To make it as a musician today means getting a huge record deal and warping your band into a pop sensation ready to star in the next commercial. Gone are the days were artists could make a living just by making good tunes. Or are they?
A new way to spread music organically while the artists gets paid for their hard work requires partnering with the innovations offered by cryptocurrency. Feedbands has done just that with an online music depository and record label without the contract that has reinvented the process of music sharing and selling. And it all is made possible because of Dash.
How does it work?
The web site combines the old with the new: a subscription-based membership service using Dash for purchases and payouts.
Songs are uploaded by artists and can be bought and downloaded using a Dash wallet. Artists get 100% of the profit from their sales.
Paid members are allowed access to vote on their favorite song. Songs with enough votes get pressed into exclusive vinyl releases and are mailed to the members as well as a supply to the band. Other popular songs get featured on the site’s homepage and their social media. However, it is all controlled by the subscription voting process.
The subscription fee is where Feedbands makes a small percentage of the money, which is made possible by Dash’s extremely low transfer fees and instant processing. Artists are able to receive 99.9% of all of the profits from subscriptions in the form of a record production and exposure.
This process places the power of music back in the hands of it fans and it does it through a fair, cheap, and rewarding process.
Musicians get paid while gaining expose in an unbiased, non-humiliating way. Plus, it is free for anyone to upload their songs, taking money and superficiality out of the equation when it comes to making it in the music business.
Listeners also benefit as well. They get to find new music and if they like it, they know that all of the money they spend on the song or album will go directly to the band. There are no hidden fees or third parties taking a percentage of the band’s money. If you are a subscriber, you get the power to promote bands you love, permission to comment on songs, and exclusive first listen of new records mailed to your door or sent to you digitally every month.
Powered by Dash cryptocurrency
This model cannot function on a fiat-run system and the owner of Feedbands, Graham Langdon, was well aware when he began looking for the best cryptocurrency to make his idea work. What he found in Dash was very similar concepts to his own site.
Dash uses a comparable governing system to manage their blockchain using masternodes and also regulates its funding with a voting proposal system. Through this technology, Feedbands was able to promote their concept by getting funded by Dash’s treasury for a SXSW showcase highlighting un-known bands. Dash funds paid for the event and the accommodations for 25 bands to attend.
The site now uses Dash for everything but the subscription fee where people can pay in dollars. They have released 58 vinyl albums and continue to expose music-lovers to new and exciting artists. And what really matters is that musicians get paid instantly and without a fee making real music come alive again. This would not be possible without Dash’s potential as a payment gateway.