Music is a part of each of our lives. A person listens to hundreds of songs in a daily routine. Music is sometimes considered even as a mood reflector or mood changer. All of the credits for enjoying these audios go to the creator. Choon streaming platform is a place just for these hard workers to earn what they deserve. Blockchain has been well known for eliminating middleman out of any industry it has entered. The company has merged with blockchain for solving the biggest issue of a musician/artist.
Music industry consists of artists, managers, big producers and directors. An artist nowadays stays under the influence of all such levels to have a successful career and fame in this sector. Most of the earning that are made by artist flow down as commissions for managers or lawyers. If they are invited by big companies, the earnings decrease rapidly to almost 80% in no time. These companies manage to even postpone the payments which create nothing but more trouble for an artist. Choon cut offs big companies, managers and all other players from the league and encourages artists to stand independently.
The platform chose ERC-20 as accepted cryptocurrency in the exchange with its NOTES token. One of the most crucial roles in the platform is smart contracts for which ethereum is the best-known network. As the value count is observed, 1 ETH=10,000 NOTES. The company had its pre token sale in January this year where it successfully sold out 75 million tokens in no time. Artists gain 80% of the total NOTES earned during the streaming whereas other 20% is held by the company for operations. A trust-less relationship is offered by Choon which gives freedom to artists from hiring lawyers. For the first ten years, artists have been given a leverage to buy NOTES without paying any commissions.
Not only have the artists, even the listeners been given an opportunity to earn through the platform. Listeners can simply create best of their songs into a playlist and earn a 5% share in the income from the tracks. They can also receive small amounts of NOTES by listening to promoted tracks. If recognized by the artists as their superfine, these listeners can also be tipped. CEO of the company, Gareth Emery is already a world-famous DJ and has spent a decade and a half in this industry. Gareth has already made a stronghold over other platforms including iTunes and Spotify. He attracts more than 1.5 million listeners on Spotify every month and owns 3 #1 albums on iTunes. Choon is covered by press giants including BBC, Coindesk, NME and many more. Choon was announced in November 2017 and has been blooming ever since. The company has come up with huge plans for coming years some of which include launching the mobile application, opening of independent labels, DJ mixes launch and fiat gateway. Choon team has been working hard on taking over traditional music industry where artists are suffering and blockchain is nowhere to be seen. It's only the matter of time before the company takes over the streaming services via blockchain and creates one of the most successful digital payment ecosystems.
