The Most Exciting Music-Based Crypto Project To Invest In
TikTok partnership, Deadmau5, Katy Perry, and Steve Aoki are some of the artists
Cryptocurrencies are still in a very early phase. While Bitcoin and Ethereum are among the best-known forms, numerous other projects are emerging in the background. The focus is no longer on the simple processing of transactions. One example of this is the company Audius, which wants to drive the decentralization of the music industry with the AUDIO token.
Until now, it has often been difficult for artists and musicians to publish their works independently and thus be reimbursed for their work. Usually, a service provider is responsible for this and takes care of the distribution. However, AUDIO now allows independent artists to monetize their creations.
A crucial role in creating non-physical works is the sale of copyrights or their licenses. Here, artists usually have to give up a high share of their revenues to the distributor and the music label. Similarly, claims in collaborations are difficult to calculate and payout fairly. The digitalization of the music market is creating new opportunities to protect copyrights and market them independently. The blockchain and cryptocurrencies represent an essential building block here.
