Blockchain-powered smart speaker rewards artists
This blockchain-powered smart speaker is making paying artists off the chain.
Or I guess it would be on the chain? On the blockchaaaain!
Blockchain technology has already infiltrated the music industry, with hopes that it will revolutionise payment in a currently uncertain system.
Some musical blockchain systems include Blokur, who represents more than 3 000 publishers and 10 000 songwriters, Spotify purchased MediachainLabs, Bjork is using AudioCoin and Gramatik started his own cryptocurrency, GRMTK.
There’s also Project Coral Reef, where fans can buy discounted merchandise through Monero, which hosts over 40 major artists including Mariah Carey, G-Eazy and Sia.
BLockchain technology is definitely on the rise, with companies getting more creative in how they present these systems; enter ROCKI and the Volareo smart speaker.
A round of applause for Volareo
Created by The Musicoin Project and ROCKI, Volareo is the world’s first smart speaker that’s powered by blockchain technology.
Volareo allows users to listen to free music while immediately compensating artists.
In using Musicoin blockchain technology, the smart speaker reportedly pays artists $0.10 per play (current valuation), making other streaming services seem stingy regarding pay-outs.
Each Volareo speaker comes with a unique wallet address pre-loaded with $10 of Musicoin. Users can further compensate their favourite artists simply by clapping their hands or pressing a button on the mobile app.
Currently over 2 500 artists are signed up to the online Musicoin platform.
Isaac Mao, creator of Musicoin said:
“With Volareo, you don’t just listen to and discover new music — you reward your favourite artists instantly. By partnering with ROCKI, we have created a device that gives music lovers the ability to kick off a revolution right from their living room. This has been a dream of mine for years.”
Whether or not the blockchain movement can truly change the music industry only time will tell as we are still in the infant stage of this revolution.
The blockchain-powered smart speaker, Volareo, is due for release by the end of 2018.
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