The Australian music exchange platform called Emanate (EMT), which is based on the EOS blockchain protocol, will reach the Ethereum network through Uniswap. Emanate is a “disruptive” platform that connects musicians, music lovers, and people related to the music industry through the EOS blockchain. The platform is based on two fundamental pillars: the token economy and smart contracts.
About the Emanate platform
The platform directly connects the fan with the musical artist, allowing the artist to have direct access to their royalties. Emanate is a project made by artists, which arises due to the existing deficiencies in the music industry, especially concerning the administration and distribution of royalties and income; since the artist, despite being the “center” of the industry, is the last to receive the remuneration. It is estimated that of 100% of the income generated by the music industry, only 12% corresponds to the artist, and it takes 6 to 12 months to receive payment.
What is the platform looking for?
The platform seeks to have a transparent royalty and payment system, closing the relationship gap between artists, record labels, and the community in general, in addition to promoting the growth of the music sector and empowering people who contribute and create value in the industry: artists, record companies, influencers, and followers.
How do artists benefit from Emanate?
Here are the five ways the artist can benefit from Emanate:
- It’s a quick and easy way to share and monetize music.
- Artists can get distribution with traditional music digital service providers.
- It is a reliable environment for collaboration through intelligent and automated digital contracts.
- Artists can “own” a part of the network and thus reduce subscription fees through the EMT token.
- Artists can receive instant and direct payments with no withdrawal limits.
It is estimated that 2021 will see a remarkable growth of the platform thanks to its compatibility with the Ethereum blockchain; its main internal projects are the launch of native applications, monetized playlists, and NFT integrations.
What do you think about this topic? Do you know about Emanate?
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