Blockchain and its dance music pioneers
We’ve explained what blockchain is all about in a previous article, and now we’ll give you an overview of how blockchain is already being applied by music artists. It started when eclectic singer Björk started selling her album in Bitcoin and three other digital currencies, and she was joined in accepting it for payments by hip-hop artist 50 Cent. Check below for some of the biggest blockchain projects within the music industry that are currently growing in interest and popularity.
Choon
Gareth Emery, a well-known trance DJ and producer, started a new company to disrupt the music industry with blockchain-technology called Choon. It launched at the beginning of this year and is based on the Etherneum blockchain. The cryptocurrency connected to Etherneum is called notes. So, how does it work? People can buy notes at 5 cents a pop and redeem these notes to listen to or directly purchase a track. This project received a large amount of media attention, because the artist Darude, widely known for the track ‘Sandstorm’, almost instantly supported the idea. Secondly, the massive advantage for artists is that Choon gives 80% of the total revenue back to the artist, due to the speed of the Etherneum blockchain technology. It’s therefore worth looking into for every dance music producer. Additionally, Emery wants Choon to introduce ‘Smart Record Contracts’ in order to make sure that a fair percentage of the revenue goes to the writers/artists instead of the major record companies. It sounds very ambitious, but it also has great potential.
3LAU’s cryptocurrency guide
3LAU is definitely a producer of the people, and is very much into cryptocurrencies and blockchain technology. He created a very practical guide that covers all the basics that are often overlooked by novice digicurrency users. It covers how you can invest US dollars into cryptocurrencies like Bitcoin, Litecoin and Ethereum. You can download the guide for free by clicking here.
Don Diablo’s Hexcoin
Don Diablo is using the Gaze Coin platform to launch his own cryptocurrency token called Hexcoin (based on the name of his record label Hexagon). Gaze Coin, also known as the GZE token, is a currency and platform that provides artificial reality/virtual reality creators a trackable return on investment by rewarding audiences for gaze-triggering content. Don Diablo will be using Hexcoin (HXG Coin) for his own platform as a currency for people to access all of his content and the content from his label. It’s actually based on eye-sight, meaning: the longer you’re watching content, the more monetary value it provides the content-creator with. For further information about the Hex Coin you can visit: https://www.hxgcoin.io.
Gramatik, the world’s first crypto artist
Gramatik is truly passionate about blockchain technology. He commented: ‘’Blockchain technology is pretty much the only thing that gives me hope for the future’’. As an internationally groundbreaking, genre-fusing EDM musician, DJ, and indie producer he wants to share his creations in a more meaningful way than was ever possible before. Gramatik is using the platform offered by SingularDTV and he explained why he made that choice:
“I’ve been waiting for a platform like SingularDTV to come out that utilizes blockchain technology to cut out the gatekeepers and middlemen. I just want to release my own music whenever I want, on my own terms. I want to get rid of all that bureaucracy. I just want to make music. Living in a world that’s owned by banks and corporations, blockchain technology is pretty much the only thing that gives me hope for the future.”
SingularDTV offers artists complete control over their revenue, rights, and royalties. The GRMTK token was launched in order to create an effective platform for Gramatik.
The blockchain revolution within the music industry is in full effect and we advise you to properly inform yourself, because an effective application of this new technology could potentially lead to a lot of advantages when signing deals with labels and record-companies in terms of revenue percentages.