Musical Technology and Currency
Currency is what drives investment opportunities, whether those investments are in niche products or services, or in musical technologies. What many people fail to realize is that musical technologies incorporate much more than the tools used to create or produce the music. They also include the forms of payment used to obtain it or create it. Both artists and consumers benefit in this regard. Bitcoin has been the subject of much debate because it is a polarizing force. This crypto-currency was believed to be the next big investment, but it has seen its ups and downs. Here are the ways it can shape the music industry investments.
Bitcoin is intriguing to artists because it allows the artists to go directly to the consumer with their music. They do not have to worry about a middle man taking a cut of their money, or a company shaving money from their profits in a secret fashion. Bitcoin provides and instant transaction online, and it provides a new connection between the artists and the fans. Credit card transactions are one of the major issues for direct artist-to-fan interactions, because of security concerns. This eliminates many of the headaches artists associate with record labels trying to negotiate bad deals on their behalf.
Additionally, Bitcoin has the potential to greatly influence international sales. If a band wishes to go mainstream, but they are located in a country where they do not receive much exposure to generate sales, then they can accept Bitcoin to make their album sales appear much more attractive to consumers. Consider how much easier it would be to pay this way, as opposed to having to calculate how much a record costs according to different monetary assignments. Investing in Bitcoin allows you to reap the benefits from a new way of doing business.
Interestingly, music piracy is one of the main issues regarding the loss of money for artists. Bitcoin transactions are catalogued. This prevents people from being able to use it to obtain music illegally. As a result, the stock in bitcoin has risen, as it relates to the potential for becoming a medium for artists and fans to use. Piracy and other musical theft issues become obsolete if Bitcoin is used. The main issue you must consider is whether or not the investment is worth the risk to obtain the long-term reward.