How Blockchain-Fueled Reward Mechanism is Disrupting the Music Industry
Cryptocurrency is not a new term because it has been around for years. This digital currency and the technology – blockchain- behind it has improved various industries, including the supply chain, payment processing, compliance auditing, and music.
Tunedly has transformed the music industry through its reward mechanism driven by blockchain technology. The aim is to enhance user engagement, reward music consumers and develop new revenue models.
This article will explain how a TunedCoin project rewards music consumers and how players in the music industry get paid fairly.
The Benefits of Tunedly to Less-Known Artists
The cost of producing music is high. For instance, seasoned musicians like Rihanna spend thousands of dollars to record a hit song. Although less-popular artists pay less, they cannot compete with seasoned ones.
The good news is that Tunedly introduced a Masked Music Discovery Platform. Its objective is to expose lesser-known artists. To achieve that, the platform hides non-musical elements like the image and name of the artist as well as the promotional hype. Because of that, users select the music and listen to it without discriminating against the artists.
Other benefits include:
Surfaces Unknown Artists
The rewards, inclusion, and support model is indeed unique. Because of its unusual nature, the platform is set to make waves in the music industry. Those first budding independent artists and musicians benefit from the lucrative deals and rewards that fans get for discovering their music.
Opportunity to Get a Publishing Deal
Users earn TunedCoin after they discover new music and rate it, which enables artists to get a publishing deal. The platform’s algorithm analyses the usage stats and identifies the song with the most potential. This community-selected track can lead to a publishing deal.
Enhances the Value of Your Music
The blockchain-fueled reward mechanism has drawn more publishers, artists, managers, agents, and listeners to Tunedly. The increased user engagement has improved the music’s perceived value. Therefore music players can now earn more despite the unlimited number of music streaming platforms.
How You Can Earn for Discovering Music
Today, you can earn some cryptos by discovering and reading music from various artists listed on a platform. The following are the benefits of listening to and rating music on Tunedly:
The platform analyses usage stats and rewards participants of a song that receives a publishing deal with its non-fungible tokens (NFT) and TunedCoin. Additionally, music fans get a split of the song’s royalties thanks to the platform’s TunedCoin project.
Access Personalized Content
The platform accepts customer feedback and uses it to develop its new system. The TunedCoin project is designed to create and distribute exclusive content to fans. By analyzing its listeners’ streaming patterns and statistics. Tunedly unlocks your favorites as well as reward the most-voted artists with a lucrative publishing deal. Indeed this project is geared toward disrupting the music industry.
The Tunedly Music Discovery app allows artists to upload their songs and music fans to earn NFT and TunedCoin. The songs that the Tunedly community votes for the most receive a publishing deal, while the music fans get TunedCoin and NFTs.
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