Tunedly Aims to Destroy Bias in the Music Industry with Crypto Project TunedCoinFeb 20, 2023, 12:44AM
Let’s be real. If you’ve got a list of songs in front of you, you’re going to play one from an artist you’re familiar with.
This creates a bias in the music industry as it makes it even more difficult for new artists to get recognized as no one would even give their music a chance. How do you know you’re going to dislike their music if you don’t even try it?
You’re forcing yourself to be in a bubble of artists you recognize because you believe that you’ll only like their music. With new artists emerging every day, it’s becoming harder and harder for good music to stand out among the crowd. So what’s the solution?
What is Tunedly
Tunedly is a Masked Music Discovery Platform that aims to destroy the bias in the music industry. On this new emerging platform, there is no such thing as likes or views. In fact, you can’t even see who wrote or even sang the song. The whole point of these restrictions is to help people truly value a song because it’s actually good and not because of who is behind it.
Although this concept is new to many, listeners are certainly intrigued. I can’t remember the last time I listened to a song from an unknown artist. Tunedly helped me realize that just because I am not familiar with an artist does not mean that they won’t have a killer of a song. The platform features hundreds of different artists in different genres, curated to your taste.
Tunedly also has a mobile application called Tunedly Music Discovery app where listeners can experience a more user-friendly interface while surfing through the countless songs curated to their taste. The Tunedly algorithm will analyze your song choices to later provide you with a better and more personalized experience by only showing you songs that fit your vibe.
So, what’s in it for the listeners? Besides getting the opportunity to listen to music on the platform for free, listeners can also earn rewards for upvoting songs that end up getting signed by a label. The way this works is that a listener can upvote one song a day on the platform. Top songs get signed by a label on the platform. If a certain song gets signed, everyone who upvoted it will receive an NFT of the song. But that’s not all. The first 1000 listeners who upvoted the song will also receive TunedCoins as a reward. Why is this important?
Blockchain technology has empowered the music industry to develop more ways for both listeners and artists to interact with each other monetarily. Tunedly aims to provide all stakeholders with a fair way to get paid for their services. Holders of TunedCoins have the opportunity to also receive a share of future royalties once the signed song is released. Through this crypto project, budding artists now have a chance to compete with industry professionals.
Royalties are an important part of the blockchain experience provided by Tunedly. This Masked Music Platform ensures that all stakeholders responsible for a song getting signed will have their fair share of the royalties from the song. The higher the number of TunedCoins you own, the more royalties you will earn as a result. While this is a unique concept in the music industry, it does help emerging artists finally get an audience who give their music a chance.
The royalties are split in a way where everyone gets a fair slice of the cake. Let’s say that there are two stakeholders whom each hold 10 TunedCoins. A song with $100 royalties would be split evenly between them, and they would each get $50. However, if one stakeholder earns 5 more TunedCoins and now has a total of 15 TunedCoins, the royalties would no longer be split equally. The $100 royalties would then be split between $60 and $40.
TunedCoin (TUC) is the native cryptocurrency of the Tunedly platform. This utility token was built on the Polygon blockchain. Polygon is a second-layer Ethereum smart chain. The benefit of being built on Polygon is that it allows this token to experience faster transaction speeds at only a fraction of the price as compared to the Ethereum blockchain.
TunedCoins will have a total supply of 21 million tokens. These tokens will be released as ICO in Q2 of 2023 and will be used to grow the platform. At the moment, the only way to earn TunedCoins is by listening to music and upvoting your favorite ones on the platform. However, once the ICO is released, TunedCoins will be more accessible to the general public.
There is no doubt that the music industry has a long road ahead in terms of destroying bias. With dozens of artists emerging every day, it is becoming even more difficult for the right songs to stand out. However, Tunedly is certainly paving the way for budding artists through blockchain technology that ensures that everyone gets a fair share of the rewards.
Disclaimer: information contained herein is provided without considering your personal circumstances, therefore should not be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.