Could this be the future payment method for musicians? I think they are on to something...
I have been playing around with Musicoin since introduced me to it a couple of weeks ago. I have uploaded a few songs and amassed a small fortune of 878 Musicoins ;)
Little Beggarman - https://musicoin.org/nav/track/0x6a3de54a538eb77846932ca353c93e9ee9cf320b
The core of this concept is that musicians get paid 1MC for every time someone listens to their music. Sounds pretty sweet. MC is currently valued at around USD$0.017. You may say, "Wow Bucky Big Deal." But wait! It is a big deal. Let me explain...
If you are not familiar with the way royalty payouts work you may be a little surprised. Here in Canada if a piece of your music is played on a major radio station you may get CAN$0.05 in royalties. Not a lot of cash. So the idea of Musicoin paying out 1 MC which is currently worth $0.017 does not sound too bad! I wrote the theme song to a TV show that was played across half our country and seen by 500k people per week. The monthly royalty payout for me was around CAN$4.
When I first started uploading the devs were passing out quite a bit of free Musicoins. I would regularly get 100MC tips for songs. When I share the link for my songs on other social media I get a few plays and I pick up some plays from other MC users. As I mentioned earlier, in the past couple of weeks I have received 878MC.
I will be continuing to upload music to Musicoin and see where it takes me. It certainly is more exciting than traditional radio and other old school distribution outlets.
Here is my Musicoin profile page - https://musicoin.org/nav/artist/0xf8b98650d93c2871f97e6c86c94600033ef9de0b
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Cheers,
BuckyDurddle