eMusic has announced a $70M token sale to build a decentralized music distribution and royalty management system. eMusic is planning a public pre-sale for its eMusic utility token (EMU) beginning in September 2018 with a token generation event (TGE) immediately following.
“For two decades, eMusic has been a champion of independent artists and their fans. However, today’s supply chain for music is broken. While streaming has made it possible for anyone to listen to virtually any song ever recorded at any time, its underlying economics are financially crippling to the most vital piece of the music ecosystem — artists,” said Tamir Koch, CEO of eMusic. “And on the other side of the supply chain, service providers are losing billions and struggling to stay alive. Most fans don’t realize that this is an unsustainable future with fewer artists and fewer providers.”