Is it worth it for musicians to join Choon.co the new blockchain music service? I did the math :p
Last week I heard about a new site choon.co and as you can see from the header image it's a musical blockchain project, that is somewhat like soundcloud/spotify. You can upload tracks and other users can stream them, but it runs on a blockchain, this is where it gets interesting!
Every 24 hours the reward pool distributes rewards to each artist who has uploaded tracks based on how many streams they had. There is also an additional reward incentive to curate as each artist can choose the percentage of curation they would like to offer when their track is played in someone else's playlist. Brilliant and somewhat similar to Steemit!
The third awesome option is splits. This is essentially analogous to a beneficiary, so if you collaborated on a track you can instantly divide payouts to your band/producer etc.
The interface is pretty minimal and well designed, I really like the clean look and easy navigation, above is my main profile page and below are the albums and playlists tabs.
Now here is what you are here for, the math!
The Choon blockchain pays out once every 24 hours (seems to be around 9PM EST). You are paid in NOTES, from my research at the pre-sale these were sold 10k for 1 ETH. At the current ETH value in USD that work out to about 4.6 cents USD per NOTE.
In the first 48 hours I made 3549 NOTES which came from a total of 103 streams. From what I can see those all came from my page and none were through playlists, meaning I got 100% of the revenue for these tracks. This is good because it is easier to calculate :D
At the current USD price this works out to 163.78 USD or 215.07 CAD equalling 2.08 CAD per stream. (my excuses for all the CAD :p)
That's not bad at all, that's amazing!
Now I don't know if part of that was because I just uploaded tracks and was very visible in the NEW queue or some other fluke, but to be honest that is more than I was expecting.
The most beautiful part of all this is that I can stream music and pay people, as someone who lives and breathes music and has it playing all day long while I work this makes my heart explode!
Personally this has been well worth it for me and is a wonderful addition to Steemit. If you are busy all it takes are a few hours to upload your music and it can be relatively passive. Obviously if you want to curate playlists and be more active the potential for rewards are even better.
I am curious to see how things go over the next few weeks as I settle in. I am working on a Steemit Tribe playlist so if you are on there comment your name and I will add you, let's all support each other and celebrate yet another way that the blockchain can bring us closer to freedom <3
My profile: https://choon.co/artists/juliakponsford/
That looks really interesting. I'm going to check it out right now.
edit: How long did you have to wait before you could upload tracks?
As soon as I got an invite I was able to upload after I confirmed my account, someone has just informed me that they are having to wait. I am not sure if they have had too many joins recently or what?
Interesting. Hopefully it's not too long. Looks like a really simple but useful site for finding some new music. Just the fact that I know I'm giving crypto for listening is fantastic.
Co-owner of choon responded to this post and i asked, its at the top of the comments :)
Thanks for the great post - glad you're enjoying Choon. Checking out your music now! Gaz (co-founder @ Choon)
Mad props to you! I started using the platform this week and I am loving it. Really neat design and already a great community of fellow musicians are present. I have high hope that Choon gonna totally rock the blockchain.
@garethemery Nice!! I as well started using the platform this week after tips from the steemit community. Really digging the interface and how reliably smooth the user experience (both artist and consumer) has proven to be.
@vachemorte and @juliakponsford ... so glad yall made it on there!
@vachemorte i just found you on there as well!! looking forward to seeing more of you and listening to more of your dopeness my friend!!!
Awesome thank you for building another cool platform! I referred some people to sign up and one told me he can't upload tracks, are you putting a cap on new artists for a bit?
Can I ask how does choon differ from musicoin? Is there a big difference in what your trying to achieve?
Good question I have not researched musiccoin enough I would like to hear the answer :)
In many ways. But right now, the difference is that Choon is more stable/less bugs, more artists and content, working playlist incentives, and last, but not least - Choon has a sustainable way of calculating royalties. As opposed to Musicoin, that pays 1 token for every stream. (Which incentivizes quantity and shorter music, over quality - No need to stream a whole track)
Yea choon is a amazing platform...very clean and easy to navigate. Wasnt aware of that 10k = 1 ETH thats amazing numbers.. This coin will soar indeed adds such value to the independent artist! Good post
Of course that is the pre-sale we have no idea of the true price yet but yeah it's pretty great! Are you on there" same name"
Im on there as Second Womb
epic name. have a penny
Very nice run down and information Julia! I agree Choon is looking very good for artist which is great news and most kewl addition to this crypto music kewlness, I also like musicoin but its not as hot as Choon currently is! Have you seen Choons road map run down? i like it even more after reading this! Have a kool evening! Cheers Kurt :D https://www.choon.co/public/pdf/choon_roadmap.pdf
Yeah it looks great, they have a lot in store, staking, an app, exchanging for giftcards, comments section :D Listening to this track now: beautiful! The Iterlude Piano Playtime
kewlness thanks Julia and you found that track quick, i had another mass spree of uploading tracks last night! hehe Thanks for chooning in and the good vibes! Have a great day! :D
Hey clubfungus I was enjoying your stuff last night on a pure brew playlist! Sounding good.
Hi thesimpson thats very kewl indeed and i think that was my friends playlist by Tea Man, thankyou for the great feedback! Cheers Kurt :)
Following you now @clubfungus, @lorenzopistolesi, @wolfnworbeikood and of course, the irreplaceable @juliakponsford.
= )
I have been adding everyone to the steemit playlist which is here: https://choon.co/playlists/0_91ejsotel/the-steemit-tribe
Could you add me too. I would really appreciate it,
https://choon.co/artists/will_rs
i just followed all of you as well @clubfungus @lorenzopistolesi @wolfnworbeikood!!! look forward to seeing doubles of you all now ;)
thanks for the heads up!! i just joined and it looks as if your source was correct, they have a waiting list for artists to upload tracks now... hopefully its not too long ahahaha, you got me so EXCITED!
I wish I had found and promoted it a little earlier, looks like I got signed up just in the nick of time, I hope the wait isnt too long!
so actually I GOT ACCEPTED TODAY!! WOOT WOOT! im on there as @theinfamousit, i just added you, and am about to add all these other awesome steemians!! btw def diggin on A.I Emotions, really cool concept, what was the process like in creating that!?
Sweet, I just added two of your tracks to the playlist! I am not a trained musician at all and I work kind of intuitively. I mostly play with the sounds until I like them. That might be a disappointing answer but I am a bit bad at explaining my musical process :D
thank you so much! stoked to have a dedicated steemit playlist to be pumping! thats awesome to hear, not disappointing, but reassuring in fact, as neither am i actually! hahahaha thats a great way to do things, as the ear doesnt lie.
Great post. Here it is my name on Choon https://choon.co/artists/lorenzopistolesi/ Glad to be in your playlist.
And you should put your great music on Musicointoo. We can already exchange with USD.
Thank you
Cool I followed you and will add you to the steemit playlist! I haven't had a ton of time to look into musiccoin but I would like to also
Grazie. Thanks
Choon is dope I was always wondering the math on that... hope to see it come to fruition! I’ve been an early adopter and got a t shirt from them already! 😝 Good post!
Nice I will look for you I am guessing you have the same name?
yes sure do! ill check for you too!
I’d imagine it may take a similar track as Steem distribution, in that during early use there are fewer creators dividing the rewards making it easier to earn. Seize the opportunity and enjoy! But I’d imagine the value per stream will fall over time, even if token price increases.
Cool platform though, I’ll be checking it out!
Yes I agree logically that will be the case, thats why early adoption is always the best :)
Thank you very much Julia for this information, this week I started with a list of four songs, I didn't know anything about values, and the best part of all is to be part of this musical revolution, I'm very new in the world of all these platforms like Steemit, musicoin, Choon. and I hope you can listen to my music :) https://choon.co/artists/frankduna/
Cool I followed and will add you to the steemit list :) I agree this is revolutionary, we live in very exciting times :)
I think it will be an interesting tool for those artists who want to get acquainted in the music world but they need some extra income!
Yes it seems to be a very fair system compared to most others if we are talking about unsigned musicians. Very easy and nice site to use as well :D