There are many streaming music services, including Spotify, Apple, Amazon, and Google. Starting up in the streaming space will find few customers who haven’t already selected their streaming platform. Plus, it would be next to impossible to compete with these entrenched multi-billion-dollar behemoths in terms of customer value.
It is a loss-leader of Amazon and Google to keep users within their bundled ecosystems – “Listen to Amazon music so you will pay attention to what we have to offer.” Apple and Spotify both offer unlimited downloads and playback for $14.99 a month.
In other words, streaming start-ups entering the music market can’t compete head-to-head with unlimited play for less than a cup of coffee.
It would be fantastic to not only enter the streaming music space but to completely overturn it. Using new technology – bigger hard drives to hold songs and faster internet for downloads – the iTunes store usurped the record industry.
For Altostream, the question is, “Where is the leverage point in the streaming music industry to disrupt?” Paying fair value to the three Cs of social music: Creation, Curation, and Community will be the answer, and all of this will be achieved using the Conflux Network.
Community members will be incentivized to become Curators or even Creators in their own right, and could potentially be paid by Curators or Creators in $ALTO to engage in promotional activity. The $ALTO token creates an entire musical economic platform where the only limit to the Community’s generativity is imagination.
With Altostream, users can pay directly to the creators of their favourite songs using blockchain technology. Altostream will use Conflux’s payment layer for their ground-breaking platform to empower creators, curators, and listeners via its Afro-Beats beachhead in Nigeria
Using Conflux Network and Avalanche, Altostream will be able to fairly reward value to Creators, Curators, and Community members on the platform using blockchain smart contracts.
Due to Altostream’s unique identifiers, contributors, infrastructure providers, app developers, and validators, including listeners and artists, any music content platform can use them for proper identification and logging of contributions made by all stakeholders.
The reason is that the blockchain company created a system that’s more affordable for listeners, cheat-proof for artists, and has a higher streaming revenue. I couldn’t be more pleased.
The music streaming platforms currently extract value from Creators (musicians/artists) through exploitative contracts. By using algorithms to source playlists, they replace curators (DJs, music journalists). This undermines the ability to form music Communities where dynamic interaction, co-creation, and celebration of cultural connections occur. The rise of streaming platforms was intended to solve the problem of piracy, but instead they have become the pirates themselves.
The Altostream system is designed to create a balanced system that favors all its contributors and ensures that every decision is aligned with all interests.
Creators receive $ALTO tokens for sharing their music on the platform, Curators share and promote the Creators’ music, and people in the Community interact with the Creators and Curators.