The Crypto and Blockchain fever has been spreading at a truly alarming rate. Sectors that were previously thought to be fully centralised and impossible to penetrate have been completely decimated by the Blockchain fever. A most perfect example of that is the Defi industry which is the buzz of the Crypto world right now. Traditional finance from time immemorial has always been under fire because of its over-centralised nature. The big boys and money bags were the ones who called all the shots and got all the big breaks. But Cryptocurrency and Defi is rewriting that narrative.
Just like the Defi buzz, I believe another sector that will in the nearest future spearhead another wave of mass adoption and growth is the Music industry. The Music industry bears a rather striking resemblance to the Finance industry I just mentioned above, and that is both are heavily centralised. The global Music streaming market is valuated to stand at around $7.47 billion, and of that figure Spotify, Apple Music and Amazon Music come together to collectively control 67% of that market. Spotify leads the pack with 30%, Apple Music follows close with 25% and Amazon Music stands at around 12%. Then they leave a puny 37% for the rest of the hundreds of other Music streaming platforms to share. If the power there isn't too centralised to you, then I honestly don't know what else is.
And that is why I think this industry is ripe for the Blockchain takeover. With splendid Music Streaming platforms like Emanate Music leading the way, I see the top 3 getting a run for their money in the not too distant future. Emanate comes with the much expected feature of Decentralisation that Crypto is all abouy. Artists have a voice, as the platform is run as a Decentralised Autonomous Collective (DAC), which means that when artists stake their EMT tokens, they have a voice in the governing of the platform. Gone are the days when the artists just sit by the sideline and watch the decisions being passed whether in their favour or against them. Now they have the chance to air their thoughts and speak their minds, and they not only put out content by staking their EMT tokens they have governing power also. This I think will spearhead the revolution and migration that will soon hit the backward and ripe-for-harvest Music industry. And the beautiful thing is not just artists can stake, even someone like me with no musical talent whatsoever can stake his EMT tokens and begin to get interest on them weekly. And I also get governing power, that's super sweet.
Emanate's payout time is one no other platform in the industry can beat, not even the big boys. One of the biggest problems artists have is the time they get the rewards for their passion and hardwork. The thing about the centralised guys however is that they take too long to pay. For the big artists that's nothing, but for the upcoming little guys, waiting to get rewards for your Music quarterly seems just about too long. And so when I see a project like Emanate that offers the artists a chance to earn for their Music just 6 seconds after it is streamed, that gets me pretty excited indeed. That truly will go a long way in helping the little guys who will need the reward for their hard work. It follows just in line with putting the needs of their artists first, and that's why I really truly love the platform.
The Defi fever is looking like it won't relent anytime soon but like the ICO boom of 2017 I think it will. And after that will come another boom, from a different industry. My money is on the Music industry spearheading the next wave of boom and mass adoption hysteria. I also wouldn't put it past Emanate Music leading the charge of the Blockchain based Music platforms, I honestly don't know a more balanced platform, I'm open to suggestions if you have any. The smart move would be to go in and get a stake before the next wave of boom arrives.
DISCLAIMER: THIS DOES NOT IN ANY WAY CONSTITUTE FINANCIAL ADVICE. INVESTING IN CRYPTOCURRENCY IS RISKY, SO PLS ENDEAVOUR TO DO ADEQUATE RESEARCH.
If this solution can give back the power to the artirts. It is a good thing!