NEW YORK, November 26, 2018
NEW YORK, November 26, 2018 /PRNewswire/ --
The eMU Token Will Enable a Transparent Music Distribution Ecosystem to Give Artists More Control over their Music and Bring them Closer to their Fans
eMusic, a champion of independent artists and labels since 1998, today announced the token sale for its new eMusic Token (eMU) will open to the public today, November 26. Funds from the eMU Token sale will be used for development of the eMusic Blockchain project, the first-of-its-kind music distribution and payments platform that will fairly pay artists in a fully transparent manner and connect them directly to fans for the promotion of music, live events, and merchandising as well as crowdfunding.
eMusic has been a leading provider of independent music for over 20 years, with nearly 50 million customers served and one billion downloads purchased. Continuing to live up to its pioneering legacy, eMusic is the first major music service to fully embrace blockchain as a means of fixing the music industry's broken supply chain.
"As a proven digital music service provider, eMusic understands the problems in today's music industry and has the fundamental experience to provide innovative solutions that create new opportunities and real economic value for fans, artists and music services," said Tamir Koch, CEO of eMusic. "Our blockchain project will allow artists to retain ownership of their music, while also drastically reducing overhead costs required in distributing music and getting royalties for purchases and plays, which means artists will be able to receive faster payments with a better split of profits."
The revolutionary blockchain-based platform will be fueled by the eMU Token, which will benefit both artists and fans. As soon as eMU Tokens are available, music lovers can use them to purchase music from the eMusic retail store and access token features and benefits like exclusive content, special discounts, live events, and musical sneak peeks. Artists can use eMU Tokens to incentivize fans to purchase music and merchandise or reward loyalty and promotion. Fans will also get the rare opportunity to be involved in the music making process by using EMU tokens to crowdfund projects from their favorite artists.
"eMusic's goal is to develop a sustainable music ecosystem that benefits artists, fans and the platforms that serve them, and we believe the eMU Token will drive this new economy," stated Koch. "The eMU Token provides fans access to a catalog of over 26 million of the best independent music tracks at the best prices, while providing more revenue for the artists on the platform."
eMusic will require potential buyers to pass a Know Your Customer (KYC) check and verify residency before purchasing any eMU Tokens. Currently, the tokens are not being offered or sold to U.S. residents.
To learn more about the eMusic Blockchain project and to take part in the eMU Token sale, please visit: token.emusic.com. This notice does not constitute an offer of securities for sale and the tokens have not been registered as securities under the U.S. Securities Act of 1933, as amended, or any state securities laws.
eMusic launched in 1998 as the first legal, digital music store. As the industry pioneer and champion of Independent label content, eMusic amassed millions of users. eMusic relaunched in May 2017 after being acquired by TriPlay, Inc. - evolving from a discount digital music store into a full-featured digital music service. eMusic delivers a comprehensive suite of services for collectors who value ownership and for artists who value the fair distribution of revenue. EMU is a utility token generated by eMusic.com, Switzerland AG.