Bringing the Music Industry Back to its Roots: KICK.IO Hosts the Vilvi IDO
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
If you were around during the days when vinyl albums were the primary way to listen to music, then you’ve surely seen how immensely the music industry has changed. Back in the day, you had to be dedicated to your favorite artists to go out and buy their records. Compare that to today where you can stream music for free.
While this is convenient for the listener, it has made creating music downright unprofitable for many artists due to the tiny payments they get out of streaming services.
Vilvi (Virtually Vinyl) promises to change that and is pioneering the use of NFTs in the music industry, ensuring that artists can get their just due without making music harder to access. Due to the scarcity inherent in NFTs, we can go back to a world where digital items replace the vinyl records of the old days.
By buying one of these NFTs, much like a collectible album sleeve of the past, fans can get a piece of history related to their favorite artists. The best part is that these NFTs can be resold, and every time one of them is resold, the original artist gets a cut of the proceeds, allowing them to essentially make royalties off of the sales.
Since all of the accounting is done on the blockchain, it also means that everything is visible, so artists won’t have to worry about a label not holding up their side of the deal. It also means that releasing physical music isn’t as difficult, which allows more artists to get into vinyl. This also helps artists get their work out in developing countries where streaming may not be as popular.
At KICK.IO, we recently announced that Vilvi will be the next project featured on our launchpad. We couldn’t be more
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