- Ripple’s Craig DeWitt has launched the xSongs platform where users pay with Ripple (XRP) and artists get 100% of revenue
Ripple’s Director of Product, Craig DeWitt, has launched a new music sharing platform called xSongs. Users of the platform can instantly buy music via Ripple (XRP), which is the #3 cryptocurrency in terms of market cap. Also, users can pay with Ethereum via Payburner, which instantly converts Ethereum to Ripple (XRP).
The most unique aspect of xSongs is that artists get 100% of the Ripple (XRP) that customers pay. There are zero fees to use the platform, and DeWitt plans on never monetizing the platform.
Essentially, xSongs is a cryptocurrency-based platform that solves the longstanding problem of artists being underpaid for their music due to distribution fees. In other words, xSongs completely removes the middleman via cryptocurrency.
If xSongs is successful, perhaps it could set a global precedent for platforms that allow artists to receive 100% of their revenues via cryptocurrency payments. It would be straightforward to create a platform like xSongs that integrates Bitcoin and all of the other major cryptocurrencies.
Image Courtesy: Pixabay