In this interview segment, Bryce Weiner explains how FanMix + AltMarket allows artists to pre-sell albums to raise money. FanMix is designed to help artists vault over the money barrier that keeps them from succeeding.
And it does it without taking any song rights from the artist in the process.
Fans pay with dollars (other traditional currencies coming), artists earn dollars. The referral system pays out in Tao. If the artist raises more than $10K then they’re issued their own cryptocurrency which only can be bought or sold for Tao.
But none of this requires the fans to be familiar with crypto since to them it just works as artist rewards points. Crypto mass adoption requires this just like any other technology – no need for the average person to understand how the tech works. It just does.
How @BryceWeiner has created @fanmix & @_altmarket to work together to let fans pledge $$ to artists while earning #cryptocurrency – making money for fans while helping new artists launch their careers#musicindustry #FanMix #crypto #IAO
— Tao Blockchain (@taoblockchain) September 16, 2019
Here’s an article Bryce posted recently which goes into more detail about how artists (and fans) can create passive income using FanMix and the referral system