Blockchain will enable new streams of revenues for artists. Photo source: Unsplash

At the heart of the decentralized economy, blockchain-based applications like imusify will profoundly impact the global music business, worldwide. In fact, the 42.3 billion music industry is in need of a change partly due to unfair payment to musicians — stemming from inefficient royalty collection and distribution. In a response to the music industry’s pitfalls, imusify’s developers and founders have conceived a life-changing platform that runs on the blockchain.

What if musicians could get a fairer share of revenues? Will it be from streaming itself? What if artists, fans, and labels all contribute to imusify’s Smart Music Economy, powered by blockchain? We could even imagine a scenario in which all the contributors in the music industry all interact and receive rewards or incentives for doing what they enjoy the most: listening, creating, sharing, playing music, and more. Because the blockchain removes any intermediary, fans and musicians can simply split the benefits. No more high streaming costs for little rewards for listeners and no more missed royalties payments for musicians!

imusify was built on the idea to break the old model that shrinks musicians and artist’s revenues. For example, on Spotify, musicians earn less than USD 5,000 a year and wait up to 24 months to receive the payout. Yet, digital music consumption is on the rise, amounting 2.8 billion in 2018 according to Statistica, driven by the growth of streaming services. So why don’t musicians get more cash for their creative output? Why don’t listeners get paid for listening to curating new music thus helping great talents to get discovered?

With imusify’s decentralized P2P platform, artists can simply upload and share their music to a global community of avid listeners like you, like me. Organized in slack-like-channels, imusify enables musicians and fans to interact together for free and enjoy a streaming platform that does all in one: listening to music, sharing songs, creating playlists, sharing music to social networks, crowdfunding, and more. Sounds unrealistic? In fact, no. Everything is built on a real, viable product, one of the very few to have successfully developed this model. See for yourself: https://imusify.com/app.

The truth is that imusify will enable multiple sources of revenues for artists. For example, on imusify, musicians can unlock new financial opportunities through crowdfunding — to launch an EP or for a promo tour — or receive the right amount of cash from streaming.

It was long overdue but today, the model created by imusify is highly disruptive; furthermore, imusify permits new wealth to be created which benefiting the artists themselves. Thanks to the process of tokenization on the imusify platform, artists can now manage their own creative work and control their earnings. The IMU tokens, imusify’s native utility token, which can be used to perform actions on the platform, allows instant payment according to each user’s contribution. On a final note, musicians can now finally empower themselves thanks to imusify, rather than relying on labels with predatory contracts or streaming platforms which don’t redistribute the revenues.

Let the music be, get paid to create, get paid to listen.

The great news is that IMU tokens are now for sale. Get whitelisted here: https://tokensale.imusify.com