Major music service launches its own digital token

One eMu token costs $0.39

digital token

Major music service launches its own digital token. Source: unsplash.com

eMusic has presented its own digital token called eMU. The token is based on blockchain technology, thus making payments to artists more efficient and transparent.

As a result, music artists are able to keep more of the royalties they earn for purchases and plays. What is more, they receive real-time visibility into how their music is being consumed and by whom.

Streaming has dramatically increased revenues and adoption, but the model has proven itself to be fundamentally flawed. Hard-up artists receive a fraction of the royalties, while intermediaries take an ever-growing slice of the pie and leading services remain loss-making. The eMU token is now here to reinvent music distribution. It creates a brand-new commercial model built on fair compensation and transparent flow of funds between fans, artists, and music services
Tamir Koch, President of eMusic

From now on, music lovers can purchase eMU tokens on digital asset exchange Bibox. This way, they can buy their favorite songs and interact with their favorite artists directly on the eMusic service.

According to a statement, one token will be enough to buy at least one song on the eMusic store.

Besides, the fans will also be able to earn instant rewards from their favorite artists for sharing music and reviews and even crowdfund their favorite artist’s next tour.

eMusic also plans to allow musicians to independently upload their content to the store and elsewhere, thus giving them control over their careers.

We’ve reported that Mastercard announced the drop of its first-ever sonic-integrated music single.

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