Join JAAGNet and Group

SIgn up for JAAGNet & the BlockChain Group its FREE!!

 

Member Benefits:
_____________________

 

Again signing up for JAAGNet & Group Membership is FREE and will only take a few moments!

Here are some of the benefits of Signing Up:

  • Ability to join and comment on all the JAAGNet Domain communities.
  • Ability to Blog on all the Domain communities 
  • Visibility to more pages and content at a group community level, such as Community, Internet, Social and Team Domain Community Feeds.
  • Make this your only content hub and distribute your blogs to LinkedIn, Reddit, Facebook, Twitter, WhatsApp, Messenger, Xing, Skype, WordPress Blogs, Pinterest, Email Apps and many, many more (100+) social network and feed sites. 
  • Opportunity to collaborate (soon to be  released) with various JAAGNet Business communities and other JAAGNet Network members.
  • Connect (become friends), Follow (and be Followed) and Network with JAAGNet members with similar interests.
  • Your Content will automatically be distributed on Domain and JAAGNet Community Feeds. Which are widely distributed by the JAAGNet team.

Join Us!

Bronze Level Contributor
Audius Rallies EDM Artists, Crypto VCs to Back Vision for Music Payments on Ethereum

(Krys Amon/Unsplash)

Music is back on the blockchain. 

Audius, a streaming service that connects music fans directly with artists, has raised $3.1 million in a strategic round co-led by Multicoin Capital and Blockchange Ventures, with participation from Pantera Capital and Coinbase Ventures. 

Audius has now raised a total of $8.6 million as the platform prepares for prime time, having grown in less than a year to over 250,000 monthly users and 40,000 artists. EDM artists seem to be the site’s burgeoning specialty with notables including RAC, deadmau5, Lido, 3LAU, Zeds Dead, Mr. Carmack and REZZ all signed on.

The blockchain use case for music is a familiar one: the inequity and tardiness of the revenue model of streaming services like Apple Music and Spotify.

“It shouldn’t take a year and a half to get paid, and it’s just crazy that the people creating the music only take 12%,” Audius CEO Roneil Rumburg said in an interview. “After this extreme time delay, the artist just gets this check, so they don’t actually see who’s listening to them. There is no visibility because the artist doesn’t own their own data or their audience.” 

The Audius P2P network allows artists to be paid in full by their fans, directly and instantly for every stream with the ability to cash out daily or hourly if they want, Rumburg added.

‘Fair trade’ but for music

Ethereum-based Audius picks up the mantle carried by ConsenSys-backed Ujo Music and groundbreaking projects like Imogen Heap’s Mycelia, which the artist described as “fair trade” music.

Indeed, folks such as Jesse Grushack, co-founder and CEO of the now-shuttered Ujo Music, have helped and advised Audius, as has Ujo’s former artist-in-residence, André Allen Anjos, better known by his stage name RAC, a Grammy Award winner who has remixed the likes of New Order, Lady Gaga and the Kings of Leon.

Anjos, who worked with Ujo for over a year and released an album on Ethereum, said the problem was the complexity of onboarding users.

“We used to kind of joke that it could take like 36 steps to get ether into MetaMask,” Anjos said in an interview. “Just to interact with these systems you needed to go through this crazy setup, and I think Ujo kind of suffered from that. But today, if you go to Audius it’s a pretty similar experience to any other platform, arguably better. That initial barrier to entry is not a problem anymore.”

Audius, which was founded in 2018 by Stanford University buddies Rumburg and Chief Product Officer Forrest Browning, has benefitted from “a kind of diaspora of talent that had already been working on this problem,” said Rumburg. 

“Back in 2016, when these projects came about, was just really early,” he said. “The amount of stuff that [ConsenSys founder] Joe [Lubin] had to build from scratch was just this astronomical ask.”

The Audius team may have built the music player with a user interface that looks and feels like Spotify or SoundCloud, but it couldn’t be more different under the hood.

Decentralized streaming

The network consists of indexing nodes, which provide a discovery service, and content-posting or creator nodes. This intersection of fans, artists and infrastructure providers who host and index content (“stakers” in blockchain parlance), uses both the Ethererum public blockchain (which is where all the staking and look-up nodes are running) and a second, permissioned network where the uploaded content lives. 

Continue reading

Originally published by
Ian Allison | July 30, 2020
Coindesk

E-mail me when people leave their comments –

You need to be a member of JAAGNet to add comments!

Join JAAGNet

JAAGNet Blockchain Feed

JAAGNet Blockchain Events

JAAGNet Blockchain Blog Archive

See Original | Powered by elink

JAAGNet Channel Blockchain Video Playlist