Bitsong - A Music Streaming Platform On The Blockchain
The blockchain is king! We can’t deny that this technology rules this century. You know why?
Because it is so disruptive, innovative and is here to completely change and transform every industry on this planet as we know it.
Does it mean that if your business is not on the blockchain it’s under the threat of collapsing?
To be honest with you…Yeah! If you can’t scale or keep up with time and latest technology then you will probably get left behind. Blockchain is not a tech to ignore. Ignore it at your own risk.
I am very sure many of us have already read about how unique and disruptive this technology is. I have written and read dozens of these articles about blockchain myself.
Well, this is not another article about blockchain but it’s obviously related to the blockchain. It is related to blockchain because if you have noticed, I already mentioned the word “blockchain” approximately more than 10 times ever since the beginning of this article and might probably mention it over and over again.
As you read earlier, blockchain is here to transform different industries right? Since I am a musician and an entertainer in general, one of the major industries I have had a big interest in is the Music industry. I have been really interested in seeing how the blockchain technology is going to transform the entertainment and music industry.
That being said, I would like to introduce you to an interesting project that is here to revolutionize and bring complete transformation to the music industry.
If you are an artist or a fan who likes music, I am pretty positive you will like this one.
What is Bitsong
Bitsong is a revolutionary music streaming platform that has been built on the Ethereum blockchain and uses the IPFS distributed filesystem.
The music industry has been very challenging especially for musicians. This is because most of the emerging or underground musicians can’t make a decent living from their music creations.
Bitsong knows and understands that a lot of time and energy is put into creating music and every musician deserves to have their fair share.
Bitsong has been created as a tool/platform to empower musicians and help them get paid. When musicians get empowered, they are able to create more and more music for their listeners to enjoy which is basically a win-win for both musicians and listeners.
Bitsong is a music platform specifically dedicated to serving musicians and listeners.
The Bitsong network/platform is powered by $BTSG tokens which are the main network tokens used for payments on the platform.
How it works
Users will be able to create and produce songs in which advertisers can attach advertisements and allow other users to access the songs on the Bitsong platform from any device. According to Bitsong, every advertisement listened to, the artist and the listener will get up to 90% of the profits invested by the advertiser. Musicians will also be able to receive donations from fans for their next album.
Musicians are able to create their own music channel and upload new music to their channel.
Artists can sell songs and get donations from their fans to help them promote their albums and songs.
Listeners and other users can freely support the artist whose work they love by making a donation using $BTSG tokens
Earn $BTSG tokens
For any play or stream a song gets, a musician will earn $BTSG tokens from these song plays and streams.
Listen to songs
Users can listen to their songs on TV, Smartphone, PC or any other media device.
Bitsong will allow anyone on the platform to sponsor their business or songs in full autonomy.
Below is a comparison on Bitsong and other music streaming platforms on the blockchain.
Current traditional music streaming platforms are not reliable when it comes to royalty payments and helping musicians to get paid. Most of these traditional music streaming companies act as intermediaries/middlemen between listeners, advertisers and, musicians. The companies take huge shares of profit and end up giving the artists a little percentage of the profit which is totally unfair to the artists.
However, platforms like Bitsong aim to change that by getting rid of intermediaries and middlemen by using the blockchain technology. This ensures that artists and musicians get support and payments directly from their listeners and advertisers without any interference which creates a fair music ecosystem.
Bitsong has already gathered and is still gathering a number of users which includes artists, singers, international DJs, and producers. This project also has a strong team of professionals and advisors on board.
New musicians and artists who are interested can sign up on the Bitsong website.
Check out the official website here for more information.