Home Coins Ethereum (ETH) Tokenized cassette tape by Grammy winner DJ RAC launches on new Ethereum-based...

Tokenized cassette tape by Grammy winner DJ RAC launches on new Ethereum-based market Zora


A tokenized, limited-edition cassette by Grammy-winning DJ André Allen Anjos – higher identified by his stage identify RAC – has launched on Zora, an Ethereum-based on-line market.

The crew behind Zora first gained traction in late 2019 when it put out Saint Fame, a decentralized autonomous group (DAO) that has created an Ethereum-based trend home. 

The brand new platform goals to assist different creators comply with Saint Fame’s profitable experiment and launch limited-edition merchandise themselves. The pitch, in response to the challenge’s creator Jacob Horne, is to let manufacturers seize their merchandise’ resale worth. 

The platform’s first challenge is the $TAPE token, which represents 100 limited-edition cassette tapes that includes Anjos’ newly launched album, BOY. Tokens will be redeemed for a bodily copy of the tapes.

Much like $Fame, the brand new token is constructed on Uniswap’s protocol. The beginning value of 1 $TAPE token is $28, however the value can theoretically far exceed $2,000 as the overall variety of tokens bought approaches 100. 

Conventionally, creators can solely revenue off of their objects’ preliminary gross sales worth and are not often capable of faucet into the additional income generated from secondary buying and selling. With Zora, nonetheless, merchandise are tokenized and bought on a bonding curve. This manner, creators can reel in extra earnings if their merchandise are in excessive market demand. Zora will cost a 1% buying and selling payment on the patron aspect and preserve as much as 10% of generated revenues. 

Merging blockchain with music

The concept of cryptocurrency remains to be comparatively new within the music trade. However artists like Lupe Fiasco, Gramatik, Pitbull, and Imogen Heap have all begun to discover how blockchain expertise may probably assist musicians launch music extra effectively and create one other supply of earnings. 

Past Zora, quite a lot of different initiatives – together with Ujo Music, Choon, Open Music Initiative, and Musicoin – are additionally working to include blockchain expertise into how music is produced and distributed.  

For Anjos, this collaboration with Zora is just not his first encounter with cryptocurrency. With a long-standing curiosity in laptop science, the Portuguese artist was drawn to the idea of digital shortage as quickly as he first discovered of cryptocurrency in 2016. Working within the leisure trade, Anjos instantly began to discover how he may apply the expertise to his music profession. 

In 2017, simply months after he gained a Grammy for Greatest Remixed Recording, Anjos partnered with ConsenSys-owned startup Ujo Music and put out his album “EGO” on the Ethereum community, the place followers can buy it with ETH. Final yr, he opted to distribute Minerva, a music label launched by him and one other DJ nicknamed Goldroom, by way of the Ethereum community. 

Earlier this yr, Anjos’ crew reached out to Zora to take one other shot at combining music with cryptocurrency. What appealed to him about Zora, he stated, is that followers needn’t know in regards to the technical particulars of how cryptocurrency works so as to benefit from the product. 

“Once we speak about Spotify, we do not speak about what sort of audio compression they use,” he advised The Block. Equally, Zora will summary away many of the cryptocurrency features from customers who may not be significantly tech-savvy.

“You should utilize a bank card [to buy the cassette tape],” he continued. “So it would not have that preliminary barrier of getting MetaMask and getting the ether in your pockets, which was a real bottleneck earlier than.”

Chatting with cryptocurrency’s adoption within the leisure trade, Anjos identified that it’s nonetheless in a “transitional part” the place extra artists are getting within the idea however will not be certain what to do with it.

“However I really feel like when it does swap, it will be fairly fast as a result of the expertise might be abstracted and occurring behind the scenes,” he stated.

© 2020 The Block Crypto, Inc. All Rights Reserved. This text is supplied for informational functions solely. It’s not provided or supposed for use as authorized, tax, funding, monetary, or different recommendation.



Supply hyperlink

- Advertisement -
Mr Bitcointe
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
472FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,553FollowersFollow
2,230SubscribersSubscribe
USD - United States Dollar
EUR
1.20
GBP
1.33
CHF
1.10
NOK
0.11
JPY
0.01
CAD
0.77
AUD
0.74

Most Popular

Why institutions suddenly give a damn about Bitcoin

Without a doubt, Bitcoin (BTC) has become an increasingly popular asset to own among institutional investors. By the end of the second quarter...

[SPONSORED] Velo Protocol powering the world’s premiere Federated Credit Exchange Network

Imagine a network where partners – stemming from legacy finance, CeFi, and DeFi industries – are all created equal. This network has no...

Cardano, Cosmos, Compound Price Analysis: 28 November

Nearly every coin of relevance in the crypto sphere saw a drop in their price that coincided with Bitcoin’s correction from $19,400. Some...
bitcoin
Bitcoin (BTC) $ 17,716.80
ethereum
Ethereum (ETH) $ 541.56
ripple
XRP (XRP) $ 0.629229
tether
Tether (USDT) $ 1.00
bitcoin-cash
Bitcoin Cash (BCH) $ 275.98
bitcoin-cash-sv
Bitcoin SV (BSV) $ 165.72
litecoin
Litecoin (LTC) $ 73.05
eos
EOS (EOS) $ 3.00
binancecoin
Binance Coin (BNB) $ 29.29
okb
OKB (OKB) $ 5.31
tezos
Tezos (XTZ) $ 2.37
leo-token
LEO Token (LEO) $ 1.34
cardano
Cardano (ADA) $ 0.163380
monero
Monero (XMR) $ 121.91
stellar
Stellar (XLM) $ 0.201211
chainlink
Chainlink (LINK) $ 13.19
huobi-token
Huobi Token (HT) $ 4.09
tron
TRON (TRX) $ 0.030452
usd-coin
USD Coin (USDC) $ 0.998826
dash
Dash (DASH) $ 104.37
neo
NEO (NEO) $ 17.76
iota
IOTA (MIOTA) $ 0.346236
nem
NEM (XEM) $ 0.182987
zcash
Zcash (ZEC) $ 74.64
maker
Maker (MKR) $ 528.15
paxos-standard
Paxos Standard (PAX) $ 1.01
ethereum-classic
Ethereum Classic (ETC) $ 6.32
vechain
VeChain (VET) $ 0.015478
true-usd
TrueUSD (TUSD) $ 1.00
ftx-token
FTX Token (FTT) $ 4.15
kucoin-shares
KuCoin Shares (KCS) $ 0.801607
waves
Waves (WAVES) $ 6.67