Streaming has destroyed earnings for working musicians
Curated digital collectibles platform RCRDSHP, pronounced ‘record shop’, is disrupting the music industry with a new project on the Flow blockchain. The platform offers curated digital collectibles built by and for the electronic music industry, utilizing blockchain and non-fungible tokens (NFTs).
The rise in blockchain-based streaming and NFT music delivery platforms comes from more than a decade of music industry monopolies squeezing artist profits to the point of no return. Platforms like Spotify dominate the landscape, but reward artists unfairly. What’s more, they restrict access to fan data and analytics, preventing artists from potentially growing and reaching new audiences and revenue streams.
RCRDSHP is building a new solution on the Flow blockchain designed to address and improve the weaknesses of existing music distribution systems and realign incentives in favor of working musicians and fans. To start…
