So today I tested out Musicoin by uploading a test track from My Beam Up musical identity.
You can listen and check it out ----> here
Hopefully there'll be an embeddable player soon!
It's an instrumental dub rock style track in the vein of French groups like Hi Tone et al. Heavy bass (check your subwoofer for this one!) and a lot of King Tubby style dubbing.
My thoughts on Musicoin are under the picture. After 25+ years releasing music on vinyl, CD, downloads and streaming I am definitely upbeat on the idea of decentralised blockchain based music services. Bandcamp doesn't cut it for me either...
Read on below........! Opinions welcome.
If you're not familiar with Musicoin, it's a blockchain based streaming site (at the moment), where you get paid in MUSICOINs for plays and people can also tip you in the currency (currently approx $0.03 US).
It's an interesting idea, as current streaming paradigms all involve massive companies that give favourable returns to record labels, serve advertising or take subscriptions for streaming and pay fractions of a cent back to the artist through a distributor (that typically take further 20%).
I've seen my digital distribution income drop by around 70% as streaming overtook downloads - as usual large corporations stepping in to take even more of the diminishing returns of the music industry theft business model. As usual, too many middle-men&women taking a cut as a result of the creation of more "services" to deliver music. Well now... perhaps their days are numbered!
One thing I don't get (fellow steemers, can you help here?) - we have to upload our music first... so - a centralised server? Seems to go against the general philosophy of a decentralised blockchain tech.
Would love to hear your thoughts.....!
Over to you
Its needed to cut the middle-men who rob artists of much of their livelihood, out.
Its just another case of where blockchain could potentially disrupt a long-established (and corrupt) industry.
Interestingly enough, spotify pays artists about $.005 per play, which is what the coin is trading at now.
If they are putting an expected "ceiling" on the coin at a penny, it's not a huge upside investment. You do gotta like the active dev team, the windows wallet, and the website. In a sea of scam ICO's or launches that are WAY too early, this kind of seemed like it had its shit together a bit more.
Having checked my own spotify returns - it's anywhere between $0.001 and $0.002 per play! I've been chatting with the team on Slack and have found them very responsive to suggestions.
Personally, I prefer this to musiconomi (I don't like the model of share-to-be-paid ... it's spammy)
n.b. musicoin is currently trading at about $0.03 - 5x $0.005 ;)
You added too many zeros. Musicoin hasn't dropped below $0.01 as long as I have been following it. Usually between 2 & 5 cents.
Further, there isn't a ceiling. The cost per play in MUSIC decreases as the monetary value of MUSIC increases. So when MUSIC is worth $0.25 is will cost around 0.20 MUSIC per play instead of 1.0.
I for one, think the platform is missing the "purchase and download" song option. I don't think I should have to keep paying for a song each time I listen to it. If that were the case, I would have had to pay about $6,000,000 on Dave Matthews over the years ....
Don't get me started about that hehe. I'm not even that keen on Bandcamp, who sold out their users with their paypal deals. What do I mean by that?
Paypal take their % cut on the GROSS $ paid by the buyer to Bandcamp, not the actual money that Paypal transfers. This is simply dishonest and clearly designed to nickel+dime every transaction, making them a packet on the volume.
There is no possibility to bundle/limit-pay Bandcamp payments. By that I mean "pay me out every time my balance reaches $10/20/50 etc). This makes sure that Paypal clean up on their %ages, which are the highest on small amount transactions - the majority of Bandcamp digital sales (a $1 single track)
The average combined % cut from both paypal+bandcamp is %25!!!! That's %5 more than my digital distributor. This, for me goes against their touchy-feely "we care so much about musicians" PR speak.
I'm not against Bandcamp per se - they do happen to be the best alternative, but there is no competition to this model (yet) and when that is the case, shit like this creeps in piece by piece....
The Musicoin approach with streaming & the blockchain definitely has the potential to make Spotify et al redundant. Bring it on.