Digital CurrencyBased PeerTracks Music Decentralizes Talent Discovery
Houston, Texas October 21, 2014: Today, a new digital content economy will be launched via PeerTracks, a talent discovery and music retail website that operates on revolutionary new blockchain technology, made known through the controversial invention Bitcoin. Mouthtomouth advertising is the most effective form of advertising. We learn about things through sharing, whether on or offline. Bitcoin allows, for the first time, direct transfer of wealth between individuals. For the first time ever, PeerTracks is allowing listeners to choose, support and promote their favorite musicians and artists. Peertopeer technology like Napster, AirBnB, Uber and KickStarter turn industries on their head. In a bold entry into the music industry, PeerTracks not only cuts out extremely inefficient middlemen; it also links fans and promoters’ incentives towards the same goal: getting songs and albums out to the world and generating as many sales as possible.
Using stateoftheart digital currency technology, PeerTracks gives artists the ability to create and sell their own coin on the BitShares platform. Sold at a set price, ‘artist coins’ are limited in value and bought by listeners and fans. Fans have access to better and cheaper music, and know that their funds benefit the artist directly. PeerTracks makes being avantgarde lucrative. All amounts are received safely, securely and quickly as the platform is based on block chain technology. Artists are incentivized to share all of their music, regardless of its state of completion, since their coin becomes more valuable with songs sold. This is the first time
fans have been able to financially engage with their favorite artists or musicians without having to physically be present. “For the first time, artists can now engage and incentivize their fans into sharing their music,” says Cédric Cobban, cofounder of PeerTracks. “Using the blockchain, all trades are done peertopeer, no trust required.”
Artist Coins will be purchased with BitUSD, a cryptocurrency pegged to the US dollar. BitUSD shields users from volatility normally present with cryptocurrencies, while still passing the benefit of cryptocurrencies to the user. Notes, however, are sold in order to build the technology behind PeerTracks. PeerTrack runs on BitShares; all BitShares companies are
Decentralized Autonomous Companies. All DAC’s must be profitable or they will be displaced. In order to be a part of and benefit from this application, you must hold Notes. The more PeerTracks and it’s back end, BitShares Music, are used, the more the value of the note increases. There will be 1.5 billion notes available upon launch. The BitShares Music Foundation is having it’s Note presale right now allowing anyone with bitcoin to claim their stake in the future of music. PeerTracks cofounded by Eddie Corral and Cédric Cobban and is located in Houston, Texas.
Image Source: PeerTracks