I found this video extremely inspiring because so many artists see such small amounts of money from the work they’ve created. Cryptocurrency allows for the artist to directly get paid for their work. Some of my concerns with this new start are: without a deal, how could some artists get the funds to start off on their project? I can only think of crowd funding. And how will strictly authors of music be able to fit into this realm?
Nicolas Needham
This video about blockchain & the music industry really highlights some out-of-the-box thinking by this group of engineers and I applaud them for it. So many times, the artists who pour so much time and effort into their art do not get paid a fair amount. In this video, I particularly liked the quote by Jesse Grushak, founder of Ujo: “We’re trying to cut out people that extract more value than they provide.” Personally, I don’t see that as fair that artists will do a large majority of the work to release a polished piece of art to the public and to their fans, and they are not getting fairly compensated. I give big props to this group of individuals for imagining a system where artists can be treated better in the future, and then acting upon it. I’m excited to see the future of blockchain and the music industry.
Blockchain is a very interesting concept and this is actually the first time I heard of it. After reading the article that Nicolas Needham added to the blog, I became aware that this system was very artist-based, and didn’t offer much of anything for consumers. Blockchain will have to be easier for the consumer to use because no matter if you make 40% or 100% of the profit, if there are no customers, there is no profit. As the video played, I couldn’t help but think “what’s the catch” and it wasn’t until they talked about cryptocurrency that I knew the roots of this feeling. I personally have trouble trusting cryptocurrency and I know that many other people do too. I have trouble believing that blockchain will be able to catch enough traction to affect the industry to a significant degree. I wondered if blockchain could occur without the need for cryptocurrency. I don’t know much about the technology or the programming but from what I have read in this article: https://medium.com/coinmonks/what-the-hell-is-blockchain-and-how-does-it-works-simplified-b9372ecc26ef , I don’t see any reason why this can’t be done with real currency. As an artist, it is an attractive concept, but as a consumer, I don’t see much need for it.
Astrid Topletz
This video is very beneficial for music artists who are struggling to earn more money from their works online. This video informs music artists of the opportunity to gain more profit through the use of cryptocurrency. By using cryptocurrency, music artists are able to earn more money directly from their music uploaded online instead of having to forfeit some of the profit to third-party organizations. This helps many artists maintain their career in making music and easily distributing it online. Click the link here to know more about cryptocurrency in the music industry: https://www.dallasnews.com/arts-entertainment/music/2018/07/16/music-business-is-cashing-in-on-cryptocurrency-but-is-it-the-next-revolution/
Kalyn Randolph
This video is a good way for people to understand the blockchain on how to sell your music to fan directly without interference of publishers, distributors, and more. It gives power back to the artist; it helps actually focus on their craft and not whether or not a publisher or a distributor is going to let them sell their music directly. Ultimately, this avoids the need for people like BMI or any other collection society to come and between because if they did the artist would get their money months from when they release it. This company was tired of artist being at the bottom of the chain and wanted more creativity and music, so for this to happen they needed to take control of the money aspect so the artist could thrive.
Here is a link of companies who use the blockchain within music https://builtin.com/blockchain/blockchain-music-Innovation-examples
Ruben Saenz
What an excellent video about Ujo/Blockchain and how they’re changing the way music artist are getting paid in the industry. As we all know being an artist is tough and are considered to be on the bottom of the music industry chain sadly, having to deal with multiple collection societies (that don’t pay you for MONTHS,) multiple publishers, distributors, and other forms of service providers that take their money and pay them in DIMES. Ujo uses a unique form of currency called “Ether” with this the consumer can purchase the album which then gives a quick and easy download in any form format that they want it in. This format allows the artist to get their money DIRECTLY with little to no hassle and without having to deal with collection societies like BMI, ASCAP, or SESAC, Even though this company is still fairly new they have a strong foundation that is gaining traction in the music industry. The future is looking very bright for Ujo and other companies using the blockchain system, I can’t wait to see the future of this development.
This video is beneficial for musicians starting out. The video talks about blockchain and how to avoid the “music industry”. A word I was unfamiliar with is cryptocurrency. I was able to obtain more information about cryptocurrency and I have to say that I do like the overall aspect of it. You can earn money without going to a third party.
Here is a link to know more about cryptocurrency https://blockgeeks.com/guides/what-is-cryptocurrency/
Devin A. Saucedo-Rivera
I prefer watching a person explain their experiences/knowledge so I very much enjoyed this video documentary. As this video mentioned, many artists do not receive such payment in return for the work that they have put out. Personally, They further explain a system where a consumer can directly pay the artist for their work. I actually really like this method and I would not mind paying my favorite artist. However, I am not so sure about the implementation of cryptocurrency as I would much rather prefer a direct payment type where I pay with my debit/credit card.
This video was great! I love that there are people that really care about the integrity of the artist and fight to give creatives all of their accolades and rightfully earned money. I believe sooner or later we will start to see an emergence of self-sufficient artist that can do it all themselves. These apps that help advance the artist past the mediums that usually take and never give back, will soon become the new blue print as we continue to grow in technology.
Here is an article with helpful apps recommend to artist: https://www.richardbyrneproductions.com/blog/11-apps-that-will-help-you-manage-your-career-as-a-musician
Micah Mann
This new technology is so creative and innovative. It’s great that this allows artists to avoid some of the pitfalls many other artists do.
I love the concept behind UJP and how it wants to keep the integrity of the artist where they actually get paid for most of their work. I think this is very beneficial for the artists but I am concerned about the blockchain cryptocurrency system and how consumers will respond. I feel like there can be an easier way but I am not familiar with cryptocurrency and how it works. Why can’t consumers just put in their card information and dip?
I support the mission of Ujo completely. The music industry has taken advantage of artist ignorant to the back end of the industry for a significant amount of its history and as artist become more aware they are questioning the structure of and re imagining a more just system. One interesting aspect i like is that you can licence a song directly from an artist bypassing a publisher while at the same time putting more money in the artist’s pocket. the potential is high for this technology. My concerns are how the volatile nature of cryptocurrencies will be actualized in the market long term.
Oftentimes, the corporations that many artists go through when distributing their music, take so much of what they really earned. To add on to the problem, these artists get paid infrequently, and when they do, it is not as much as what the distributing companies take. This is why UJO was created, to guarantee that artists get more for their creativity and passion by getting paid directly. The way UJO does this is through cryptocurrency, a method of exchange for financial transactions. Though it all sounds good and beneficial to the artist, using the cryptocurrency seems unnecessary to me because how will a fan know if their money is of equal and fair value to cryptocurrency? I just feel that something a little more simple like credit or debit card information would be less work on both sides and reduce confusion and/or hesitation.
This video is about Ujo and blockchain which I personally hadn’t heard of until watching this video. I think that it is a very interesting concept that could potentially be very beneficial for a lot of struggling artists. So many artists don’t get paid a fair amount for work that they spend a lot of time on so it was nice to see so many people trying to find a way to help artists get the credit and substance that they deserve.
The need for such a system for artists is extremely understandable. I find the most important aspect of this system is the transparency within it because it supports the idea of giving power to the artist. It is too often that artists, and their ignorance of the complicated industry, is taken advantage of for the monetization of people such as publishers. Although I think it is an interesting concept that has the artists interest in mind, it makes me wonder how many people are actually willing to go through with the block chain system. I think many people view cryptocurrency as a scary and unfamiliar being, which can deter fans away from artists. It really is amazing to see companies working hard to directly support artists, but I think the company assumes casual listeners of music will be willing to approach cryptocurrency easily. To learn more on cryptocurrencies such as “etherium,” here is a link. https://www.coindesk.com/information/what-is-ether-ethereum-cryptocurrency
Lucas Balboa
What an amazing video to show how much the music industry is actually evolving. When he used the term “inefficient licensing” it spoke volumes because this semester we’ve been learning about licensing and what kind of licenses you need for every little thing. It’s just amazing that this program is just trying to give back to the musician because he’s right when they work endlessly day and night to make something they are so passionate about and only get $0.50 / dollar. Something that is peaking my interest is what about having your music played on public domains? Wouldn’t you still have to get into some sort of contact with a distributor in order to get your royalties or does this new technology already collect them for you?
I couldn’t seem to find any information on Nest HQ and how they collect royalties in a public stance, But here is an article on how money turns into crypto currency https://blockgeeks.com/guides/what-is-cryptocurrency/
Dominique Salinas
Ujo is highly beneficial for musicians, especially those who are starting out in the business and wanting to get their art recognized. I much appreciate how it helps ensure the artist gets paid rather than the publishers getting paid more. It helps artists get the credit they deserve, and I admire how they’re focusing on working with software developers and consumers in order to provide a safe and secure way for artists to get paid. Below is an article I found about another music industry startup that helps artists get paid online. https://www.wired.com/story/the-music-industry-bands-together-to-get-paid-online/
Emilio Acevedo
I found this video very interesting, especially on how developers are finding new ways for artists to receive more money for their works. This video explains how this new internet platform allows selling directly to the consumer, cutting out the middlemen of the equation such as distributors and publishers. Ujo is undoubtedly going to exploit the industry and make way for more independent artists with its smart contracts and payment system.
This video highlights the importance of giving power back to the artists. In the current system, the musicians are not getting paid very well compared to the owners of the record labels. Having a decentralized currency like Ethereum is important because the artist is now able to be paid directly without any middle man. Projects like this one restores power back to the people. Here’s a list of 40 Etherum apps you can use right now —> https://media.consensys.net/40-ethereum-apps-you-can-use-right-now-d643333769f7
Estefania Bermudez
From the artists perspective, this may be a great thing to look forward in terms of the future of music. The simplicity of it I think will bring people to try this, but the problem with streaming services like spotify and pandora is that the consumer has the ability to listen to music for free. This new generation of people have gotten used to the accessibility they have now with such services and not having to pay anything. But then we also have people who pay a subscription to listen to whatever music they would love to listen to. So it could go either way, but I think UJO needs to figure out a way to build subscriptions into their platform or some more easier method to appeal to the general consumer. Because fans will tip/purchase “badges,” but there is a population that just likes to enjoy music in terms of “radio stations.” Spotify has about 111 million people that listen to spotify’s free version and here’s an article that speaks more on the streaming subscriptions, which platform has to most paying consumers. https://www.cnbc.com/2019/04/05/apple-music-has-reportedly-passed-spotify-in-paid-subscribers-in-the-us.html
Gregory Fuentes
This industry is almost all about sacrifice. No one understands this better than the artist whom has traditionally had to deal with receiving less pay in exchange for distribution or third party publishing. Block-chain has truly provided a ray of hope for progressive music distribution, but is it sustainable? This article goes into the situation without all the fluff.
For as long as I can remember my dream has been to spend my life in music, but even as a little kid I knew it wasn’t necessarily a practical means of living. In an industry devoted to music, wouldn’t it make sense that the artist would be the most important? With blockchain, musicians, rather than middle-man companies, are given priority. The goal of blockchain is to give power to the artist, streamlining consumer access to the musician by “trying to cut out the people who extract more than they provide”. Before this video, I hadn’t heard of blockchain so I found an article about other Blockchain Music Companies: https://builtin.com/blockchain/blockchain-music-Innovation-examples
Shawn Horne
Blockchain has potential within the music industry to provide freedom for musicians to release our music directly to the customers without having to use middle men. Does this mean we do not need to protect our music with copyright? No it does not. Blockchain will keep record of the transactions but it will not protect the musician who created the music from having it used without permission. Nothing within blockchain would stop someone from downloading your music and then copyrighting it as their own (if you don’t have a copyright).
To be honest I am not entirely sure if I full understand the idea behind a blockchain, but if it works, then this could be big for artists around the world who are fed up with getting chunks taken out of their paycheck from the bureaucracy of the music industry. It is really interesting how it compares to what Chris Liek talked about when he came to UTSA. Below is an article that connects the UJO technology to cryptocurrency.
What was very interesting about the video provided was the block chain itself and how it correlates to the musician or artist. Essentially, it is a permanent unchangeable and publicly transparent record keeping system which will have all information and exchanges take place. This is a great outlet as it brings more power to the people while maintaining the user unanimity and privacy. In a bigger picture, the artist and the consumer are one, so when an artist wants to sell his or her work to their fans, no third party or other sort of company will interfere as it will go straight to the consumers hands when the artist feels the need to do so. This is a turning point in the music industry as new and upcoming artists who want their work pushed through the fans and nobody else can happily do so.
This Video is very informative and explains how artists and musicians can get their music directly to the audience without losing money to aggregators and publishing companies using blockchain. This method uses cryptocurrency and in a way it bypasses the tedious way of publishing music. This is very useful to upcoming and new artists who receive little to no royalties for their music and it is a way to help them reach their audience and receive the money that they deserve. Overall, it gives more power to the artists themselves. Here is an article that gives a list of blockchain music companies for artists to choose from.
This Video is very interesting and eye opening to artists and musicians and how they can get their music directly to the audience without losing money to aggregators and publishing companies using a system called blockchain. This method uses cryptocurrency and in a way it replaces and makes the previous way of publishing music. This is very useful to upcoming and new artists who receive little to no revenue for their music off of the small royalties that are in place and it is a way to help them reach their audience and receive the money that they’ve already earned. Overall, it gives more power to the artists over their art.
Victoria Gonzalez
A big issue in the music industry is how musicians have a hard time making money on the music they create. It really saddens me because if so many people are enjoying what they put out there, the musician should very well be getting a return on that. The block chain will definitely help this issue. They will not use any third parties. I think this might be something to revolutionize the music industry and give artists what is theirs.
They are brilliant. There are way to many artists and amazing artists at that who do not get paid for what they do. Taking out the middle man in the equation and letting the fans buy the album with the money actually going to the artists is bold and risky but it needed to be done. This gives artists a lot more control over what they get to do and how they do it compared to if you are stuck to a label and have to kinda go in there direction. The article I am attaching is about 17 blockchain companies trying to reshape the music industry. https://builtin.com/blockchain/blockchain-music-Innovation-examples
Sarah Foy
I think it’s completely understandable for artists to want to cut out the middle man and be able to sell to fans directly. The music industry is at a point where artists have to go through so many different people to get their music out that they rarely end up seeing the profit that they deserve. The concept of the blockchain system and using cryptocurrency is really interesting, and I’m curious to see the effect it will have on the music industry in the next few years.
I really enjoyed this video because it showed a way where artist can make a living off of what they love. It talks about music more as a art and not just a business by letting people see that it is still possible to have creative control of the work. Currency allows for a quicker transaction letting artist pass through the publishers, distributors and third parties in order to keep their profits. It is a direct way for artist to connect their music straight to their fans ensuring they get instant profit when a fan interacts with the music. Blockchains main goal is to get rid of the middle men making it a more fair business for artist. Below I have attached an article that goes more into cryptocurrency in the music industry.
I found this article very interesting knowing that they are trying to fix a problem to help artists earn more money. It informs you about how you can buy music directly to the audience without losing so much money. As he states in the video I like when he says that he has worked hard to put in out there and it should be fair to revive the money he deserves. They are trying to get fairness for an artist because he says that they are not getting enough.
I found this article that explains what Blockchain can do for you! https://medium.com/s/welcome-to-blockchain/what-could-blockchain-do-for-music-4f60220e9709
Zach Beesley
I had heard of Blockchain but did not know the workings of it. This video does explain that very well. Also, the article attached below helps to give the basics of how blockchain works. Blockchain can be very useful with the way the money is handled and the direct relationship between the creators and the consumers. With the problems of music being digitally downloaded and no way to know or stop it, blockchain is a good start. However, I do question the security of information. One of the online music platforms PledgeMusic has published a blockchain based ledger and this is most definitely something I want to learn more about.
I’m glad that they are making more options for artists to have more wiggle room for their art. This video wasn’t afraid to come out their comfort zone and be real about how tough it Is to make it in this competitive business.
I Included another helpful video that will break down what a blockchain consist of: https://youtu.be/3xGLc-zz9cA
Bao Luong
In my opinion this is just confusing and more difficult to me. This is like bitcoin in the way because it dealing with different currency and I can already see stock involving with this. Basically to me this is a form of money but not money, I don’t understand what is the different between going with this and a regular way of just money and original route. this is more confusing and hard to understand to me then the old original way. But this is another article about on how it is reshaping and helping the music industry so I guess this is good new thing that is coming into the music industry. I will look more into this because this is definitely a new wave. I hear of this before but I didn’t think it is much of a big deal but it is getting bigger and more known so this is something I have to look out for. https://builtin.com/blockchain/blockchain-music-Innovation-examples
Mariah Almeida
I love how this video shows a company trying to make a change in music distributing to be able to help the artist out more. Usually an artist has to go through a publisher to release their music to their fans and have to give a percentage of the sales to them. With Blockchain, the artist can directly sell their music to the consumer. I am excited to see the future of this and how it may change the way music is distributed in the future. Here is a link that talks more about what cryptography is. https://searchsecurity.techtarget.com/definition/cryptography
This article is extremely helpful in encouraging direct relation between fans and artists through direct licensing, streaming, transactions, etc. The blockchain was described as being a transparent record keeping system. It supports artists receiving the direct pay they earn through direct transactions cutting out the middlemen like BMI from facilitating the change. This advises artists to collect what is theirs, yet it doesn’t explain the different types of BlockChain companies available.
The response by Blockchain to answer the call for a more transparent and direct relationship from artists to consumers is admirable but flawed. From the artist’s end, it is an awesome deal that requires very little footwork in comparison to the current traditional model for licensing and distribution. Adversely, it requires an already significant consumer base to create demand for the product. I feel that the additional caveat of the popular uncertainty of cryptocurrency also deters potential consumers.
In the state of the music industry today, it is hard for musicians to make much of a profit due to the freemium model of streaming that is used. They can’t make much money off streaming and record labels that they are associated with are able to take large portions of their profits as well leaving them with little profit to be proud of in a difficult market. That’s why this video is very interesting and hopeful for musicians who want to make more of what they feel they deserve. It informs of a form of decentralized currency called Ethereum that pays the artist directly with our any middle man. Find out more here about Ethereum: https://media.consensys.net/40-ethereum-apps-you-can-use-right-now-d643333769f7
Latifah Agunbiade
I adore the fact the creator of Ujo wants artist to receive their royalties. The music industry, like many other industries in America, is embedded with corruption. People who are higher up in the production chain make sure they are paid before the artist is. Here is an article that highlights point of corruption within the music industry. https://medium.com/@ayah.2019/corruption-in-the-music-industry-cf7a523b3771
I found this video extremely inspiring because so many artists see such small amounts of money from the work they’ve created. Cryptocurrency allows for the artist to directly get paid for their work. Some of my concerns with this new start are: without a deal, how could some artists get the funds to start off on their project? I can only think of crowd funding. And how will strictly authors of music be able to fit into this realm?
This video about blockchain & the music industry really highlights some out-of-the-box thinking by this group of engineers and I applaud them for it. So many times, the artists who pour so much time and effort into their art do not get paid a fair amount. In this video, I particularly liked the quote by Jesse Grushak, founder of Ujo: “We’re trying to cut out people that extract more value than they provide.” Personally, I don’t see that as fair that artists will do a large majority of the work to release a polished piece of art to the public and to their fans, and they are not getting fairly compensated. I give big props to this group of individuals for imagining a system where artists can be treated better in the future, and then acting upon it. I’m excited to see the future of blockchain and the music industry.
Although the following link is a little old and was written before Ujo started adding more artists to their site and when the site only had an Imogen Heap single available for purchase, it does provide some nice details about the “smart contracts” mentioned in the video, and links to more info about how Ethereum works:
https://medium.com/hatching-amazing/part-1-how-my-ssn-prevented-me-from-buying-music-on-the-blockchain-and-why-blockchain-for-music-a85eaeaca7ad
Blockchain is a very interesting concept and this is actually the first time I heard of it. After reading the article that Nicolas Needham added to the blog, I became aware that this system was very artist-based, and didn’t offer much of anything for consumers. Blockchain will have to be easier for the consumer to use because no matter if you make 40% or 100% of the profit, if there are no customers, there is no profit. As the video played, I couldn’t help but think “what’s the catch” and it wasn’t until they talked about cryptocurrency that I knew the roots of this feeling. I personally have trouble trusting cryptocurrency and I know that many other people do too. I have trouble believing that blockchain will be able to catch enough traction to affect the industry to a significant degree. I wondered if blockchain could occur without the need for cryptocurrency. I don’t know much about the technology or the programming but from what I have read in this article: https://medium.com/coinmonks/what-the-hell-is-blockchain-and-how-does-it-works-simplified-b9372ecc26ef , I don’t see any reason why this can’t be done with real currency. As an artist, it is an attractive concept, but as a consumer, I don’t see much need for it.
This video is very beneficial for music artists who are struggling to earn more money from their works online. This video informs music artists of the opportunity to gain more profit through the use of cryptocurrency. By using cryptocurrency, music artists are able to earn more money directly from their music uploaded online instead of having to forfeit some of the profit to third-party organizations. This helps many artists maintain their career in making music and easily distributing it online. Click the link here to know more about cryptocurrency in the music industry: https://www.dallasnews.com/arts-entertainment/music/2018/07/16/music-business-is-cashing-in-on-cryptocurrency-but-is-it-the-next-revolution/
This video is a good way for people to understand the blockchain on how to sell your music to fan directly without interference of publishers, distributors, and more. It gives power back to the artist; it helps actually focus on their craft and not whether or not a publisher or a distributor is going to let them sell their music directly. Ultimately, this avoids the need for people like BMI or any other collection society to come and between because if they did the artist would get their money months from when they release it. This company was tired of artist being at the bottom of the chain and wanted more creativity and music, so for this to happen they needed to take control of the money aspect so the artist could thrive.
Here is a link of companies who use the blockchain within music
https://builtin.com/blockchain/blockchain-music-Innovation-examples
What an excellent video about Ujo/Blockchain and how they’re changing the way music artist are getting paid in the industry. As we all know being an artist is tough and are considered to be on the bottom of the music industry chain sadly, having to deal with multiple collection societies (that don’t pay you for MONTHS,) multiple publishers, distributors, and other forms of service providers that take their money and pay them in DIMES. Ujo uses a unique form of currency called “Ether” with this the consumer can purchase the album which then gives a quick and easy download in any form format that they want it in. This format allows the artist to get their money DIRECTLY with little to no hassle and without having to deal with collection societies like BMI, ASCAP, or SESAC, Even though this company is still fairly new they have a strong foundation that is gaining traction in the music industry. The future is looking very bright for Ujo and other companies using the blockchain system, I can’t wait to see the future of this development.
Here is a link to the offical Ujo Music website
https://www.ujomusic.com/
Here is a link that gives more information on Ujo
https://johnbartmann.com/blog/ujo-music-blockchain-music-streaming-platform/
This last link is to an article that talks about Blockchain is changing the music industry
https://techcrunch.com/2016/10/08/how-blockchain-can-change-the-music-industry/
This video is beneficial for musicians starting out. The video talks about blockchain and how to avoid the “music industry”. A word I was unfamiliar with is cryptocurrency. I was able to obtain more information about cryptocurrency and I have to say that I do like the overall aspect of it. You can earn money without going to a third party.
Here is a link to know more about cryptocurrency
https://blockgeeks.com/guides/what-is-cryptocurrency/
I prefer watching a person explain their experiences/knowledge so I very much enjoyed this video documentary. As this video mentioned, many artists do not receive such payment in return for the work that they have put out. Personally, They further explain a system where a consumer can directly pay the artist for their work. I actually really like this method and I would not mind paying my favorite artist. However, I am not so sure about the implementation of cryptocurrency as I would much rather prefer a direct payment type where I pay with my debit/credit card.
Here is an article on an actual entertainment group and how they are planning to also implement their own cryptocurrency
https://www.coindesk.com/k-pop-music-giant-is-planning-its-own-cryptocurrency
This video was great! I love that there are people that really care about the integrity of the artist and fight to give creatives all of their accolades and rightfully earned money. I believe sooner or later we will start to see an emergence of self-sufficient artist that can do it all themselves. These apps that help advance the artist past the mediums that usually take and never give back, will soon become the new blue print as we continue to grow in technology.
Here is an article with helpful apps recommend to artist: https://www.richardbyrneproductions.com/blog/11-apps-that-will-help-you-manage-your-career-as-a-musician
This new technology is so creative and innovative. It’s great that this allows artists to avoid some of the pitfalls many other artists do.
Here’s a site with more information about how blockchains work: https://cointelegraph.com/bitcoin-for-beginners/how-blockchain-technology-works-guide-for-beginners
I love the concept behind UJP and how it wants to keep the integrity of the artist where they actually get paid for most of their work. I think this is very beneficial for the artists but I am concerned about the blockchain cryptocurrency system and how consumers will respond. I feel like there can be an easier way but I am not familiar with cryptocurrency and how it works. Why can’t consumers just put in their card information and dip?
Here’s an article explaining what blockchain is and how cryptocurrency works. https://medium.com/@daveptn/what-is-a-blockchain-what-is-a-cryptocurrency-explanation-for-beginners-1ebac0023984
*UJO
I support the mission of Ujo completely. The music industry has taken advantage of artist ignorant to the back end of the industry for a significant amount of its history and as artist become more aware they are questioning the structure of and re imagining a more just system. One interesting aspect i like is that you can licence a song directly from an artist bypassing a publisher while at the same time putting more money in the artist’s pocket. the potential is high for this technology. My concerns are how the volatile nature of cryptocurrencies will be actualized in the market long term.
this article looks at block-chain technology and music in a more critical light –> https://hackernoon.com/why-blockchain-might-not-be-the-perfect-technology-for-the-music-industry-936db6aa2b35
Oftentimes, the corporations that many artists go through when distributing their music, take so much of what they really earned. To add on to the problem, these artists get paid infrequently, and when they do, it is not as much as what the distributing companies take. This is why UJO was created, to guarantee that artists get more for their creativity and passion by getting paid directly. The way UJO does this is through cryptocurrency, a method of exchange for financial transactions. Though it all sounds good and beneficial to the artist, using the cryptocurrency seems unnecessary to me because how will a fan know if their money is of equal and fair value to cryptocurrency? I just feel that something a little more simple like credit or debit card information would be less work on both sides and reduce confusion and/or hesitation.
Here is an article that explains why cryptocurrency is the best option for some companies.
https://www.converge.today/coinverge/paying-for-goods-and-services-cryptocurrencies-vs-credit-cards
This video is about Ujo and blockchain which I personally hadn’t heard of until watching this video. I think that it is a very interesting concept that could potentially be very beneficial for a lot of struggling artists. So many artists don’t get paid a fair amount for work that they spend a lot of time on so it was nice to see so many people trying to find a way to help artists get the credit and substance that they deserve.
Here’s an article that gives a step-by-step guide to blockchain:
https://blockgeeks.com/guides/what-is-blockchain-technology/
The need for such a system for artists is extremely understandable. I find the most important aspect of this system is the transparency within it because it supports the idea of giving power to the artist. It is too often that artists, and their ignorance of the complicated industry, is taken advantage of for the monetization of people such as publishers. Although I think it is an interesting concept that has the artists interest in mind, it makes me wonder how many people are actually willing to go through with the block chain system. I think many people view cryptocurrency as a scary and unfamiliar being, which can deter fans away from artists. It really is amazing to see companies working hard to directly support artists, but I think the company assumes casual listeners of music will be willing to approach cryptocurrency easily. To learn more on cryptocurrencies such as “etherium,” here is a link. https://www.coindesk.com/information/what-is-ether-ethereum-cryptocurrency
What an amazing video to show how much the music industry is actually evolving. When he used the term “inefficient licensing” it spoke volumes because this semester we’ve been learning about licensing and what kind of licenses you need for every little thing. It’s just amazing that this program is just trying to give back to the musician because he’s right when they work endlessly day and night to make something they are so passionate about and only get $0.50 / dollar. Something that is peaking my interest is what about having your music played on public domains? Wouldn’t you still have to get into some sort of contact with a distributor in order to get your royalties or does this new technology already collect them for you?
I couldn’t seem to find any information on Nest HQ and how they collect royalties in a public stance, But here is an article on how money turns into crypto currency
https://blockgeeks.com/guides/what-is-cryptocurrency/
Ujo is highly beneficial for musicians, especially those who are starting out in the business and wanting to get their art recognized. I much appreciate how it helps ensure the artist gets paid rather than the publishers getting paid more. It helps artists get the credit they deserve, and I admire how they’re focusing on working with software developers and consumers in order to provide a safe and secure way for artists to get paid. Below is an article I found about another music industry startup that helps artists get paid online.
https://www.wired.com/story/the-music-industry-bands-together-to-get-paid-online/
I found this video very interesting, especially on how developers are finding new ways for artists to receive more money for their works. This video explains how this new internet platform allows selling directly to the consumer, cutting out the middlemen of the equation such as distributors and publishers. Ujo is undoubtedly going to exploit the industry and make way for more independent artists with its smart contracts and payment system.
Here’s an article that goes more in-depth on the concept.
https://media.consensys.net/consensys-ujo-and-capitol-records-bring-blockchain-innovation-to-music-319f2c649790
This video highlights the importance of giving power back to the artists. In the current system, the musicians are not getting paid very well compared to the owners of the record labels. Having a decentralized currency like Ethereum is important because the artist is now able to be paid directly without any middle man. Projects like this one restores power back to the people. Here’s a list of 40 Etherum apps you can use right now —> https://media.consensys.net/40-ethereum-apps-you-can-use-right-now-d643333769f7
From the artists perspective, this may be a great thing to look forward in terms of the future of music. The simplicity of it I think will bring people to try this, but the problem with streaming services like spotify and pandora is that the consumer has the ability to listen to music for free. This new generation of people have gotten used to the accessibility they have now with such services and not having to pay anything. But then we also have people who pay a subscription to listen to whatever music they would love to listen to. So it could go either way, but I think UJO needs to figure out a way to build subscriptions into their platform or some more easier method to appeal to the general consumer. Because fans will tip/purchase “badges,” but there is a population that just likes to enjoy music in terms of “radio stations.” Spotify has about 111 million people that listen to spotify’s free version and here’s an article that speaks more on the streaming subscriptions, which platform has to most paying consumers. https://www.cnbc.com/2019/04/05/apple-music-has-reportedly-passed-spotify-in-paid-subscribers-in-the-us.html
This industry is almost all about sacrifice. No one understands this better than the artist whom has traditionally had to deal with receiving less pay in exchange for distribution or third party publishing. Block-chain has truly provided a ray of hope for progressive music distribution, but is it sustainable? This article goes into the situation without all the fluff.
https://rubygarage.org/blog/blockchain-in-music-industry
For as long as I can remember my dream has been to spend my life in music, but even as a little kid I knew it wasn’t necessarily a practical means of living. In an industry devoted to music, wouldn’t it make sense that the artist would be the most important? With blockchain, musicians, rather than middle-man companies, are given priority. The goal of blockchain is to give power to the artist, streamlining consumer access to the musician by “trying to cut out the people who extract more than they provide”. Before this video, I hadn’t heard of blockchain so I found an article about other Blockchain Music Companies: https://builtin.com/blockchain/blockchain-music-Innovation-examples
Blockchain has potential within the music industry to provide freedom for musicians to release our music directly to the customers without having to use middle men. Does this mean we do not need to protect our music with copyright? No it does not. Blockchain will keep record of the transactions but it will not protect the musician who created the music from having it used without permission. Nothing within blockchain would stop someone from downloading your music and then copyrighting it as their own (if you don’t have a copyright).
https://www.hypebot.com/hypebot/2017/08/why-you-cant-put-the-music-industry-on-a-blockchain-excerpt.html
To be honest I am not entirely sure if I full understand the idea behind a blockchain, but if it works, then this could be big for artists around the world who are fed up with getting chunks taken out of their paycheck from the bureaucracy of the music industry. It is really interesting how it compares to what Chris Liek talked about when he came to UTSA. Below is an article that connects the UJO technology to cryptocurrency.
https://blockonomi.com/stream-music-get-crypto-ujo/
What was very interesting about the video provided was the block chain itself and how it correlates to the musician or artist. Essentially, it is a permanent unchangeable and publicly transparent record keeping system which will have all information and exchanges take place. This is a great outlet as it brings more power to the people while maintaining the user unanimity and privacy. In a bigger picture, the artist and the consumer are one, so when an artist wants to sell his or her work to their fans, no third party or other sort of company will interfere as it will go straight to the consumers hands when the artist feels the need to do so. This is a turning point in the music industry as new and upcoming artists who want their work pushed through the fans and nobody else can happily do so.
Here is an article on more information regarding Block Chain and how it will take over the music industry.
https://www.entrepreneur.com/article/328895
This Video is very informative and explains how artists and musicians can get their music directly to the audience without losing money to aggregators and publishing companies using blockchain. This method uses cryptocurrency and in a way it bypasses the tedious way of publishing music. This is very useful to upcoming and new artists who receive little to no royalties for their music and it is a way to help them reach their audience and receive the money that they deserve. Overall, it gives more power to the artists themselves. Here is an article that gives a list of blockchain music companies for artists to choose from.
https://builtin.com/blockchain/blockchain-music-Innovation-examples
This Video is very interesting and eye opening to artists and musicians and how they can get their music directly to the audience without losing money to aggregators and publishing companies using a system called blockchain. This method uses cryptocurrency and in a way it replaces and makes the previous way of publishing music. This is very useful to upcoming and new artists who receive little to no revenue for their music off of the small royalties that are in place and it is a way to help them reach their audience and receive the money that they’ve already earned. Overall, it gives more power to the artists over their art.
A big issue in the music industry is how musicians have a hard time making money on the music they create. It really saddens me because if so many people are enjoying what they put out there, the musician should very well be getting a return on that. The block chain will definitely help this issue. They will not use any third parties. I think this might be something to revolutionize the music industry and give artists what is theirs.
Here is more information on Ujo and the block chain: https://www.ujomusic.com
They are brilliant. There are way to many artists and amazing artists at that who do not get paid for what they do. Taking out the middle man in the equation and letting the fans buy the album with the money actually going to the artists is bold and risky but it needed to be done. This gives artists a lot more control over what they get to do and how they do it compared to if you are stuck to a label and have to kinda go in there direction. The article I am attaching is about 17 blockchain companies trying to reshape the music industry. https://builtin.com/blockchain/blockchain-music-Innovation-examples
I think it’s completely understandable for artists to want to cut out the middle man and be able to sell to fans directly. The music industry is at a point where artists have to go through so many different people to get their music out that they rarely end up seeing the profit that they deserve. The concept of the blockchain system and using cryptocurrency is really interesting, and I’m curious to see the effect it will have on the music industry in the next few years.
Here is an article that has more information about blockchain:
https://medium.com/s/welcome-to-blockchain/what-could-blockchain-do-for-music-4f60220e9709
I really enjoyed this video because it showed a way where artist can make a living off of what they love. It talks about music more as a art and not just a business by letting people see that it is still possible to have creative control of the work. Currency allows for a quicker transaction letting artist pass through the publishers, distributors and third parties in order to keep their profits. It is a direct way for artist to connect their music straight to their fans ensuring they get instant profit when a fan interacts with the music. Blockchains main goal is to get rid of the middle men making it a more fair business for artist. Below I have attached an article that goes more into cryptocurrency in the music industry.
https://ontheaside.com/culture/how-cryptocurrency-is-changing-the-music-industry/
I found this article very interesting knowing that they are trying to fix a problem to help artists earn more money. It informs you about how you can buy music directly to the audience without losing so much money. As he states in the video I like when he says that he has worked hard to put in out there and it should be fair to revive the money he deserves. They are trying to get fairness for an artist because he says that they are not getting enough.
I found this article that explains what Blockchain can do for you!
https://medium.com/s/welcome-to-blockchain/what-could-blockchain-do-for-music-4f60220e9709
I had heard of Blockchain but did not know the workings of it. This video does explain that very well. Also, the article attached below helps to give the basics of how blockchain works. Blockchain can be very useful with the way the money is handled and the direct relationship between the creators and the consumers. With the problems of music being digitally downloaded and no way to know or stop it, blockchain is a good start. However, I do question the security of information. One of the online music platforms PledgeMusic has published a blockchain based ledger and this is most definitely something I want to learn more about.
https://techcrunch.com/2016/10/08/how-blockchain-can-change-the-music-industry/
I’m glad that they are making more options for artists to have more wiggle room for their art. This video wasn’t afraid to come out their comfort zone and be real about how tough it Is to make it in this competitive business.
I Included another helpful video that will break down what a blockchain consist of: https://youtu.be/3xGLc-zz9cA
In my opinion this is just confusing and more difficult to me. This is like bitcoin in the way because it dealing with different currency and I can already see stock involving with this. Basically to me this is a form of money but not money, I don’t understand what is the different between going with this and a regular way of just money and original route. this is more confusing and hard to understand to me then the old original way. But this is another article about on how it is reshaping and helping the music industry so I guess this is good new thing that is coming into the music industry. I will look more into this because this is definitely a new wave. I hear of this before but I didn’t think it is much of a big deal but it is getting bigger and more known so this is something I have to look out for.
https://builtin.com/blockchain/blockchain-music-Innovation-examples
I love how this video shows a company trying to make a change in music distributing to be able to help the artist out more. Usually an artist has to go through a publisher to release their music to their fans and have to give a percentage of the sales to them. With Blockchain, the artist can directly sell their music to the consumer. I am excited to see the future of this and how it may change the way music is distributed in the future. Here is a link that talks more about what cryptography is. https://searchsecurity.techtarget.com/definition/cryptography
This article is extremely helpful in encouraging direct relation between fans and artists through direct licensing, streaming, transactions, etc. The blockchain was described as being a transparent record keeping system. It supports artists receiving the direct pay they earn through direct transactions cutting out the middlemen like BMI from facilitating the change. This advises artists to collect what is theirs, yet it doesn’t explain the different types of BlockChain companies available.
The link below lists all the different music industry companies and explains what they do.
https://builtin.com/blockchain/blockchain-music-Innovation-examples
The response by Blockchain to answer the call for a more transparent and direct relationship from artists to consumers is admirable but flawed. From the artist’s end, it is an awesome deal that requires very little footwork in comparison to the current traditional model for licensing and distribution. Adversely, it requires an already significant consumer base to create demand for the product. I feel that the additional caveat of the popular uncertainty of cryptocurrency also deters potential consumers.
I’m still a bit confused on the concepty of crypto, but here were some links that explained it in more plain terms.
https://www.discover.com/credit-cards/resources/what-is-cryptocurrency/
https://www.consumer.ftc.gov/articles/what-know-about-cryptocurrency
In the state of the music industry today, it is hard for musicians to make much of a profit due to the freemium model of streaming that is used. They can’t make much money off streaming and record labels that they are associated with are able to take large portions of their profits as well leaving them with little profit to be proud of in a difficult market. That’s why this video is very interesting and hopeful for musicians who want to make more of what they feel they deserve. It informs of a form of decentralized currency called Ethereum that pays the artist directly with our any middle man. Find out more here about Ethereum:
https://media.consensys.net/40-ethereum-apps-you-can-use-right-now-d643333769f7
I adore the fact the creator of Ujo wants artist to receive their royalties. The music industry, like many other industries in America, is embedded with corruption. People who are higher up in the production chain make sure they are paid before the artist is. Here is an article that highlights point of corruption within the music industry.
https://medium.com/@ayah.2019/corruption-in-the-music-industry-cf7a523b3771