Blockchain music sharing platform Aurovine has launched in聽India with the support of聽blockchain development company BlockPool.
Working with Indian development company Appliconsultants, Aurovine and聽cryptocurrency AudioCoin are set to provide Indian artists and listeners with a more transparent music sharing environment.
AudioCoin is recognised as a highly stable blockchain, and recently passed the 1 million block milestone. It also briefly held the highest trading volume of any altcoin. The price has shown a steady increase in recent weeks moving from around 40 to 150 satoshis.
鈥淲e鈥檙e delighted to be working with Appliconsultants to take our original product to market in India,鈥� said David Blundell, co-founder of BlockPool.
鈥淭he platform has already provided artists in the UK with a fairer and more engaging means of hosting their music, and we鈥檙e excited to see the Indian market鈥檚 response.鈥�
Appliconsultants sees an opportunity in the Indian market to provide artists with greater control of their music careers and an ability to better engage with fans.
Among the features being released will be the ability for fans to use AudioCoins via mobile wallets to both earn coins and also vote for artists in online and offline competitions, set to provide engagement that has never been seen before in the industry.
Artists will also be able to take advantage of smart contracts for聽crowdfunding and viral sharing through Aurovine鈥檚 listen, rate, share feature, providing fans with a true stake in their favourite artists鈥� careers.
Originally launched in 2012 as a music discovery platform built on blockchain technology, Aurovine ensures, artists, writers and anyone involved in the production of a piece of music can share in the revenue.
The blockchain system ensures that every time a track is listened to, all of those involved can be credited in real time.
BlockPool is backed by Kevin Bacon, one of the UK鈥檚 leading authorities on the music industry, who serves as an advisor.
Bacon was formerly an A&R consultant for Island Records, founded AWAL (Artists Without A Label), a digital music platform that offered artist-friendly contracts and worked with artists including David Bowie, the Pretenders, the Sugababes, Lighthouse Family, Ziggy Marley, Longpigs, Plan B and many more.