Editors Note: Xnova is a core developer on the Counterparty/XCP ProjectA few
weeks ago the crypto community had its first two artist coins launch:
TatianaCoin and NicePlum. Both were launched as tokens on the Counterparty
decentralized exchange. Coin-based crowdfunding enables fans and supporters to
support the efforts of musical artists and other creative types, enabling a
token-based economy within the artist’s fan base where the coin token can become
a two-way “language of value” between an artist and his or her fans. This
provides additional avenues for promotion, residual fund-raising, community
building, incentivization and mobilization, and more. Now contrast this with the
current system, where newer, talented artists face a myriad of issues
around obtaining industry funding, while the more established signed
artists can see their creative flow and relationship with fans negatively
influenced by the labels, bureaucracies and management structure erected around
them. These artists have their brands managed by a cadre of business types
intent on maximizing profit and predictability over all else, and all but the
most successful artists see very, very little retained earnings from their
efforts. With the rise of Internet-based innovations such as self-publishing
(Lulu, Youtube), collaborative music platforms (Soundcloud), online markets for
arts and crafts (etsy), and social media platforms, musicians, writers,
sculptors and other creative types are able to do so much more than before.
However, the last step -- securing funding -- has remained elusive and kept many
of them either unable to pursue their dreams, or beholden to industry interests,
until now. Beyond the obvious initial benefits that “coinified” fundraising
brings, many of the exact use cases are novel, disruptive, and only just now
starting to emerge. It’s fascinating to see this kind of rapid, technology-
enabled economic and social evolution play itself out in real-time. With
Counterparty, we created an open and free platform of decentralized financial
tools, built on Bitcoin. We had a number of ideas that we generalized out and
built into the protocol. But we also knew that the best ideas were the ones that
we never could have imagined. This is “Bitcoin 2.0” in a nutshell: utilizing and
extending blockchain-based technology to disrupt and improve lumbering,
inefficient fields such as finance, law, accounting, insurance, and more, for
the ultimate benefit of society at large. As decentralization permeates these
fields, it creates a better future for all of us: one with less top down control
that seeks to suppress innovation, one where graft, risk and waste are
minimized, and individual and community values can more fully permeate that last
bastion of resistance: the currently murky and controlled concept of money
itself. And this is why achieving a successful result from these first two
efforts is a big deal. Along with these brave innovators willing to try
something new and radically different, we’d like to send a message to the world
that Bitcoin and it’s ilk are about much more than they currently seem. We also
want to challenge these massive, complacent industries that have done the same
old thing for way too long. Even if you have never heard of these artists, I’d
like to encourage you to check out their music and consider donating, as an
early token of support to the immense potential and future of cryptocurrency.
This is only the beginning. To contribute to TatianaCoin, see her website and
the Coinpowers campaign. To contribute to NicePlum, see this thread. To learn
more about Counterparty, see our homepage and our Bitcointalk thread, or email
us.
weeks ago the crypto community had its first two artist coins launch:
TatianaCoin and NicePlum. Both were launched as tokens on the Counterparty
decentralized exchange. Coin-based crowdfunding enables fans and supporters to
support the efforts of musical artists and other creative types, enabling a
token-based economy within the artist’s fan base where the coin token can become
a two-way “language of value” between an artist and his or her fans. This
provides additional avenues for promotion, residual fund-raising, community
building, incentivization and mobilization, and more. Now contrast this with the
current system, where newer, talented artists face a myriad of issues
around obtaining industry funding, while the more established signed
artists can see their creative flow and relationship with fans negatively
influenced by the labels, bureaucracies and management structure erected around
them. These artists have their brands managed by a cadre of business types
intent on maximizing profit and predictability over all else, and all but the
most successful artists see very, very little retained earnings from their
efforts. With the rise of Internet-based innovations such as self-publishing
(Lulu, Youtube), collaborative music platforms (Soundcloud), online markets for
arts and crafts (etsy), and social media platforms, musicians, writers,
sculptors and other creative types are able to do so much more than before.
However, the last step -- securing funding -- has remained elusive and kept many
of them either unable to pursue their dreams, or beholden to industry interests,
until now. Beyond the obvious initial benefits that “coinified” fundraising
brings, many of the exact use cases are novel, disruptive, and only just now
starting to emerge. It’s fascinating to see this kind of rapid, technology-
enabled economic and social evolution play itself out in real-time. With
Counterparty, we created an open and free platform of decentralized financial
tools, built on Bitcoin. We had a number of ideas that we generalized out and
built into the protocol. But we also knew that the best ideas were the ones that
we never could have imagined. This is “Bitcoin 2.0” in a nutshell: utilizing and
extending blockchain-based technology to disrupt and improve lumbering,
inefficient fields such as finance, law, accounting, insurance, and more, for
the ultimate benefit of society at large. As decentralization permeates these
fields, it creates a better future for all of us: one with less top down control
that seeks to suppress innovation, one where graft, risk and waste are
minimized, and individual and community values can more fully permeate that last
bastion of resistance: the currently murky and controlled concept of money
itself. And this is why achieving a successful result from these first two
efforts is a big deal. Along with these brave innovators willing to try
something new and radically different, we’d like to send a message to the world
that Bitcoin and it’s ilk are about much more than they currently seem. We also
want to challenge these massive, complacent industries that have done the same
old thing for way too long. Even if you have never heard of these artists, I’d
like to encourage you to check out their music and consider donating, as an
early token of support to the immense potential and future of cryptocurrency.
This is only the beginning. To contribute to TatianaCoin, see her website and
the Coinpowers campaign. To contribute to NicePlum, see this thread. To learn
more about Counterparty, see our homepage and our Bitcointalk thread, or email
us.
