British blockchain music startup BlockPool is the company behind music-discovery service Aurovine, which has ben going since 2012.
It was one of the first digital music services to tap into blockchain technology, and now it’s launching a new way to reward fans for their actions on the platform, working with rock band Superfecta.
The new feature is called ‘Listen, Rate, Share’, and involves rewarding fans with the cryptocurrency AudioCoins when they rate and share an artist’s work – with the same cryptocurrency used to pay artists when their music is listened to on Aurovine.
“By developing Aurovine into a full service music discovery, sharing and monetisation platform, enabled by the blockchain, we hope to improve experiences for both artists and listeners,” said co-founder David Blundell. “We will also be extending the system to provide automated self hosted smart contracts later this year.”
The news comes as BlockPool is raising money to continue its development, again using cryptocurrency. So far its ‘token exchange campaign’ has raised the equivalent of $183.4k.