Blockchain technology can be used for many different purposes. Although most people see it as a way to revamp finance, content creators stand to benefit a lot from it as well. Ujo Music was released one year ago, aiming to promote direct fan-to-artist payments. Despite their Tiny Human prototype release, there were still issues that needed to be addressed. After a long hiatus, the team is back with some exciting news.
The music industry works very differently from what most people assume. Copyright monitoring and enforcement are top priorities. Using the blockchain for music metadata distribution, and even artist development needs some fine tuning. The Ujo Music team took a second look at everything they aim to achieve and gained a better understanding of the industry as a whole.
One thing is sure: most of the music industry heavyweights want to clean up the system. Mainly global metadata has been a pain in the rear so far. But there are other recurring issues and concerns as well. Artists are struggling to be heard in the growing sea of music creators. Solving that problem will be quite a challenge, though.
The blockchain is good at doing a few things. Ujo Music uses the Ethereum blockchain to keep track of information and store it in a decentralised manner.Storing music artists’ metadata should not be a problem for this distributed technology. While this may not be the “sexy” thing to do with blockchain, it solves a significant problem.
Most artists wouldn’t mind having their information owned and controlled by themselves. At the same time, the blockchain lets them share it with the entire industry. All industry members would support and share this type of information sharing and recording. More importantly, creators can set their own terms for the rest of their career.
What would set this service apart even more is how an artist’s’ identity would not be tied to just one platform. Right now, artists need to make accounts for all platforms they share creations on. Making this identity portable is one of the priorities for Ujo Music. The team also focuses on direct fan-to-creator payments. There is plenty of work to be done, but the team is hopeful to make an impact on the music industry over the coming years.
Header image courtesy of Shutterstock