The Fall of SoundCloud and the Rise of "Steemit for Music"
Recently, it has been announced that the music distribution giant, SoundCloud, has just 50 days to increase its funding before it collapses. (http://www.businessinsider.com/soundcloud-only-enough-funding-last-50-days-reports-2017-7)
In the wake of this news, there seems to be a great opportunity for digital currency-based, independent artist-oriented music distribution platforms.
Musicoin is an ethereum-based music distribution application which allows users to pay and tip artist directly via $MUSIC. The platform is remarkably similar in appearance and functionality to Steemit.
In particular, Musicoin is championing their Pay-Per-Play (PPP) payment model by which users pay artists micro-amounts each time they listen to an artist's song. These smart contract enforced payments can be structured such that each contributor to the musical piece receive a set amount of every payment. I.e. the lead singer may take 40%, while the producer, drummer, and guitarist, each receive 20%.
Pioneering music distribution in the digital currency space with a market cap of ~4 million dollars , this non-profit backed coin and its incredibly active team has only just begun their journey.
Feel free to to check out their website and construct your own opinions (Musicoin.org)
Nice Blog Post, very good to read!
Keep up the good work!!!
My first day on steemit, so much to discover!
Thank u for the Info!!!
Greets Cryptoinvestinfo
Great post you got
You could check out my write up @chukamozie
Chuka Mozie:
https://steemit.com/life/@chukamozie/unlishing-you
This could be really cool. Being a musician myself I have always wanted something like this, but just never knew it was blockchain tech I was thinking about. Soundcloud is a HUGE platform, if you could convert those uses that would really kick things off for musicoin.
Wow.. this is some fascinating stuff. I don't know how such a thing is meant to work, but I'm definitely intrigued by the implications of it.
I remember reading this a couple of years ago about this very subject, but not having the cryptoknowledge to really get it: http://www.coindesk.com/bitcoin-rockstars-cryptocurrency-music-industry/
Maybe the entire community should approach Soundcloud and offer some STEEM and MUSICOIN to buy out there database.
That would be awesome! It's always hard to get larger companies like SoundCloud's attention. However, the biggest issue SoundCloud faces is that they have no way of monetizing their service. By integrating STEEM+Musicoin they would certainly gain quite a few new ways of making profit and hopefully stay afloat.
I'd love to see a STEEM/Musicoin partnership first, then the two projects go to SoundCloud together.
great Idea, I would support it. Listen to sound cloud daily
yes the opportunity is here on the steemit platform -except no one here supports music --i am now following you
Thank you very much :)! Musicoin is a project independent of Steemit, however, I could certainly see a Steem/Musicoin partnership as a distant possibility.
that would be fantastic!
If a few up and coming bands/musicians would join steemit and ask followers to join and support them (like many demonitized YouTubers did) this could change quickly and dramatically. I would love a more music friendly platform ;-) @roused
Cool!
I heard the fall of Soundcloud was fake news to make it seem like the economy wasn't going up as rapidly as it really is going. The stock market went up 4% this week on fake news of Soundcloud shutting down and now Soundcloud is expanding! The same thing with store closings. The store closings are being greatly exaggerated. It is all fake news!
Sounds interesting! I will check it out. :-)