AdaPulse -The Music Streaming Marketplace: projectNEWM. The blockchain music streaming service

The Music Streaming Marketplace: projectNEWM
BY
LIBERLION

Link to AdaPulse article;
https://adapulse.io/the-music-streaming-marketplace-projectnewm/

Link to "The Transformation of the Music Industry in the Digital Age";
https://projectnewm.io/the-transformation-of-the-music-industry-in-the-digital-age/

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what music streaming service is the best?
In this video we discuss "are music streaming services fair to artists?", "why music streaming is bad for artists" and "music streaming on blockchain"

For there to be an evolution in society, there must be a new technology that is very useful and user-friendly.

However, this is necessary but not sufficient, and for this evolution, technology must be disruptive, causing a paradigm shift, ((that is, a new way of doing things.))

Culture in society is an important element in paradigm shifts, and I agree with LiberLion that music is one of the most important arts in the history of mankind.

The financial structures that govern the music industry in the digital age are antiquated.

Most streaming platforms and record labels take the “Liberlion’s” share of the revenue, leaving little or no rights to the artists, mainly the less famous ones.

Snoop Dogg mentioned this himself on the Twitter space with Charles Hoskinson

In addition, there is no possibility for fans to interact financially benefiting from the artistic production.

The paradigm shift will be music becoming a collector’s item again, creating a new asset class and combining it with DeFi ((Decentralized Finance)).

There’s an article on the topic that I’ll leave in the description below

So, A group of people had the vision to create a community-owned platform, which will directly connect artists with their followers, ((eliminating intermediaries, replacing them with code in blockchain technology, and incentivizing profits))

The projectNEWM aims to change the music industry, removing power from the intermediaries between artists and their fans.

We have seen the interest that non-fungible tokens ((NFTs)) have in the world of digital art, mainly in Cardano, as native tokens.

Now NFTs will be used in the music industry.

Artists will be able to securely sell or auction music via NTFs as well as Intellectual Property rights, directly to fans, music labels and investors

((Even partial royalties can be sold or fractioned))

The more successful artists are, the more value their NFTs have.

This creates monetary and marketing incentives, generating revenue for all owners of those NFTs.

Both members of the artistic production, as well as investors, will receive their fair share of music streaming rights, when they are using the NEWM application for distribution.

Royalties may also be collected from other major streaming services where agreements are reached, y’know like Apple Music, Google Music, Spotify, etc.

In addition, the DeFi protocol will allow members of the artistic production to use their NFTs as collateral to borrow from investors.

Fans can also be investors.

Cash flow is a must for artists to focus on their next big project.

This projectNEWM will make crowdfunding possible in a peer-to-peer system.

The core technology of NEWM will run on Cardano Layer-1, regarding NFTs for copyright and song sales but the actual streaming will run outside of the Cardano blockchain.

The name NEWM derives from the word neume, the basic element of Western and Eastern staves, before the invention of five-line staves.

Don’t know what a stave is? It’s basically the lines that music notes are written on.

This is how music is written now with the five lines, and this is how they used to be written in the Neum way

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