VOXXO seems to be the most interesting cryptocurrency I’ve come across. Their main goal is to use their currency for music related media, getting it accepted in the music sector as a viable way to pay for live entertainment. They believe it is important to change and develop new ideas when deviling music, using licensing deals and the voices of the people in an attempt to get their point across and reach the ears of those who need to listen. On top of being a music player itself, an odd but unique choice in my opinion, VOXXO stands to let the community decide how much music is “worth” with their investments into their cryptocurrency, claiming world scale concerts are where they will see their returns.
- Token: VOXXO
- Price:1 VOXXO = 0.01 – 0.05 USD
- Accepting:ETH, BTC
- Soft cap:300000 USD
- Hard cap:1250000 USD
VOXXO has a mobile app you can download to listen to and stream music, purchasing hours of listening time with your VOXXO Tokens and putting money toward the music industry. According to their roadmap, by the end of 2019 they will have multiple live shows scheduled and ready to go with the money they make, as well as work in collaboration with big music industry to help spread the word of their company and make their voices even louder.
To date as of this article, they have received $300,000 in crowdfunding revenue, with no information as to how many people that is divided into. Personally I think this is a very intriguing idea, using the cryptocurrency you generate to fund a specific thing is an interesting strategy that I can’t say one way or another if I think it would be effective.
It’s a strong ambition and a strong idea for sure, but as far as how the public would receive it
I imagine a lot of people would be skeptic about paying for their music (even if it’s just with cryptocurrency) when music is so readily available online at their fingertips. Using that as your way of gaining profits feels weak and unstable, but with enough passionate fans, it can be done. CDs still make money, bands still go on tour, there are people willing to invest their money into music and music fandom.
How many is just a mystery. I enjoy the interface of VOXXO’s app but I do not like the pay-to-listen model, as music is a very… surreal experience that can be very easily interrupted or must be stopped suddenly for whatever reason, I feel paying for that could lead to more people feeling ripped off than like they accomplished something.
Other than my skepticism, I would give VOXXO a 4/5, very interesting business model that I look forward to seeing how it fairs during the upcoming year, definitely one I’ll be keeping my eye on. I could see this idea branching out into movies, TV shows, etc. and the expandability of the model is amazing. Hopefully by the end of 2018, I’ll be hearing VOXXOs name a little more often, and maybe become a customer myself. Visit VOXXO WHITEPAPER