The evolving Cryptocurrency Music Platform market...

[bulevardi]

Hi all,

Lately I've been digging into the music distribution market which involves cryptocurrencies.
I had no idea about how it works and still have no much clue about it.
Let's discuss this!

Anyone already experimented with this?
From the articles I've read, I couldn't figure out how many % artists are nowadays distributing via these channels. No journalist seems to get hands on the numbers here.

And there are already tons of platforms where you can distribute your music on. After half an hour reading, I already came up with Voise, Choon, MusiCoin, Tao Music, DSound, ArenaMusic, DTune, BitTunes, Opus, Ujo, Musiconomi, Muse, Imusify, and so on...
I cannot seem to see the forest between the trees anymore!

For the regular digital market (like spotify, itunes, amazon,... ) there are distributors (aggregators) that can upload your music directly to the whole network of vendors or streaming providers, at once.
Isn't there something like that for cryptocurrency platforms?

For the ones who already have experience with this, is it worth it? Does it give your more revenue than on the regular market? How about getting cashed out those currencies into real money or buying stuff on websites with it?

Some platforms (like Choon) don't allow music that is already rights protected by organisations like ASCAP and so on. Anyone has a comparison chart already for all those platforms, pros and cons? Maybe we can line it up here?

Have a nice monday you all !

[DJ Warmonger]

Cryptocurrency adds nothing to music business. In particular, no value. It's like cassino - some people give money and some people get money in return, but the cassino owner sets the rules in his favor.

https://info.choon.co/public/pdf/choon_white_paper.pdf

All this cryptocurrency hype does not adress the basic problem - that people don't buy enough music related to supply.

[mgw38]

Cryptocurrencies do not really add anything to the music industry imho. I am looking at what Cloudbounce is doing and wondering what benefit it has if they use a cryptocurrency instead of a “regular” token system. Why all that added overhead for something that is so utilitarian in the first place?

But the underlying Blockchain and Hashgraph technologies could and probably will be interesting because of their ability to create decentralized systems that can handle universally trusted contracts in real time.

[whyterabbyt]

The only 'benefit' of cryptocurrency for the musician I can see is that they'd expect to be paid in something which might rise in value as the currency becomes more valuable, though that's over-optimistic IMO as the 'bubble' effect of CCs seems to have predictably exhausted itself.

However, the real beneficiary of any such price inflation would be the site who are going to rake in far more notceable amounts than the musicians. As such the business model is 'provide a vehicle for hoovering up coins'. In Choon's case, that's actually extended to 'provide a vehicle for establishing yet another currency and make it valuable for us'. There's a lot of nonsense in the Choon pdf for example; nobody is going to 'fix the issues' of not being able to make money from streaming just by using blockchain, thats handwaving bullshit.

This the truth about cryptocurrencies:
https://deadcoins.com/