Blockchain-Based Music Sharing Platform Aims At Putting Musicians At Helm, Announces Token Sale
Blockchain technology continues to find inroads into different areas of business and society, especially through the token crowdsale model. The latest company to announce a token sale is Musiconomi (MCI), the Blockchain-based music ecosystem. Musiconomi is the second startup to pass through the cofound.it system for startup ventures, and has already had some success with the Musicion Project, a cryptocurrency and beta music streaming and sharing platform. Musiconomi builds on this Blockchain platform using smart contracts in order to distribute music and provide payment to artists each....
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A South Korean music sharing platform, Koong World, recently announced the registration of a non-fungible token (NFT)-based music theft prevention patent. Using this patent, the music sharing platform aims to “solve the problem of copyright protection in the rapidly growing music market.”
Tackling the Problem of Copyright Infringement in the Music Industry
A South Korean peer-to-peer music sharing platform, Koong World, recently registered an anti-music theft patent with the Korean Intellectual Property Office, a report has said. Kung World says the patent will....
Cointelegraph spoke with NFT musicians and Web3 music industry natives to understand what came first: the music or the desire to make an NFT. Music-related use cases for Web3 technologies are piling up as the industry goes all in on adoption. From democratizing song rights royalties and blockchain licensing to legacy companies like Sony Entertainment filing patents for nonfungible token- (NFT)-authenticated music.While electronic dance music and pop seem to be picking up the most attention in terms of NFT music, they’re even making a difference in more traditional areas like opera.Just....
A group of musicians, entrepreneurs and blockchain advocates is set to gather at a festival in Germany later this week with the aim of testing how the technology can change the music industry. The Music Tech Fest Berlin is set to be held from 27th to 30th May. During this time, the MTFLabs: Blockchain initiative will bring together participants including Grammy Award winner Imogen Heap, who has been advocating for blockchain applications in the music industry since last year. Also participating in the event are Vinay Gupta of Ethereum, music production platform PledgeMusic founder Benji....
Spotify and Apple Music reportedly cut 75% from musicians’ revenues together with the cut paid to labels. As popular music streaming services like Spotify cut much of musicians’ revenues, new technologies like nonfungible tokens (NFTs) are likely to help artists grab back their fair share, Saxo Bank predicted.According to one of Saxo Bank’s Outrageous Predictions 2022: Revolution, music creators would benefit from NFT-based streaming platforms as they allow distributing music directly to listeners without centralized middlemen charging a fee. Saxo Bank’s cryptocurrency analyst Mads....
From letting fans co-own their favorite artist's music to providing fair earnings for musicians, projects are using blockchain to change the music industry. Music is a tricky business. The industry has its fair share of controversies, from monopolies to the limited earning potential for upcoming artists. While Web2 brought many positive changes, the industry still has a long way. Because of this, projects are trying to utilize blockchain technology to provide new solutions to the age-old music market.In the last ten years, the industry has changed drastically because of the internet and....