eMusic-The Perfect Crypto For Music & Musicians
Today, artists are creating more content than ever before, but earning less, as greater numbers of fans switch from purchasing music to streaming. Slim margins are also pushing most popular streaming services into bankruptcy.
It's clear that the economics of today's streaming model is unsustainable. Providers are losing billions and most musicians and songwriters can barely scrape together minimum wage after labels, distributors and publishers take a disproportionate cut of the revenues.
It is time to disrupt this broken industry, to ensure artists are paid fairly for their music, and to support healthy competition between service providers. By decreasing the role of inefficient middlemen, creators can retain a larger share of the revenue and the fans can continue to enjoy music the way they want, on streaming and retail platforms like eMusic.
As the first major music service to fully embrace Blockchain, our eMusic Blockchain project is about developing a sustainable music ecosystem for artists, service providers, and the fans that support them.
eMusic is a digital music pioneer, serving over 47 million music fans since 1998. We are committed to fair pay for artists and believe that decentralized distribution will remove inefficiencies that currently limit their potential to create music and earn a living.
The eMusic token called eMU (symbol) is an Ethereum-based (ERC-20) token designed to enhance the core functionality of the eMusic platform from day one. It will be accepted as a form of payment for eMusic retail store credit, a reward for loyalty and referrals, plus access to complementary features such as unlimited cloud storage and token-only discounts.
eMU will enable a transparent system of distribution between music fans - artists - labels, and retailers, through an instant payments system; managing royalties for all right holders and provide an unprecedented fan-to-artist connection through features such as artists-label crowdfunding and artist-to-fan loyalty programs.
Day One benefits to token holders
- Enhanced token benefits (non-expiring credit)
- Access to music discounts - Conversion to Credit on the eMusic retail store
- Loyalty and incentive rewards
2018-2019 Roadmap Plans to add more benefits to token holders:
- Artists crowdfunding contributions
- Artist song/album distribution
- Rights management and royalty distribution
- Back catalogue monetization
By transacting in eMU, without intermediaries taking a cut or slowing down the process, fans are reassured that proceeds go directly to support the music they love. As a token holder, you will soon also be able to earn instant rewards from your favourite artists when sharing music and reviews and even crowdfund your favourite artist’s next tour.
Music fans can now purchase eMU tokens on digital asset exchange Bibox, one of the world’s leading sites for buying and trading digital tokens. The tokens can be used immediately to buy your favourite songs from your favourite artists on the eMusic service. It is the first of many features that will bring life to eMusic’s vision of a fair and sustainable music ecosystem.
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