Blockchain’s Impact on the Music Industry.
Blockchain is solving some of the major problems currently plaguing the music industry. With blockchain, musicians are able to receive equitable royalty payments, venues are able to curb counterfeit tickets and record companies can easily trace music streams and instantly pay all artists who contributed to songs or albums.
Shifting music to blockchain could:
Strengthen bonds between fans and artists by allowing fans to help promote their favorites and get rewarded for their efforts.Allow artists to reward fans with free concert tickets, early access to new recordings, and exclusive access to special recordings, directly or via tokens.Help fans invest directly in an artist’s success by purchasing crypto tokens.Let consumers easily buy a track’s individual stems (i.e., drums, vocals, strings, etc.)
Grammy award-winning artist Andre Anjos aka RAC has launched an Ethereum-based ERC-20 token, by the name of RAC.Grammy award-winning music creator André Anjos is the latest artist to tap into the cryptocurrency space. Better known by his stage name RAC, Anjos has launched a new Ethereum based community token for artists.
With RAC, the music producer intends to free artists and content creators from the clutches of large-scale corporations that stifle their financial freedom. RAC Gives Back To The Community With Ethereum Based $RAC.
In the RAC token issuing platform Zora’s latest blog post, André expressed how artists across multiple disciplines have been blatantly exploited by intermediary corporations. How their creativity has been a butt of overbearing contracts that rip through the essence of ‘creative ownership,’ and that the time is ripe for a ‘change.’
RAC added that he has been an ardent lover of the cryptocurrency ecosystem and that he believes crypto’s use-case scenario extends much beyond the financial domain, and that $RAC will foster and give shape to that dream
Join the Crypto world today. XCELLABS has created XcelToken Plus a crypto asset to fuel crypto adoption across multiple platforms & drive crypto usage into the mainstream ecosystem. XcelToken Plus is an ERC20 token on the Ethereum Blockchain, developed to engage and foster a larger crypto community within the hospitality, payment, retail, social networking, and gaming industries.
