Ditto Promotes Accessible Finance for Streaming Artists with the Launch of De...
Global music distribution service Ditto has unveiled the latest addition to its service lineup for musicians with a blockchain-based financing platform named Opulous. Opulous Peer-to-Peer Lending Platform Serves as a Loan Pool Designed to Help Artists Ditto continues its efforts to improve the value chain for artists. Unlike other decentralized finance (defi) protocols, Opulous reflects asset-based lending, which bridges the physical and digital worlds. The Opulous’ defi lending mechanism, which is being developed on the Algorand public blockchain, leverages music copyrights’....
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Jay-Z and Jack Dorsey emphasized the benefits smart contracts and NFTs can offer to artists. Jay-Z and Jack Dorsey have hinted that their music streaming service, Tidal, could be eying integrations supporting nonfungible tokens (NFTs) and smart contracts. Speaking during a June 28 conference hosted on Twitter Spaces, the duo emphasized the importance of introducing features that empower the artists using the platform, citing smart contracts, NFTs, and analytics tools as examples.Despite Tidal lagging behind top music streaming services — with Tidal’s 2019 $166 million revenue paling in....
Today, music consumption is stronger than ever, but you probably would not be surprised that a great many consumers are turning to subscription-based platforms rather than actually purchasing songs or albums. The bulk of this consumption comes from streaming; companies like Spotify, Pandora and Rhapsody are leading this trend. However, there are many artists that are adding as many of these methods as they can, in order to give their fans more convenient and simple ways to get their hands on new music. Although most of these artists are embracing the use of Spotify and other streaming....
A Malta-based progressive house producer has sold an NFT granting 50% of streaming royalties from an exclusive single to the token buyer. The crypto-powered music streaming platform Rocki has sold its first “royalty income right NFT” — a token granting its owner a 50% share in all royalties generated by a specific track's streams on the site.The token corresponds to a track titled “Cotton Eyes” that has been exclusively released on Rocki by Malta-based progressive house producer Guy J.The ERC-721 royalty income right token was auctioned alongside an ERC-1155 “listening right” token,....
It's no secret that the music industry has been mired in controversy for raking in profits mostly for producers and record labels then leaving very little to artists themselves. This has been a prevailing issue, even as the rise in music streaming has offered more convenient and streamlined ways to listen to songs. Even Grammy-winning singer-songwriter Taylor Swift has spoken up about this issue when it comes to Apple's streaming services and has protested against Spotify's music streaming terms. Bitcoin enthusiasts say that the cryptocurrency might be able to solve all this. Bitcoin and....
Goodbye Spotify, music nonfungible tokens have arrived: Reimagining the music streaming model in the Web 3.0 era. The music industry has undergone a massive transformation in recent years. We have seen the advent of the internet leave its mark on music, and most notably, 1999 spelled the coming of Napster. This then-revolutionary peer-to-peer online streaming service defined a whole generation and enabled musicians to share their creations with the world.Streaming has become the dominant format for music today, through Apple, Amazon, Tencent Music and the clear category winner — Spotify.....