The music industry is broken.
The industry makes $43 billion in revenue. And only 12% goes to the artists.
Artists work tirelessly to create songs. And they don't see much of the profits.
Blockchain can change that.
Artists will finally own their music. Songs will be uploaded to the ledger with unique IDs. They will solve the problem of songs being copied and modified.
Artists can use NFTs as tickets to their concerts. Having an artistic NFT will make the experience more valuable to fans.
Artists will have a more direct relationships with their fans. Using smart contracts and tokens, they will generate revenue without expensive middlemen (like record labels and Spotify).
Audius just raised $5M.
They're a decentralized music streaming service.
Backed by artists like Katy Perry and Jason Derulo, Audius is one of the most popular non-finance blockchain apps with 6M users.
They have their own token called $AUDIO.
It can be used for staking, rewarding artists for engaging with fans, exclusive content, and voting on the protocol.
Audius gives more power (and money) back to the artists.
Audius – music streaming platform with their own $AUDIO token
Bitclout: decentralized social network
Bitsong – music distribution
eMusic – music distribution and royalty management system
Mycelia - direct payments and more control over how songs and data are circulated
Open Music Initiative – open-source protocol for music rights
Viberate – analytics tools for artists
YellowHeart – blockchain live event ticketing