Blockchain has drawn the attention of the music industry to develop new revenue models and more robust fan interaction. Artists, publishers, agencies, managers, royalty collectors, and distributors make up the industry’s complex value chain. By redefining the rights and royalties process and ensuring that everyone in the music industry’s complex value chain gets paid fairly, blockchain could save the billion-dollar music business. Tunedly, a world-class online recording studio, is launching a new blockchain project called TunedCoin. The project aims to offer TunedCoins and distinctive music NFTs as a reward for music consumers. These rewards can also be used to get access to exclusive events and royalties with their favorite musicians. Tunedly is decentralizing the music industry and lighting the way for independent artists through its commitment to helping songwriters and other music creators get connected with world-class session musicians for professional music production and music publishing.
Through the TunedCoin project, Tunedly aims to enable music consumers to vote once a day for a song they believe should be signed. Listeners get rewarded by earning TunedCoins and NFTs as well as a share of future royalties. Budding artists can get discovered on Tunedly by uploading their music on Tunedly Music Discovery App. After uploading the song, Tunedly will feature music from new artists next to songs from established artists with no branding, so bias is eliminated. After this, music listeners can upvote (give a star to) their favorite songs based only on music without referring to artist names or other identifying information. Top songs get a publishing offer and TunedCoin allocated as a signing bonus. When the company signs a song listeners gave a star to, the listeners get rewarded by earning TunedCoins and NFTs.
TunedCoin (TUC), built on the polygon blockchain, is the utility token for the Tunedly Ecosystem. It hopes to integrate the fundamental features of the blockchain to give its users access to the ecosystem’s unique features. In total, TunedCoins will be limited to a total number of 21,000,000 (21 million). TunedCoin is a versatile token that prioritizes the users of the Tunedly ecosystem. The use cases of TunedCoin will grow as the platform grows with continuous updates and benefits added. The TunedCoin token is scheduled to ICO in Q2 of 2023. Prior to the official ICO, interested parties can acquire TunedCoin by listening to music at the Tunedly Music Discovery app.