Quote from: dynoman on November 24, 2017, 12:38:56 AM

Quote from: Melissa Smile on November 23, 2017, 04:39:05 PM

Hi, look like another good crypto-project in music world

But is the project alive?) What the difference between Songcoin and Musicoin?

Thanks for the question and what a great opportunity to go back over the brief history of Songcoin.

Songcoin came into being from another idea called eBeat in 2008, which was intended as a music monetization platform post Napster and to redress the resulting decimation of the music industries traditional revenue streams. The basic value premise was that there would be a release radar platform with new music either in demo or published form for evaluation by users and if you liked a particular song or their music you would send them a token value as an investment. Then you have an interest stake in that piece of work. This gives the artist immediate revenue and a gauge of future popularity. Once released for distribution the revenue from future sales is shared by both the artist and the savvy investor. This why we always used the line 'Songcoin - Invest In Music'

When we started eBeat in 2008 we had no idea how the platforms software would work and our seed funding barely covered the legal aspects of copyright etc. The project drifted along until Satoshi created Bitcoin and then we knew this could be the token distribution engine room we were looking for back then. We also knew back in 2010 that Bitcoin was probably going to be one of many future crypto coins so why not create our own industry specific token. That's when we started Songcoin.

At some point in time since Songcoin's creation we've had the ear of all of the big digital music players. Sadly the unfortunate fact is that people won't pay a penny for music when they can get it for free. If you're feeling generous you might subscribe to Spotify premium where the mega-artist gets a tiny fraction of the associated revenue. The rest get's eaten up by administration costs. You can see how perfectly blockchain tech fits in here as the kicker to return money where it's deserved.

We contacted Myspace, at the time it was a floundering beached whale without direction (kinda still is). What a perfect opportunity to enliven the platform with a ready list of subscribers who would love to support their favorite musicians. Sadly they wanted everything for free and not interested in co-development of the idea.

Another possible application is utilizing the blockchain as an interactive ledger to record music metadata and distribute royalties to vested parties. Conceptually you could distribute royalty micropayments to everyone involved in the creation of a piece of work from the artist to the session muso, to the producer, to the guy who adjust the mic etc. This is one exciting potential application.

Will we ever return to a world where we pay a fair value for music to enjoy something we love and that gives us a sense of pleasure?

Perhaps we have, it's called Vinyl and it's highly successful. Have a look at this

https://youtu.be/PF4A4wdnXkU

Thank you for such wide answer

I will learn more about Songcoin ^)