Popular Music Service ‘Music Messenger’ is Building a Blockchain-Based Spotify Competitor with its Own Cryptocurrency Token
The popular tune-trading app Music Messenger is expanding into blockchain technology.
Billed as the “world’s music messaging service”, Music Messenger allows users to listen to music and share it with friends. While this idea sounds like Spotify or any other music streaming platform, Music Messenger is free. The app targets users in third-world countries who cannot afford popular streaming services. It works by streaming YouTube clips through the application–ensuring labels and rights protectors can’t go after them.
According to the Music Messenger website,
“Since our launch, many labels, rights protectors have contacted us or complained to us about our content source. Many have used threats and intimidation tactics, but we are still here. Why? Because Music Messenger is a completely legal operator, we are not even the content source or stream, YouTube is. Music Messenger is a music messaging tool built around the YouTube API, all content streamed on Music Messenger is directly streamed from YouTube, with even the video at display. Music Messenger is after all a mask on the YouTube API, we love it and it makes our YouTube experience a lot more simpler and more enjoyable.”
Suggested Reading : Learn more about blockchain technology in our beginner’s guide.
Music Messenger’s Answer to Music Rights
Now, the developers behind Music Messenger are building a blockchain-based Spotify competitor. Under the proposed system, users will buy Music Messenger Tokens (MMT) or receive them in return for listening to ads. Users will then pay a “fraction of a cent per song to stream from decentralized storage across the network.” Of those fractional payments, 90 percent will go directly to the artist—combating the 50 percent split offered by traditional streaming services. The remaining 10 percent will go “to compensating whomever is hosting or streaming that audio track or file.”
This idea is similar to old torrenting software like Limewire. Only this time, both the artists and the hosts will receive payment rather than users illegally downloading music.
About Music Messenger
Music Messenger was launched in 2014 by a group in Israel. Since then, the app has raised $25 million from artists such as will.i.am, David Guetta, and the late Avicii. The blockchain-based streaming service will have an open-source beta launch early next year. This new addition already has some investment money as well. Chiefly, Co-founder and Partner of PIR Equities O.D. Kobo has taken great interest in the idea.
“It’s been a long and difficult journey, we’re excited for the integration process, learning new things and the release.” – O.D. Kobo
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