A startup MusicPlayce, which has among its investors artists such as the sertanejo duo Jorge & Mateus, will put its cryptocurrency, MusicCash ($MUCH) on pre-sale next Monday (24). The platform allows composers to send their music guides, that is, a well-made preview of a work. Users, in turn, can indicate who could record the work and indicate this to artists who are already on the market.
$MUCH is a utility-type token, that is, it gives access to a product or service. According to the plan, between 1 and 5 years MusicCash must give music purchase access and non-fungible tokens (NFTs) to purchase tickets and create digital auditions. It is also on the map staking with the token, which is keeping the crypto on the network and receiving a reward for it.
The use of blockchain and tokens in the music industry is on the rise. This is because technology allows, for example, to eliminate intermediaries in the sale of music. In addition, it allows new recipes for artists, such as NFTs. TuneTraders is one such example. At first it serves to finance artists, but wants to become a kind of Spotify.
Access to MusicPlayce is via Google Play and the App Store. According to the platform, Bruno & Marrone and Jorge & Mateus had support from MusicPlayce. This happened in the songs “Coração de Isca (2021)” and “Instantes (2020)”, respectively.
“MusicCash will allow a universe of solutions to become reality. From the simple purchase of a concert ticket to the payment of copyright”, says Paulo Vitor Vilela, founder and CEO of MusicPlayce.