Blockchain technology has been successfully implemented in various business and non-business sectors and the entertainment industry in one of those. Several digital contents, video streaming, and music based platforms have adopted DLT to either savor the benefits or be future ready.
One such company is Muzika, the online music stream platform. The blockchain based platform aims to strike down the gap between musicians and music listeners, to provide the former the recognition and money they deserve. Taking the game a notch higher, Muzika tweeted that it has partnered with Binance, world’s leading crypto exchange, and decentralized network, to create a decentralized digital music ecosystem.
https://twitter.com/muzika_official/status/1134335592085446656
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The music industry has been extremely biased and unfair, especially to young and upcoming musicians and artists, who more often than not do not get what they deserve. Even though more and more people listen to music and songs everyday, artists seldom get appropriate remuneration or recognition. These drawbacks of traditional music streaming platforms are what Muzika aims to change with the help of Binance Chain.
On its official website, Muzika states,
We will reform how value is created and captured by various players within the industry. We will return rewards to those who create the value, from those who merely transfer the value, while recovering the share lost from digital piracy through blockchain technology.
The platform has aims to provide a larger audience base to musicians, while the charger just 10% and giving 90% of the income to the artist. This way, it wants to empower musicians by giving them a chance to reach out to more number of people with a considerable increase in income.
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In 2015, Muzika created the online instrumental music platform Mapiacompany, and within three years, it claimed the Numero Uno spot in instrumental music streaming globally. This shows that the team behind Muzika knows a thing or two about creating music platforms, and its partnership with the industry’s beloved Binance Chain could just be the thing it requires to take the online music streaming by storm.
