Introducing ROCKI
Since the early days of the recording industry musicians have struggled to capture their fair share of revenue. However, most have not been very successful. Only 12% of all revenue generated from the music industry ends up in the hands of the artists who created the music in the first place according to a comprehensive report on the music industry by Citigroup.
If there was a saving grace for artists it was the income generated by tours, clubs, concerts, festivals, and on-site merchandise. But due to the COVID-19 pandemic, that live performance revenue is now gone. The earliest that it could possibly come back is up for debate, but most agree it will be mid-2021 to 2022. When it does come back, artists can expect this live performance revenue to be much lower. It’s hard enough to promote your show in a world that’s not trying to pull itself out of a pandemic. As a result, the monetization of online streaming and fan engagement is not just an important piece of the pie, it is the key to survival for many of the smaller and medium sized artists you know and love.
Enter ROCKI, the first hybrid user-centric blockchain music streaming platform aimed at independent artists and their fans. On ROCKI, artists are compensated for their streams, both in fiat currency and our unique ROCKS token, a world first.
Taking it one step further, ROCKI expands the definition of “fan-centric” by compensating listeners with ROCKS tokens for listening to sponsored and curated music on the ROCKI platform. Actions such as creating playlists, providing feedback, and hosting social engagements all earn ROCKS tokens, another world first for a streaming platform.
We’ve been working with many artists who used our previous services — Vidiam, Grooveo and Choon — to create a platform that allows them to connect directly with their fans. Many of them have already committed to ROCKI and will be credited in ROCKS when joining the new platform. In addition, we will be announcing the details of our public Beta launch and an upcoming token swap on Bounce.Finance soon. Stay tuned for that, and for your roadmap to the future of music streaming and fan participation. Because given our current state of affairs, we either keep up with the times — or get left behind. It’s about time the traditional industry model changed. Let’s give more to those who actually put in the work.
Bjorn Niclas
CEO & Co-Founder
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Medium: medium.com/rockiapp
