The music industry is one of the most face-paced, quickly changing industries. From the age of streaming to online-based concerts, musicians always find new and creative ways to connect with their fans. One of the major concerns about the digital music industry, however, is how royalty-payouts work. Not only are numbers very small in how much money artists get, but the process is very long and dragged-out. Blockchain-based streaming companies such as Audius Music are looking to solve that problem.
Below is a list of five reasons why artists should embrace crypto-technologies shortly.
Artists can receive payouts in cryptocurrency
Crypto-based music streaming services such as Audius Music give cryptocurrency as payment to the artists on the platform. As the value of the platform rises, so does the cryptocurrency itself.
Artists can sell online collectables that appreciate in value
Artists such as Shawn Mendes are getting involved in the NFT (non-fungible token) marketplace. Fans will be able to buy unique collectibles from Shawn, but users will be holding artwork instead of an actual currency.
