways. The RND wallet, can be linked to a debit card, it provides universal music income, and you can buy gift cards with it. Travel bookings, can be made with the token, so it eases musicians to travel for live performances. There is a fund, to support music students, with bursaries and mentor-ship. It is an interesting project, because it supports, more than in-platform transactions.
More about Rondo: https://rondo.me/
There are more coins, that support musicians, but this is a four only list, and the selection, was random. Later, I may create another list of four. Cryptocurrency, is amazing, so stay tuned.