If you've followed me for any length of time, I'm sure you've seen me talking about this musicoin network and how it is going to become a huge asset for the indie music industry once giants like YouTube start charging for access to their servers.
For a quick recap, musicoin network is a new crypto currency competitor for systems like SoundCloud. DLive would be the equivalent on steemit.
Listeners sign up and listen for free, but each play pays the artist one musicoin currently. The coins that are paid are created out of mining so the end user or the listener doesn't have to be charged a fee for the artist to get paid.
This type of system is going to make it a no brainer once other popular music sites start to lock down and charge memberships to retain profit margins.
With any new crypto currency, it is very hard to determine how much staying power it has, or how legitimate it is compared to others.
There are some key markers I have found can help us figure out if a coin was created to add real value to our lives, or if it was just for the CEO to make bags of money from the ico for their own happiness.
One of those key factors is the coins ability to get listed on exchanges and wallets. This means that these trading platforms trust the team and the idea enough, proven through market cap investment numbers, to add them to their list of strong currencies like ethereum and bitcoin. Now, certain milestones like getting listed on coin market cap - the leading platform for crypto rate info - are not as powerful in my eyes as a deciding factor for its success because I have even seen scam coins achieve this, but musicoin has just hit a huge milestone in my opinion.
They just had their coin added to the mainstay list of the coinomi wallet!
I was very excited to see this new step completed as an investor in this crypto since it's conception. My team is activelyining this currency still even today because we believe in the power that this network holds for the music industry's future.
They already created a home listening device which I posted about a little while ago, and they are currently in the process of creating an app similar to soundcloud or Spotify to stream media to smartphones.
The future continue#s to look bright for the musicoin currency and I highly suggest any indie artists to join the platform and start making coins - real royalties per play on their music asap!
That's all for now!
Cheers,
Chris