Cryptocurrency can buy you a dance at a Las Vegas gentlemen's club or tickets to see the Dallas Mavericks in their 2018-2019 season. But if you're more into music than cabarets and sports, a record label in Texas recently started accepting crypto for music and band merchandise.
This is just one in a larger movement toward decentralization driven by blockchain and cryptoeconomics. One of cryptocurrency's selling points is that it's not "centralized" or stored in one database, but rather many databases. There are now efforts to apply that same thinking to music publishing and licensing, music curation and even journalism.
How crypto could work in the music world
Any discussion about crypto revolves around two separate but complimentary concepts: the token, coin or currency; and blockchain, the technology that supports it. Both are enticing to musicians because they remove the need for third-party organizations such as labels, and are said to give artists greater control of their intellectual property.
https://www.guidelive.com/music/2018/07/15/music-business-feedbands-cashing-cryptocurrency-dash-next-revolution
Topic: Music business is cashing in on cryptocurrency, but is it 'the next revolution'? (Read 37 times)
July 16, 2018, 10:24:19 AM
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