Tunedly, the music discovery platform that aims to disrupt the music industry by removing major label artist bias, has launched TunedCoin, a blockchain-based reward mechanism that allows musicians to earn music publishing deals and music fans to support and discover new artists and become lifelong fans.
The music industry has been facing a lot of challenges in the digital age, including piracy, low royalties, and a lack of transparency. Tunedly is addressing these issues by creating a fair and transparent ecosystem where musicians can thrive and fans can connect with their new favorite artists.
Tunedly’s music discovery platform allows listeners to play songs anonymously, so they only hear the song and do not have any bias based on who the artist is or how they look. Listeners have one free star that they can give to a song they believe could become a hit. If Tunedly ends up signing that song to a publishing deal, the first 1,000 listeners who gave that song a star will receive a TunedCoin and everyone who gave that song a star will get that song’s NFT.
TunedCoin is a polygon blockchain-based reward mechanism that gives music fans an active role in the music discovery process, also called A&R process.
The platform shares 50% of the publishing royalties the song earns with all NFT holders of the song, and the individual’s total share will depend on their TunedCoin holding. This creates an incentive for fans to hold on to their TunedCoin and support their favorite artists.
TunedCoin is not the first music-based cryptocurrency, but it is unique in its approach. While some music-based cryptocurrencies focus on creating a new currency that can be used to purchase music and other items, TunedCoin is designed to work alongside existing currencies and payment systems. This makes it more accessible to a wider audience and ensures that it can be used in conjunction with other payment methods.
TunedCoin is also unique in its focus on creating a fair and transparent ecosystem for musicians and fans. By using blockchain technology, TunedCoin ensures that transactions are secure and transparent, and that all parties receive a fair share of the revenue generated from music sales.
TunedCoin has the potential to revolutionize the music industry by creating a new revenue stream for musicians and giving fans an active role in the music discovery process. The platform has already received a lot of attention from the media and the music industry, with several publications praising its innovative approach.
Tunedly CEO Chris Erhardt said, “TunedCoin is a new way for musicians to earn publishing deals and placements while also connecting with new fans. By using blockchain technology, we can offer a fair and transparent way for fans to support new artists, while giving artists a fair share of the revenue generated from these sales.”
Tunedly is disrupting the music industry by providing a new way for musicians to monetize their work and connect with fans, while giving listeners an active role in the music discovery process. With TunedCoin, Tunedly aims to create a fair and transparent ecosystem where musicians can thrive and fans can support new and promising artists.