Today eMusic becomes the first major music service to launch a digital token (eMU), creating a unique opportunity to build a sustainable music ecosystem to the benefit of artists, fans, and music services
Music fans can now purchase eMU tokens on digital asset exchange Bibox, one of the world’s leading sites for buying and trading digital tokens. The tokens can be used immediately to buy your favorite songs from your favorite artists on the eMusic service. It is the first of many features that will bring life to eMusic’s vision of a fair and sustainable music ecosystem.
What is the eMU token?
Based on blockchain technology, the eMU is a secure and decentralized form of digital currency that makes payments to artists more efficient and transparent. It allows music artists to keep more of the royalties they earn for purchases and plays as well as real-time visibility into how their music is being consumed and by whom.
In the longer-term, the eMU token and blockchain platform will provide a revolutionary distribution alternative for artists. It will enable them to independently upload their own content to the eMusic store and elsewhere, giving them the control to build sustainable careers.
Why should you use the eMU token?
By transacting in eMU, without intermediaries taking a cut or slowing down the process, fans are reassured that proceeds go directly to support the music they love. As a token holder, you will soon also be able to earn instant rewards from your favorite artists when sharing music and reviews, and even crowdfund your favorite artist’s next tour. And that’s just the start. How awesome.
Where can eMU tokens be acquired?
eMU tokens are now available to purchase on digital asset exchange Bibox. Available at a base price of $0.39 per token, you are guaranteed that each token will always buy at least one song on the eMusic store. The tokens can be purchased in exchange for USDT, a widely used digital token pegged to the value of the US dollar.
Note: The eMU token is an ERC-20 standard token and is only available for purchase and use by non-US residents.
Tamir Koch, CEO of eMusic, said:
“Streaming has dramatically increased revenues and adoption, but the model has proven itself to be fundamentally flawed”, said Tamir Koch, President of eMusic. “Hard-up artists receive a fraction of the royalties, while intermediaries take an ever-growing slice of the pie and leading services remain loss-making. The eMU token is now here to reinvent music distribution. It creates a brand-new commercial model built on fair compensation and transparent flow of funds between fans, artists and music services”.
Guojie Liu, Managing Director at Bibox, added:
“eMusic pioneered the concept of digital music and was among the very first music subscription services. When they say that blockchain is the future, the music industry should take note. We are delighted to be listing eMU on our exchange and anticipate strong demand for using the token on the eMusic platform and beyond.”
Any question about eMU? Feel free to contact us on our website or reach out to us on our social networks.