PeerTracks Will Allow CryptoHipsters to Profit by Discovering a Band Before Anyone Else

Click here to view original web page at


You know that friend who always tries to score indie snob cred by saying he thinks a specific band’s “early stuff was better?” P2P music startup PeerTracks might have devised a way for your hipster friend to monetize his early adopter status.

PeerTracks uses the BitShares platform to allow bands and individual musicians to create and distribute their own cryptocoins to their fans, who are in turn incentivized to spread the word about the artists.

“For the first time, artists can now engage and incentivize their fans into sharing their music,” cofounder Cédric Cobban said in a statement Tuesday. “Using the blockchain, all trades are done peer- to- peer, no trust required.”

PeerTracks’ goal is to cut out any intermediaries between artist and fan (e.g. record companies, distributors) and allow a musician’s popularity to grow organically with word-of-mouth interest.

Addressing artists, the company writes on its website:

“The more popular your music gets, the more sales you make on PeerTracks, the more each coin will be worth. Your fans now benefit financially by sharing your music on all social media networks, blogs, forums etc. Every single user is now a potential talent scout. If a song goes viral thanks to your fans, you all benefit together.”

The Various Coins

PeerTracks is built on top of the BitShares Music platform and functions as that network’s talent discovery engine.

That platform’s coin is called Note. The coin is the only way to interact with the BitShares music blockchain, and a presale for Note is currently underway. The presale represents 20% of all Notes, and those are available for purchase in BTC on the BitShares Music home page.

All told, BitShares plans to create 1.5 billion Notes.

PeerTracks, however, will sell artists’ coins in exchange for BitUSD, a coin that is pegged to the USD, to overcome any users’ concerns about volatility. Then, an artist can begin to sell his/her/their music on PeerTracks in exchange for artist-specific coins.


If this sounds familiar, it’s because NXT created something similar back in the summer with its NXT Digital Goods Store, which also offers a middleman workaround by allowing creators of any digital art to sell directly to customers.

BitShares’ innovation is allowing the artists to create an issue their own coins, which incentivizes a whole new level of network participation beyond simply buying music.

“Say you find an artist early on, before he is popular, you like his music and decide to buy his coin,” PeerTracks’ FAQ reads. “If that artist goes mainstream and starts selling music on PeerTracks, his artistcoins should each be worth more now then when you purchased them.”

“Remember this works both ways! If you buy an artistcoin from a band that never manages to sell their music, the coin could end up being worthless.”

Did you enjoy this article? You may also be interested in reading these ones:

Instantly buy Litecoin, Dogecoin, Peercoin, and Darkcoin at *No account needed*

PeerTracks uses the BitShares platform to allow bands and individual musicians to create and distribute their own cryptocoins to their fans, who are in turn incentivized to spread […]


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by
Tags: media one

Recent Posts

  • Bitcoin Business

Bakkt Kicks off Test-Launch Phase for Physical Bitcoin BTC Futures

Testing of Bakkt’s Bitcoin futures contracts starts today as the ICE-backed startup is trying out the underlying infrastructure to see… Read More

6 hours ago
  • Bitcoin Business

The Myth of Authority: Mnuchin Denies USD Is Used Criminally

U.S. Treasury Secretary Steven Mnuchin has once again weighed in on bitcoin, claiming the U.S. dollar has not been used… Read More

6 hours ago
  • Bitcoin Business

Survey: Just Four Percent of US Public Favour Bitcoin or Other Crypto Assets as a 10+ Year Investment

According to a survey produced by financial services firm BankRate, Bitcoin and crypto do not represent a popular choice of… Read More

6 hours ago
  • Bitcoin Business

Analyst: Bakkt Could be a Huge Catalyst for Bitcoin; Is a Price Surge Inbound?

Despite facing multiple long delays, the highly anticipated Bakkt Bitcoin futures platform has finally began testing, and many analysts are… Read More

6 hours ago
  • Bitcoin Business

Robinhood Raises $323 Million, Still Worth Less Than Coinbase

Robinhood's $323 million fundraising haul values the trading app at $7.6 billion. But it's still worth less than Bitcoin exchange… Read More

6 hours ago
  • Bitcoin Business

Crypto Market Leaders Differ on Pace of Inst Adoption. Who’s Right?

Binance CEO says there's no influx of institutional investors in bitcoin and other crypto tokens, but reports say otherwise. |… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More