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Musiconomi Mention: Cryptocurrency Provides Relief For Music Artists, Part 1

Cryptocurrency Provides Relief For Music Artists, Part 1 Quora Question

I was on Quora today answering some questions about cryptocurrency and blockchain when I came across the question above. YES. Yes blockchain technology can increase your revenue, struggling artist. Even better news — there are various platforms to call home for your content.

Musicoin https://musicoin.org/

Musicoin hit exchanges in March of 2017 and launched with a partnership with MiQ group. “Musicoin lays the groundwork for a new age of music that is sustainable, borderless, and fair to all stakeholders” Using smart contracts and the extremely efficient cryptocurrency method of payment, Musicoin helps musicians monetize on their content. Below is a simple example of how it works on their platform:

https://musicoin.org/

Great, but there are two people…how do multiple group members get paid? Simple! Take a look at the picture below. Musicoin makes it easy for artists to monetize on their content depending on group member’s stake in the group. Below is a simple example — 25%, 25%, & 50% split every time there’s a Musicoin payout to the group, it’s automatically split and sent to their individual wallets.

https://musicoin.org/

It’s as simple as sharing your tracks, getting listens and getting paid per your digital contract when people listen! Of course this is a theme that will be similar to other platforms in this article, but each one is a choice. Musicians can choose to use one, or all of them. If I were a musician, I would use them all. Upload my content on every platform because these platforms are newer and working to grow their followings. Your content = perfect share opportunity. Even if you didn’t get paid, free shares = larger potential fan base!

Go to medium.com
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