Two job ads announced by Spotify for engineers and a manager specialized in Web3 appeared on job search boards. This can be Spotify’s initial meaty solo raid of the area. The applications of this technical school in all probability became too obvious for the streaming platform to ignore.
The platform has had the blockchain on its measuring device for a minute currently. Back in 2019, once Spotify was serving to Facebook with their failing Diem project, Spotify’s business executive said:
“A SERVICE LIKE SPOTIFY . TO BE ABLE TO PAY ARTISTS DIRECTLY“
in relevance to the applications of blockchain and cryptocurrency in music streaming.
What will Blockchain Music Streaming Look Like?
The applications of not solely NFTs but blockchain technology within the music trade square measure happening right away. Platforms like:
- Audius
- Emanate
- Sound.xyz
are investing blockchain technology to vary the means we tend to consume music. These platforms use the peer-to-peer nature of the blockchain to enhance the streaming expertise for all parties.
Audius leverages the blockchain to chop out the middle-man within the streaming trade. Specifically, Audius doesn’t take a cut of the streaming revenue. All ancient streaming platforms manage the library of music uploaded, and thus manage the streaming revenue. On Audius, the artists have complete possession of the music uploaded.
Emanate takes this a step even further. Their Play-To-Earn model rewards users in addition. Not solely do artists receive their fair proportion, however, users conjointly receive rewards. taking note of new music, curating in style playlists and referral rewards square measure many ways that users will earn $EMT.
$AUDIO and $EMT Performance
Audius $AUDIO token has performed quite well the last short while, per CoinGecko. Over the last period of time, the token has increased 31st and 38thover the last week. On the opposite facet, $EMT has conjointly seen some steady growth. The last period of time is fruitful for $EMT holders, with a pure gold increase in worth. Currently, the token sits at $0.017, up to 33rd over the last 30 Days. It looks as if these music streaming tokens square measure setting out to develop steam!