fbpx
Skip to content Skip to sidebar Skip to footer

Blockchain Tech is Making Crowdsourced Songs Possible

Crowd Records is bringing crowd participation to a whole new level. The company is utilizing the power of blockchain technology to transform how songs are created by involving the crowd in the process.

The problem with making crowd-sourced music has always been trust. Now, the blockchain allows us to solve this by creating a trustless market for making songs.

 

Ioannis Tsiokos, Lead Developer at Crowd Records

The musicians would upload their musical idea to the platform and the crowd can finish the song. This means that the musician would not need to bother with the financing, outsourcing, or project management.

The musicians can also contribute to other people’s ideas and be compensated with song tokens — which allows them to benefit from future song royalties and token appreciation — and money.

Fans and record labels can opt to invest in songs. This means better capital allocation efficiency, which leads to better music for fans — giving them more opportunities for participation.

Crowd Records is creating a new model for rights ownership, which allows the ones who own song tokens to own the equitable percentage of the song.

 

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

111 North Bridge Road, 21-01, Peninsula Plaza, Singapore 179098.

Phone: +65-80282938

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us