Is Audiocoin poised to replace iTunes?
Music Artists have struggled with pennies in exchange for their valuable work for far too long. The demand for a decent income that will not only pay for food but will also enable music artists to live a great life in the 21st century is slowly building. The Audiocoin has arrived as a saving grace for both the constantly evolving Music Industry as well as for budding artists, musicians, and singers.
What is the Audiocoin?
The Audiocoin is a cryptocurrency specially dedicated to the online music world that will serve as a convenient and advanced method of ensuring music artists are paid their due without hassles. Audiocoins will initially be in the form of credits or tokens that will be deposited to e-wallets. Audiocoins earned can then be deposited as real money.
Struggling Artists can now breathe a huge sigh of relief since they can now easily add their music to various streaming services and expect a decent, uninterrupted source of income without touring or investing in record labels.
Audiocoin will form the basis of Blockchain Technology to allow digital distribution of music and allow music artists to get paid in the most convenient way possible. If cryptocurrency makes its way to the music industry, payments will be automated and tracked and more content creators would step up to showcase their music to the world.
With Audiocoins, fans can stream and share music to earn audiocoins which they can then use like real currency. Artists on the other hand have numerous benefits of earning Audiocoins. They can avail various music services to obtain better reach and to improve the music they create.
Audiocoin Streaming Services:
Popular Streaming Services like Spotify and iTunes are constantly under fire for underpaying music artists. With the arrival of cryptocurrency streaming services, these older platforms will face tough competition since music artists will rush to be paid in Audiocoins so that they can make more music without a worry in the world.
Music Lovers all over the world can stream their favorite tracks without paying for expensive streaming services like iTunes. A more streamlined approach to music will happen online if Audiocoins are used.
Audiocoin Music Streaming will be based on the Open Music Initiative and the Dot Blockchain Media. Open Music Initiative will help identify music rights holders so that they don’t have to fight for their right to be paid. The Dot Blockchain Media Initiative will create a new music format that will replace traditional formats and will be shared for Audiocoins.
Concept Audiocoin streaming services will allow fans to stream and download music. They will also be social interaction enabled to bring fans and musicians closer together. Virtual Wallets will be used to collect Audiocoins earned in exchange for streaming and shares.
How will Audiocoin Transform the Music Industry?
Music will be traded wholly using Audiocoins with major music retailers selling both music as well as musical equipment seamlessly in exchange for virtual currency. Music Engineers in recording studios will also be paid in Audiocoins which will make their work very easy. Singers and Musicians can purchase and replace their instruments without a second thought if virtual currency becomes the new norm in the Music Industry. Since receiving and swapping Audiocoins will occur in under a few minutes, Audiocoins will make the Music Industry a bigger, better, and progressive place to thrive in.
Blockchain Technology in the Music Industry will enable fans to earn crypto rewards in exchange for their favorite artists’ increased popularity. Revenue flow between fans and artists will be transparent with no cuts. It will completely transform the relationship dynamic between artists and their fans.
Audiocoin has garnered the interest of the music community. Recently Icelandic Music Artist Bjork declared her acceptance of Audiocoins, paving the way for more singers and composers to follow in her wake.
Audiocoin is closely associated with the growth of Bitcoin and other virtual currencies. If it is adopted on a large scale, traditional systems of music will fall; making Audiocoin a viral and global phenomenon. It will become the biggest reward system for Artists and Fans all over the world. Audiocoins are less known but if people spread the word, it may trigger a worldwide adoption.
Featured image:- Audiocoin Twitter account