Hello Crypto World, My name is Guntur and i lived in Indonesia.
I like to hear music almost everywhere and everytime, while working or my free time.. Indonesia itself has a population estimated at 266.79 million in 2018. and according to spotify Indonesia data, Indonesians listen to music at least three hours a day. Can you imagine that? it's explains how big and great the music streaming services was.
But, music streaming services these days got so many problem, from expensive monthly vip for customer and small income for the artist.
In a just world, artists will get their unspoiled cut per play. Of course, we can’t forget about the other rights holders like music labels, producers, etc. Each party is staking their claim on the cash flow. Making heads from tails on who gets what quickly becomes a mess. Things can be further complicated when you factor in the metadata. Metadata, which is tied to tracks, is valuable information such as who the right holders are. But, this data is frequently overlooked, not standardized, or incomplete when entered in, in the first place. Moreover, it only takes a quick shake of the first to strip it away. Incorrect or missing metadata means that an artist has a harder time tracking plays online and may not get paid for their work.
For a while now, musicians voiced their anger in the titanically successful music distribution platforms that do little outside of serving themselves. Recently Spotify unveiled itself with an IPO and witnessed their valuations explode to over $25 billion with their employees taking home juicy wages of about $170,000 a year.
Regardless of these high figures, musicians that partner with Spotify receive less than a penny each time a song is streamed. Hardcore fans would need to play a track two hundred times in one year to contribute dollar through Spotify.
Well, right now. I'm gonna introducing to all of you RECORD FOUNDATION
Record Foundation runs the first reward-based music service platform, RecordFarm. A solution to the traditional music industry, it creates the healthy environment where creative works are valued, curations from users are rewarded, and transparency is ensured. The new ecosystem, driven by blockchain technology and RECORD token, simplifies the process and eliminates unnecessary intermediaries.
The RECORD Project is attempting to re-create the economics of the music business in favor of the artist. By using the blockchain and the RECORD (RCD) token to measure and reward an artist for the use of their work, RECORD Foundation can be one of the first companies to succeed in removing the 16th Century system whereby an artist gives up most rights to a publisher and instead becomes their own publisher. Artists will be able to track where their music is being played and calculate the amount of usage and get paid.
According to Record Foundation roadmap, they gonna hit exchanges in the early Q3 2018. Then expand the exchanges and create record wallet 1.0 in Q4. To raise funds for this great project, Record Foundation will conduct the public sale of their RCD tokens. Right now RCD ICO is Live, You can join on https://recordfoundation.org/authentication/signin
Well, it's enough chit chat. You can try it yourself RecordFarm2.0 App on https://play.google.com/store/apps/details?id=com.recordfarm.recordfarm or https://itunes.apple.com/kr/app/%EB%A0%88%EC%BD%94%EB%93%9C%ED%8C%9C-recordfarm/id946722763?mt=8
This article just a short introduction about Record Foundation, You can always read their whitepaper on http://recordfoundation.org/public/RecordFoundation/assets/pdf/RECORD_Whitepaper.pdf or join their telegram on https://t.me/RECORD_Foundation for more details information
AUTHOR:Gambangcity
ETH:0xbd4e6B6E19c55D117badfa5C218Ae03263df6072
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