If you happen to see what Choon is defined on the Urban Dictionary, the top definition would be – ‘A song or any piece of music to which an individual assigns the highest level of merit but, most usually an exclaimation upon hearing the song in public.’ When you scroll through all the other meanings you will notice that most meanings link with the words ‘music’ and ‘tunes’.
Choon is definitely an expression of its urban meaning. It has not only disrupted the music streaming industry with it’s monetized playlists; but, it also observed a 6x growth within a week of this massive announcement. Let’s take a quick peek on how listeners and artists are reacting to this game changing opportunity.
Users in all, be it an artist or listener are confident, that Choon is here to stay. Most users have received higher streams on Choon, which is way higher in comparison to platforms like Spotify. The appreciation for the incentive, for both artists and listeners, is being appreciated highly. Choon also seems to have added a new drive to independent music artists, to get out there, with their creations. We definitely agree with the one reviewer who says – ‘The Future is here. I am glad to be a part of it.’ Well Schwarzenegger Mafarachisi, we too are glad to have witnessed an amazing amalgamation between music streaming and cryptocurrency.
With the launch of Choon, Gareth Emery, the co-founder of Choon aims to use blockchain to revolutionize the music industry by giving artists a better deal than they have received in the past. In an AMA, held 3 days ago, Gareth explains that ‘Blockchain isn’t deployed for the use of a consensus model, but as the best way to create a distinct payment token which can be used to power a thriving ecosystem where value is transferred around the stakeholders, both artists and listeners, and to substantially incentivize adopters.’
This strengthens the message that Choon, is trying to build an ideal world scenario where royalties are handled in a two – way payment flow, between an artist and listener. Gareth has always been honest with the users of Choon and he ended his AMA by saying ‘PS: No marketing firms were involved in any of the writing of our white paper, I wrote 50% of it, with the rest written by my various co-founders.’ This definitely tells us that Gareth and Choon have their users’ best interests at heart.
Choon is already the largest music streaming platform on the blockchain network. According to the digital journal, artists can now earn up to $ 1.63 dollars per stream, which is massive in comparison to any other streaming platforms. The platform has received an overwhelming response in the two months of it’s being.
As a side note, we can’t wait to chat with Gareth in person to get a peek on what is coming up. What would you ask him if you had the chance? Don’t forget to tell us below!
Latest posts by Paridhi Bhatiya (see all)
- The most interesting Amsterdam Dance Event 2018 facts - October 24, 2018
- Spotify turns 10, here’s how it has impacted the music industry! - October 20, 2018
- Facebook launches its smart speaker, partners with Spotify, Pandora and iHeartRadio - October 20, 2018