With the world of traditional banking suffering a severe blow to its public confidence after the SVB debacle, it’s no wonder many individuals might look for an investment alternative. For this reason, cryptocurrency has gained not only more attention but also more participants in the game of trading and investing.
Meanwhile, in the music industry, which may appear to be worlds apart from crypto, those who enjoy relaxing to popular tunes might look for artists who offer a totally distinct vibe (and do not contribute to any media drama). However, without the high-profile agents and the name recognition, these artists would go undiscovered, given the competition in the music business. With these situations in mind, one might wonder how these two industries, cryptocurrency, and music, could possibly correspond to each other. Tunedly proudly answers that question by meeting two disparate demands that involve giving musicians opportunities for airtime that they wouldn’t otherwise gain without connections to the big names in the business and by rewarding fans with TunedCoin as they discover new talent.
How do cryptocurrency, seeking out excellent music from indie artists, or (in the artist’s situation) getting discovered all tie in together? Tunedly comes into play by providing a multi-faceted platform that meets all these needs. Starting with the crypto aspect, co-founder, and CEO of Tunedly, Chris Erhardt, introduced TunedCoin as the official token for Tunedly. Music listeners can sign up with the Tunedly platform which has become widely popular for streaming music by some of the best up-and-coming artists and earn the coveted crypto token by discovering new hits. As a member of the Tunedly community, these folks enjoy great music and play a significant role in getting the artists discovered and published.
Similar to the process of well-known T.V. shows, like American Idol, Tunedly’s fan base can vote for their favorite artist if they believe this person should be signed onto a recording deal. This is where the win-win occurs for both fans and musicians. The artists are unknown, so the Tunedly community has a chance to focus on the music without the advertising hype. From there, they vote for their favorites by giving them a star and get rewarded by earning TunedCoins and music NFTs. Thus, the artists gain a fair chance at more exposure without the media or any obscure committees giving input. Only the public who have joined Tunedly can decide. And with the possibility of being rewarded for their votes, more people will want to join Tunedly for the quality of music and to get in on the action with TunedCoin.
Again, one may wonder how this process will affect TunedCoin’s value. There is more to the game. If a user’s selected artist gets signed to a publishing contract, then the user receives a TunedCoin and the artist’s music NFT. As the song increases in popularity and achieves more sales and airtime, then the user can actually receive a share in the royalties. Hence, music fans reap the rewards for contributing to an artists’ success, and the artists, through a more just system, gain a record or publishing deal and the fame that comes with it.
Source: https://thecryptobasic.com/2023/04/24/how-tunedlys-crypto-token-will-shake-up-the-music-industry/?utm_source=rss&utm_medium=rss&utm_campaign=how-tunedlys-crypto-token-will-shake-up-the-music-industry