Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
Blockchain

Guy J’s new track attracts $24,000 from fans on blockchain-powered ROCKI 

Varsha SaraogiBy Varsha SaraogiUpdated:December 17, 2020 on December 17, 2020
Share
Reddit Facebook Twitter LinkedIn Pinterest WhatsApp Email

The pandemic has impacted economies around the world. From job losses to companies going under, most sectors have felt the hit in the aftermath of Covid-19. Gig workers in the music industry are no different. The Coronavirus-induced lockdown meant artists and DJs were struggling to keep their work alive.

Undoubtedly, there was an urgent need for an alternative way for them to continue their passion. Now, Lost & Found label boss Guy J – also known as Guy Judah – is capitalizing on blockchain to do so through music streaming platform ROCKI. More recently, he raised $24k for his latest release Cotton Eyes, he announced. 

The newest track sold an ERC721 Music NFT contract for 50% of future Royalty rights on ROCKI, auctioned on Bounce.finance for 40 ETH  or $24,200. Having launched two non-fungible tokens (NFTs) namely ERC721 Music NFT and ERC1155 Music NFT, the first Royalty income right Music NFT – an ERC721 Music NFT – was sold for 40 ETH which is circa $24,200.

Commenting on the startup’s recent success, Bjorn Niclas, ROCKI CEO & co-founder said: “This, the first successful transaction of one of our music NFT’s on ROCKI, opens up a new, much-needed revenue stream for artists while simultaneously creating a wealth of new fan engagements and value.

“We believe that the ability to issue the ERC-1155 Music NFT’s for exclusive listening privileges or the ERC-721 Music NFT’s for Royalty income rights of a track on ROCKI is the next step forward.”

Niclas detailed that the platform is not limited to artists with a large following. “Regardless of the initial size of their audience, artists can capitalize on their existing fan base with the introduction of Music NFT’s and our unique hybrid user-centric payment model for online streams, even in uncertain times like these,” he added.

ROCKI on a mission to help musicians

Alongside leveraging modern technologies such as blockchain, startups such as ROCKI also aims to encourage independent artists. On the other hand, with streaming platforms like Spotify artists get less than 2% for their work as most royalties get distributed.

Powered by the ROCKS token, it is the first platform that rewards both the artists for their streams and the listeners. Essentially, the platform enables artists to raise money in Fiat and crypto where fans can invest in their work and – in return – get a share of royalties. Every time a song is streamed, the royalty’s portion of their subscription is divided only among the artist they listen to. 

“ROCKI is democratizing the future of the music industry by allowing for the removal of unnecessary middlemen/intermediates and allowing direct payment relationships between artists and listeners,” it said in its company whitepaper.

Blockchain Startups
Disclaimer
Read More Read Less
The information provided on this website shouldn’t be considered as investment, tax, legal, or trading advice. Morning Tick is not an investment advisory platform, nor do we intend to be. The publication, its’s management team, or authored-by-line doesn’t seem liable for your personal financial losses, which may be due to your panic decisions based on the content we published. We strongly recommend considering our stories as just a piece of information, unlike advice, recommendations, or requests. Some of the contents may get outdated, updated, or inaccurate despite our profound editorial policies. We urge readers to do their due diligence before making any investments decision with ongoing IDOs, ICOs, IEOs, or any other kind of financial offerings. Few outbound links may be commissioned or affiliated, which helps us grow financially and maintain healthy editorial norms. For more information, visit disclaimer page.
Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
Previous ArticleJack Dorsey’s Square on a mission to become zero carbon by 2030
Next Article Automotive industry to witness complete digital disruption in three years, Gartner says
Varsha Saraogi
  • Twitter

After getting an MA Journalism from the UK, she has been published in Reuters, The Independent, Elite Business Magazine and continues to follow her passion in technology and business.

Recommended Posts

Pocket Network growth up 80% MoM to 9.5b relays due to industry demand

10 months ago

OVR Global launches Map2Earn to crowdsource the largest high-precision 3D map of the world

10 months ago

Promodex.io uses blockchain technology to revolutionize Influencer marketing

12 months ago

How self-executing smart contracts helping small businesses boost efficiency

12 months ago
Add A Comment

Comments are closed.

Latest

Introducing Lucky Mystery Box, Crypto lottery based on TRON with a prize pool of 1M USDT

5 hours ago

GlobalDots joins forces with Coralogix to save companies 40-70% on full-stack observability costs, launching a debut CDN log management solution

3 weeks ago

KX.finance announces upcoming DeFi/DEX aggregator launch on APTOS/SUI blockchain

3 months ago

HyperBC Group unveils Zero interest Crypto Credit Card HyperCard, obtains Lithuanian Financial License

3 months ago

Unplugged launches its mobile App Suite to help consumers reclaim their privacy

3 months ago
Morning Tick
Facebook Twitter Instagram Pinterest RSS
  • About Us
  • Press Toolkit
  • Disclaimer
  • Contact Us
  • Privacy Policy
  • Sitemap
© 2022 Morning Tick. Disclaimer: The information provided on this website shouldn't be considered as investment, tax, legal, or trading advice.

Type above and press Enter to search. Press Esc to cancel.