A new musical ecosystem
Sydney’s Emanate is building a music streaming and collaboration network on EOSIO and is determined to create a new musical ecosystem.
Most musicians struggle to earn a continuously reliable income. With the advent of the digital age disrupting the traditional revenue model, artists are able to rapidly distribute their music with customers able to find it more easily than before.
Inevitably, new players have emerged as industry giants by evolving paid streaming models that leverage economies of scale. This has led to a widening chasm, however, between pop’s superstars, who carry off the vast majority of the pie, and the rest. The ‘middle class’ of musicians who are able to make a good living by selling recorded music is generally understood to have shrunk.
Step forward the Sydney, Australia-based team behind Emanate. They’re building what they refer to as an “Audio Exchange Protocol” which — according to Emanate’s CEO, Sean Gardner — will “put the music community back at the center of their world.
DeFi Streaming And Smart Collaboration
Emanate essentially brings two ideas together. The first is a decentralized streaming platform that allows musicians to earn money in real time as their music is accessed by listeners. The second is potentially more transformative: it allows artists to work together, via “smart collaboration” contracts on the blockchain, wherever they are in the world and without the need for “trust” between parties.
“Each time artists collaborate an agreement is executed on the ledger,” explains the one-pager on the Emanate website. “This brings clear transparency to the artists, and for the music producers and record labels it expedites the processes of dealing with multiple parties and long negotiations.”
The team has produced an MVP (Minimum Viable Product) which demonstrates the fundamentals of their technology. A file-sharing “smart collaboration” agreement tool, alongside the listening platform, pays out every two seconds a song is played. The MVP went live on the EOS blockchain test-net and was showcased in the Block.one village at the Blockchain Live event in London, in September 2018.
Next Level DAO Technology
According to Gardner, who previously worked in marketing and digital innovation for brands such as Red Bull, Adidas, and Volkswagen, Emanate takes the technology to the next level, laying the foundations for a viable Decentralized Autonomous Organization (DAO).
“We think there should be one place on the internet for artists to upload final audio tracks where they can be collaborated on, integrated into other systems, embedded, and ultimately allow payments to flow back to the originators in real-time,” he says.
So where did the original motivation for the company come from? Gardner says he and his co-founders had knocked the idea of building “some sort of real-time sound exchange” around for years before lighting on blockchain as the game-changing, bootstrap tech that could make it work. It probably also helped that “we were all musicians in some respect, some more than others.”
All about the Emanate Team
Besides Gardner, the core team includes COO Trent Shaw, and Industry Relations Director Jimi Frew, who brings unique insights from a successful career as an independent electronic music creator, producer, DJ, and entrepreneur. Together, the four friends have experience across technology management, software engineering, music production, the music business, marketing, and more.
Signing a strategic partnership with Vampr. me, a mobile platform that was named among Apple’s “Best Apps of 2017,” which facilitates music discovery and communication between musicians and music industry professionals, added momentum to their project. “The partnership meant that we would have over 400,000 artists ready to onboard to as soon as the platform was ready,” says Gardner adding that Vampr was growing at 1,700 users every day then already and they were excited to be a part of that.
Traditional Music Artists Benefit From Borderless Musical Ecosystem
Those artists, and others, will be able to upload original tracks, or samples, for collaboration and rapid monetization. They will be able to share their work and get paid for it without having to rely on handshake agreements and percentage splits worked out on the backs of envelopes. And if they live in countries where access to the traditional music “business” is limited, they’ll be able to join a new and borderless musical ecosystem.
Emanate estimates that there are some five million professional musicians globally. And it’s clear that scalability is fundamental to the team’s outlook. “EOS is simply the only blockchain that is able to handle the kind of throughput that a project like Emanate will require,” says Gardner. Transactions per second translating to musicians rebuilding the economy around their beats per minute is an exciting prospect indeed.
Originally Published Here
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
