eMusic Launches its own digital token eMU and builds a sustainable music ecosystem
eMusic was the first company to launch an online store where you could download your favorite music in MP3 format, and from now on it is also the first music service to have its own digital token called eMU.
With this step, eMusic creates a unique sustainable music ecosystem that helps all artists, fans and all stakeholders.
The eMU digital token is already available on the Bibox digital assets exchange where you can purchase it and then use it on the eMusic music platform.
Tamir Koch, President of eMusic said:
“Streaming has dramatically increased revenues and adoption, but the model has proven itself to be fundamentally flawed,”
“Hard-up artists receive a fraction of the royalties, while intermediaries take an ever-growing slice of the pie and leading services remain loss-making. The eMU token is now here to reinvent music distribution. It creates a brand-new commercial model built on fair compensation and transparent flow of funds between fans, artists and music services”.
Thanks to blockchain technology, the eMU digital token is a secure and decentralized digital currency with which you can make payments to artists in a more efficient and transparent way. All of this will help increase the turnover of royalties, and artists will also have a better idea of how their music is sold.