Music is a crucial part of our daily routines and we often admire musicians and singers but we also almost always demand free content not taking into consideration the time and effort someone has put into the music or song. In today’s crypto news, we will find out how crypto can solve this problem.
Streaming platforms put up a barrier between piracy and traditional sale models but artists who aren’t that lucky to have millions of views a month, can’t really make money and live off making music. Also, musicians who haven’t signed a contract with record houses have to manage their own production and marketing and even release their own songs. Despite the process now being simpler than ever, this industry is insanely competitive.
Spotify, for example,e has now more than 200 million active users per month. With the rising demand for streaming services, users are now staying away from buying a CD, a record or an audio file. Some crypto projects can help this problem in the music industry.
Multiple crypto projects are working towards decentralizing the copyrights databases which allows the users to be reimbursed after a song is played. Some of the projects even pay as high as 85 percent in royalties directly to the composer, singer or musician.
Most of the projects can be implemented by using smart contracts and blockchain technology by taking out the middlemen and decentralizing the sharing databases. Crypto-oriented startups or crypto-based platforms are a perfect option to try out and succeed as an artist. There are already plenty of platforms who offer crypto related streaming services so make sure you do the research.
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