Musicoin is a streaming platform. Anyone can listen to music for free without advertisements.
The platform is empowered by smart contracts on blockchain with no centralized entity.
According to the official website, only qualified musicians can upload their tracks for now. However, musicians are compensated more fairly than major streaming services.
With no intermediaries involved, musicians can get 100% of the earnings and distribute the revenue to several beneficiaries.
Each time listeners stream their tracks, they can receive “MUSIC”, which is a global currency. MUSIC can be exchanged for fiat currencies through crypto asset exchanges.
In addition, listeners can buy MUSIC to tip their favorite musicians. In the future, Musicoin plans to add more functions such as paid downloads, fan merchandise, etc.
The platform has served 6 million streams to listeners and paid 10 million MUSICs to musicians.
(As of September 5, 2021)