Technology has significantly eased several activities of creative artists. With smartphones and computers, you can create stunning songs, films, music and artworks and publish them on any social media platforms even without spending a pie. However, the life of an independent artist is never a smooth sail during these days.
You need to spend on sizeable commissions demanded by streaming companies, brokers, retailers, license holders or publishers. That includes whoever else comes in between you and how much your creative work will cost you.
Given the scenario, the approaches options are either to brush aside the norm and do it alone or be happy with what the middle man leaves you. The good news is, blockchain features some great elements to help artists get the fair profit they deserve.
Blockchain database is present on many computers at the same time. This cancels out a centralized server. These computers do not own blockchain exclusively. Nodes maintaining the blockchain are configured to validate each new record before it is added to the ledger. Hence, blockchain is completely transparent. These characteristics of blockchain have ruled out the need to rely on centralized brokers.
Blockchain advantages for independent artists:
- Blockchain’s StreamSpace has revolutionized the film industry by overtaking the centralized hubs of various streaming platforms that are seen dictating the prices and royalties for content. While the customers of StreamSpace pay for the network’s content with the company’s proprietary cryptocurrency known as the StreamShare token, the payments directly reach the digital wallets of the artists.
- Transparency and the ability for the artists to develop a direct relationship with the consumers are two incomparable benefits of the blockchain. This trend is incentivizing a healthy economy. This also benefits the users not to be trapped by piracy and illegal distribution.
- StreamSpace has also enabled the crowdfunding campaigns on the blockchain. Produces and directors can use this facility to invite the community support their projects.