Music Streaming Platform Feedbands to Begin Paying Artists and Customers in Bitcoin
A streaming service called Feedbands has begun compensating its customers (artists and listeners alike), with Bitcoin. The service, whose major attention is given to artistes independent of major labels, has a “pay-per-stream feature” that lets users earn Bitcoin for streams. Apart from streaming income, users may also earn Bitcoin when they share music from Feedbands.
Specifically, independent artists may earn Bitcoin when users stream their music and also when their fans sign up for their content. On the other hand, for listeners, Bitcoin is earned when they stream music and also when they share music from the Feedbands platform.
Feedbands And The Lightning Network
The firm is interested in improving their operations such that running expenditure is significantly reduced and transactions are much faster. Consequently, a beta test for the Lightning Network (LN) is now underway.
Other Feedbands Endeavours
The firm is primarily a streaming service in the music industry but also prides itself in its climate change endeavors. Currently, the firm has a collaboration with “Trees for the Future” which involves planting one tree for every hundred qualified streams. It is also said that the firm seeks to demonstrate that Bitcoin could be used in a way that is advantageous to the environment regardless of it's very heavy power-intensive Proof of Work (PoW) process.
The Feedbands Twitter account says:
“Our new platform plants 1 “tree” for every 100 qualifies streams. We’ve planted over 2000 trees since rolling it out last week! Let’s keep the music streaming and the trees growing. We got this.”
Feedbands And Dash
Graham Langdon, the CEO of Feedbands, has stated that the first choice of payment for artists and listeners was Dash and not Bitcoin. This is because its transactions are immediate and also because it is currently the third most gainful cryptocurrency of all time.