What is Musicoin? Musicoin is an open-source, public, blockchain-based distributed computing platform featuring smart contract (scripting)Show more [+] functionality. It is a fork of Ethereum and as such provides its own blockchain running Ethereum Virtual Machine (EVM). The EVM backbone is used to transfer revenue for playing songs from listeners to artists on pay-per-play basis. Musicoin is part of Enterprise Ethereum Alliance.
Musicoin aims at simplifying the process of revenue generation and distribution. Content creators can devise system of revenue distribution among themselves and all parties involved in the process of content creation. Smart contracts then distribute the revenue as specified by this system. This allows for cryptographically safe, secure, and automated payouts, offering an alternative to current revenue generation and distribution methods, most notably online advertisements.
On 17th December 2017 it was announced that there are currently 1500 independent registered artists.
NEW USE CASE FOR MUSICOIN CURRENCY: A smart speaker that tips artist in $MUSIC launches Indiegogo
50 percent off with this Indiegogo Link igg.me/at/volareo
Today, the Musicoin Project’s key partner Volareo has launched its Indiegogo crowdfunding campaign for the world’s first blockchain-enabled smart speaker. Available now at an extremely attractive $99 USD special pre-order price, this is an opportunity to become an early adopter in direct, hardware-based artist compensation. “Volareo opens a new chapter to the blockchain ecosystem. It’s a tangible device that bridges our daily lives with the crypto economy, and re-thinks the way we can engage with, listen to, and get paid by music.” — Isaac Mao, founder of the Musicoin Project. Each time a song from Musicoin’s streaming platform is played on the Volareo, the musician will instantly receive one MUSIC — Musicoin’s in-house cryptocurrency — thanks to the Universal Basic Income (UBI) protocol which allocates 15.9% of miner block rewards for artist compensation. And unlike traditional streaming platforms like Spotify or Apple Music which retain the lion’s share for themselves and record labels, the independent artists of Musicoin receive 100% of their royalties. With easily-configurable smart contracts designed on the Musicoin platform, bands can even have their payments automatically divided and distributed to each member, at portions of their choosing. Although Musicoin is a subscription- and advertising-free service, each Volareo comes pre-loaded with 500 MUSIC to encourage listeners to tip their favorite musicians while listening, simply by physically clapping their hands or pushing a button within the speaker’s phone app. At launch, Volareo will be able to communicate in English, Dutch, Spanish, and French, with more languages added in future updates. Its open-source design is also an anomaly in today’s smart speaker market that’s dominated by walled garden devices like the Amazon Echo, Google Home, and Apple HomePod. By offering access to their API, Volareo’s team encourage independent developers to build dapps — or decentralized apps — for the speaker, opening up a currently unexplored world of opportunity and creative freedom. “(This is) an open platform for crypto and blockchain partners, creators, the voice commerce industry, and developers. Our privacy and our voices should be ours,” states Volareo founder Nick Yap. Visit Volareo’s crowdfunder campaign between now and September 15 to take advantage of the special pre-order price. Delivery is expected by the end of Q1 2019.