Younk Community Music Label Starts World’s First Hit Funding on Blockchain
Younk Releases First Hit Funded By The Community
August 27th marked an important day in history – the music industry just made an enormous leap after Younk started the world‘s first Hit Funding on Blockchain.
The world witnessed an important corporation between industry experts, community, and musician’s, resulting in the first ever community funded and collectively owned hit.
How Younk Works?
Younk isn’t complicated. The artists get to share their music tracks for free, and the community gets to listen and vote for their favorite track.
The winning track earns an entry level to Hit Funding Stage. From this point, when the track makes it to Soft Cap, then the next level is big-league experts for supplementary production.
Younk’s Legendary Music Industry Expert Co-Founder.
Younk’s co-founder Don Grierson, who’s also a legendary music industry expert, has committed himself to helping artists and the community at large in creating unforgettable music hits. When a track is released, the community gets a fair share of the benefits-royalty share.
Don Grierson has been in the industry long enough and even won a Golden Apple Award from the Beatles. He is also notably famous for signing the world’s renowned soul and classic music artist Celine Dion to her first US recording contract.
Hitmakers To Benefit Immensely Through Community Funding
So how does the musician benefit? Younk creates a great opportunity for musicians to create, share and also get feedback for their amazing music form active listeners.
What’s even more eye catching is, musicians have more chances of earning from their music with Younk in comparison with other music labels globally. Younk, the first decentralized community label, has been created to make music industry accessible to all while also being profitable for both the community and the artist themselves. This label is open to everyone.
So far, Younk has already launched the closed beta-test. All participants in the platform are receiving 1000YNK tokens which are the platforms own currency for supporting the participants.
The platform has invited 1000 participants to test Younk platform as well as discover the first Community Funded Hit as. After the Hit Funding day deadline, August, 29th, the first hitmakers to be supported by the community will proceed on to recording their hit song including a video. This will then be released on more than 150 digital platforms.
Find the preliminary schedule listed below.
- Step 1. Hit Funding – August, 22 – August, 29
- Step 2. Soft Cap – August, 30
- Step 3. Production – August, 30 – September, 30
- Step 4. Fist release and Distribution – October, 1