Ethereum
$145.30 -0.62%
ETH · 40w

Coindesk: This is why crypto is hot. Rapper 'Mims' creating TuneToken for Artists

Award-winning rapper Mims has become the latest musician to launch a blockchain company.

The artist has co-founded a project called RecordGram, which aims to help artists and producers connect to create music and that uses a blockchain to help facilitate royalty payments. Using a token called "tune," the system records artists' digital rights and automatically tracks royalties.

Mims has now revealed he will be talking about the project at the Crypto Influencer Summit this month, as well as perform at the event, according to statements.

The summit, which is part of New York's Blockchain Week and will occur on May 17, is co-sponsored by blockchain-based social media platform startups Cryptoinfluence.io and BOOSTO. Other notable speakers include Basic Attention Token founder Brendan Eich, who will discuss his project.

RecordGram works through a mobile application that both producers and artists can sign up for. Different features allow members to create and store notes or audio clips, as well as listen to materials shared by different musicians, according to its website.

The tune token, which RecordGram licenses, was created to "solve digital songwriter rights and royalty transparency issues for the music industry," the website says. As such, it stores the content created by artists using the platform on a blockchain. Users can convert the tokens to RecordGram credits, which can then be used to either purchase clips or tip the artist.

Mims image via Adam Bielawski/Wikimedia Commons

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