Blockchain streaming platform ‘Choon’ announces next phase
Choon is a music streaming service for independent musicians and digital payments ecosystem powered by the Ethereum blockchain. It is designed to solve some of the music industry’s most fundamental problems, such as getting more money to the artists, faster payments, and a fully transparent royalty accounting system. Three things that most likely will never never be fixed or addressed in the traditional world of music streaming, owned by multi-billion dollar corporations and major record labels.
One of the core goals of Choon is removing the middle man that often, sits on artist’s earnings and at times, complicates and delay, and not uncommonly, leaving out the revenue generated. On the Choon platform, royalty payments are sent out daily, and they are paid with full transparency. In addition, they compensate artist’s streams and monetized playlists in their Notes token.
For those of you that are new to Choon, please check out this animated video explainers here below.
Choon is currently paying 13X more per stream than Spotify. That is being paid daily and in full transparency. Since May 1st, 2018, Choon has grown to over 12,000 artists uploading over 45,000 original songs, and 22,000 registered users with over 5,000 monetized playlists, where the playlist curator also earns the Notes token – check out Data Transmission on Choon.
They’ve announced their next steps by Bjorn Niclas saying:
“Choon is moving quickly and decisively to disrupt the world of music streaming and genuinely support the artists by making sure they get fairly compensated for their work.
First of all, I’ve taken over the role of the CEO and will actively be steering the ship forward with our new management team. Going forward, we will continue to stay true to the mission and community that have defined Choon from the beginning, all the while executing growth strategies that deliver achievable results.
Second, to achieve the new milestones, we’ve secured investments from a group of private investors. This new investment will keep us developing new features, partnerships, and marketing for significant time going forward.
Fourth, Elio David Di lorio will join us as a special strategic advisor. Elio is a true pioneer in the blockchain space, being the co-founder of the first music blockchain project, Musicoin, and then later on with Musiconomi.
It is important for the Choon community to know going forward that the values of the newly re-Choon’d company are built on accountability, transparency, and integrity. It’s no secret that Choon was launched at the worst possible time, right at the beginning of the 2018 crypto market crash. Securing the additional funding needed to take Choon to the next level did prove challenging. The tight money measures required for survival sadly caused the company to miss many of its product roadmap releases and partnership milestones. For this, we genuinely apologize.
As you may have seen, the crypto market is roaring back with many exciting new projects such as Facebook’s Libra coin and BAKKT, as well as Bitcoin and Ethereum reaching new heights.
With our newly re-Choon’d company and investments in scaling the platform with new features, products, and marketing, we are more confident now than ever that we have a substantial opportunity of disrupting the world of music streaming for independent artists. All while engaging fans and listeners within the Choon platform with opportunities to listen to music for free, curate monetized playlists, and much more to come.
Thanks for reading this lengthy but long overdue update. We’re all super excited for the future and for the things we have in store for Choon 2.0, 3.0, 4.0 and beyond. We can’t wait to impress you all!
Check out https://choon.co