Just when you thought that you’d see the week through without hearing about some new cyptocurrency being launched, or crashing, or launching then crashing, we thought we’d let you know about one worthy of the sacred TMT blessing called Choon.
While we passed on hyping all the hip-hop-affiliated cryptocurrencies, Choon gets the TMT blessing because it’s being used to power the worlds first monetized playlist platform. This means that you, the playlist curator, can create a kickass playlist (or tiny mix tape, if you will) and get paid actual money for it. By actual money, we mean a cryptocurrency called NOTES, which you all know is better than “hodling” retro cash.
Choon is the brainchild of a British DJ by the name of Gareth Emery, and it’s probably best if we do a blockquote from the blockchain-based company:
Anyone on the Choon platform can curate their own public playlist. If tracks are streamed directly from that playlist, they will receive a set percentage of the streaming royalties. Initially, all playlist curators will receive five per cent of the streaming royalties in NOTES, the token that drives the Choon ecosystem.
Whilst the percentage of royalties is automatically set at five per cent per track, artists will have the ability to decide what percentage of their streaming royalties will go to playlist curators and they can adjust this as they wish. The changes can be as little as one per cent or as great as 100 per cent of their royalties, and in doing so, this will incentivise the track sharing on the platform and generate revenue for both artists and curators. This will also add a community-curated, quality assurance layer to the Choon platform.
International DJ and co-founder of Choon, Gareth Emery, comments, “This is a world’s first and will revolutionise the way people listen to and share music. Curators will be able to create playlists and promote them outside the platform, through social media channels for example. If you have a wide network, you can potentially earn quite a bit of money from people streaming tracks from your playlists.
In theory, this means that music lovers will be paid for simply loving music, and musicians will be paid fairly for simply making music.
In practice, what the hell are you waiting for?
