How IMU Tokens create Trust and Transparency between Artists and Fans?
In the music industry, there are many centralized applications working like monopolies. For example, in the streaming business, the big giants have taken control over royalties’ payouts to artists — shrinking the part allocated to musicians. A recent article pointed out that blockchain as a transformative technology has the power to rethink the music business entirely. As a transparent and immutable public ledger that records all transactions on time, blockchain can solve various pitfalls from copyrights management to streaming payouts. For imusify, award-winning blockchain platform, creating better opportunities for musicians and listeners starts now.
IMU — imusify native cryptocurrency at the heart of the smart music economy
For musicians and fans, countless opportunities arise from blockchain technology. Let’s think no further: artists need financial support today from their fans, while fans need to stay connected to their favorite artists more than ever. Such mutual support is not encouraged in centralized applications — or organizations working as monopolies in the business — since intermediaries control how fans and artists connect. However, with blockchain, the game changes.
imusify is a platform built by a passionate team of developers around the world and musicians who understand how important are trust and transparency in the music industry. As a blockchain solution to provide all-in-one support for artists to build a career and fans to participate, imusify is on the verge of making artists richer and more autonomous than ever. The ecosystem provides incentives for everyone who participates, and such rewards are proportionate to each user’s active participation, in IMU Tokens.
IMU — imusify native cryptocurrency will support artists and fans’ interaction in the smart music economy, where no frontier exists anymore for all participants to interact and connect together. On imusify, each time a user plays a track or supports an artist, they receive rewards in IMU Tokens and same for musicians who upload new music. Imagine playing a game between all users where the liquidity is managed through a dedicated Token.
Bitcoin Magazine stated the powerful impact of blockchain for the music business, “After experiencing firsthand the troubles artists face trying to make a name for themselves, I sought a revolutionary way for artists and fans to help each other through incentivized financial support and social connectivity,” she said. “The only way to achieve this is through the power of the blockchain: a technology that presents countless opportunities for artists and musicians.”
The promises of blockchain to build trust and transparency between all players of the music business
Talking frankly, I’ve used many music applications in the past, but none of them enabled me to truly connect to my favorite artists, nor did they really help me promote my name. I found such platforms expensive to use first, and there just so many that my efforts are scattered all around the place and I can’t seem to find the real value or benefit. So how about a platform that could let me connect to my fans, and ultimately as a listener myself, to artists I follow?
imusify has leveraged a platform to offers both fans and listeners trust and transparency on the blockchain whenever they share music and connect to other users. On imusify, all transactions and activities are recorded in real time, and in a totally transparent way, meaning that when I upload a new song, it gets digitally traceable on the blockchain. Thanks to encryption, transparent and instant payouts are possible on imusify, unlike any other platforms. Thanks to blockchain as an immutable ledger that keeps all transactions safe and recorded in real-time, artists can now manage their royalties efficiently, as well as keeping control over their streaming payouts.
As a musician, I can finally leverage my own fanbase and connect with them, and as a fan, I can be incentivized to vote for new music content, create a playlist, and share the music I love with others in total transparency while supporting my favorite artists. In the game, everyone wins because trust is built on the blockchain promises that breaks the old rules — keeping control over royalties or retaining payouts from third-party or unproperly compensate listeners for their interactions with musicians. Enter a new world where musicians and fans finally win by simply doing what they love: creating, sharing and listening to music.
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