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EMusic Launches eMU Token to Help Artists Earn More Royalties

Vandana Malik by Vandana Malik - 12:41 PM May 27, 2020
EMusic Launches eMU Token to Help Artists Earn More Royalties

EMusic which is the digital music store has recently launched eMU token,  a great initiative to help the artists especially musicians to earn more royalties. This special token was announced by the firm on May 26. Through this token, the firm is aiming towards a more sustainable music ecosystem.

It is not only a token, but this could also be seen as a payment method which will give a facility to all the artists to keep more royalties on this platform. Tamir Koch, president of eMusic has said that streaming has increased revenues and adoption but it is unable to work that good for the artists.

EMU token by eMusic creates commercial model

According to Koch, these eMU tokens by eMusic are there to create a complete commercial model. Due to this, the funds will flow fairly between artists, fans and other music services. One of the spokesperson of the firm has praised the use of blockchain which helps to completely decentralize music distribution. The eMU tokens will also provide various features which will be offered directly to the fans.

It has also been specified that all the fans who will be interacting on the platform will be receiving various rewards. As far as offering revenue to the artists is considered, the artists will be getting 50% of the overall revenue generated by their music.

Crypto assets might change the music industry

eMusic was launched way back in 1998 and it has been well known as one of the first websites which offered DRM-free MP3 recordings. A lot of people believe that crypto-assets can work great in changing the music industry because it completely eliminates the role of middlemen. Earlier it was said by Eric Doyle, a huge tech marketing and PR consultant has said that a lot of musicians and listeners are now turning towards DLT. This attention towards DLT might prove as a great move or a turning point in the music industry.

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About The Author
Vandana Malik

Vandana MalikI have received my Master of Arts degree in English from GEHU, Dehradun. Currently working as a content writer with Agio Support Solutions and earlier worked as a news editor at Business News and Information Services Private Limited. An enthusiastic content writer, aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing my own knowledge as well.

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