Guns N’ Roses musician is behind a ‘next generation’ blockchain music sharing platform that intends take on Spotify
he world of heavy rock is getting on the blockchain as Matt Sorum, the former drummer of Californian band Guns N’ Roses, announces he is behind the launch of a live performance and payment platform called Artbit.
The platform will use Hashgraph, a public “next generation” blockchain ledger platform, and aims to allow consumers to pay artists directly via a crypto-currency wallet without any intermediaries taking fees.
“My interest is in cutting the middleman,” Sorum told Yahoo Finance. “As we all know, with platforms like Spotify, only a very small percentage of artists can even make money on that… Any new or young artist has really got to work really hard to even get on the front page of a platform like Spotify – and even at that point you can’t really monetize your art.
Source/More: Crypto, the new rock and roll | Asia Times