eMusic claims it will raise $70m for its blockchain plans
Posted on: 1 août 2018, by : Stuart Dredge

We reported earlier this year, somewhat sceptically, on digital-music service eMusic’s plans for a blockchain-powered relaunch. Now the company has given more details about how much money it’s planning to raise to fund its pivot to a ‘decentralised music distribution and royalty management system’.
eMusic says that it’s shooting for $70m in its token sale, which will kick off with a public pre-sale in September, followed by a token generation event (TGE, if you’re keeping track of these acronyms) straight after.
Cue rhetoric: “Today’s supply chain is full of blockers, middlemen and inefficiencies that create barriers for artists’ music to get from the studio to fans’ headphones. eMusic is going to fix this problem using an all-new blockchain platform that provides a more streamlined, transparent and autonomous structure benefiting all parties,” said CEO Tamir Koch.
The post eMusic claims it will raise $70m for its blockchain plans appeared first on Music Ally.
Source: Music ally

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