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The music industry remits billions of dollars in revenue yearly from the masterpieces music artists create in the form of songs. However, music artists are owned by record labels as they're bound by contracts that give these labels the right to do with the music licenses and profits as they wish. This has led to exploitation and losses on the part of the artists, but with Klangaverse (KLG) on the Binance Smart Chain (BNB), it's time for them to take control and dictate their profits and rights as they deem fit.
Over $43 billion is generated by the music industry, with only 12% remitted to the music artists. As a result, struggling artists have a hard time scaling the hurdles of being owned by a music label. There are barely any profits left for them to fend for themselves after the record label takes its share, and this exploitation by labels and the oligopoly of music executives have killed a lot of dreams.
Klangaverse (KLG) is a decentralized music streaming project developed on the Binance Smart Chain (BNB) to provide solutions to solve the above-listed problems. The Klangaverse (KLG) platform transfers power to the hands of music artists to create and share their music in the form of NFTs so that they get paid directly by their fans and take all the profits to distribute among their team as they wish.
The Klangaverse (KLG) runs on the Binance Smart Chain (BNB) to ensure its users get the best from transactions in terms of speed, security, interoperability, and low fees. Furthermore, with Klangaverse (KLG), the music artist can assemble their team, which could be only them or a few others, and determine how all profits are distributed compared to a record label.
Major problems music artists face in the industry include a lack of ownership, unavailability of royalties, and inadequate revenue. Artists have no ownership over their music with the intervention of streaming platforms and record labels. These distributors usually determine what happens with an artist's music, making it more difficult for the artists to make a living.
Artists also lose royalties as they get to sell their music licenses to third parties who then use their content in documentaries, films, public distribution, or use by other artists in remixes. These actions lead to even more losses on the part of the artists, as millions of dollars are lost in unclaimed royalties. Music artists also get ripped from insufficient revenue from having their songs on streaming platforms.
For instance, when you stream a song on Spotify, the artist only gets paid $0.0033. Earning $1000 will mean streaming the song 303,000 on that user's account, and if you must stream, you'll be paying for premium plans on the app already. These platforms make billions while the artist barely gets anything for their content.
All of these problems will be laid to rest with the Klangaverse (KLG). As a fan, you get to support your favorite artist with the KLG token as you buy their music in the form of NFTs. Also, you get to earn more KLG tokens as a fan or artist when you buy with certain cryptocurrencies and within a specified period.
If you buy KLG tokens with ETH, BNB, USDT TRC-20, USDT ERC-20, or BTC, you get 14%, 25%, 20%, 14%, or 16% more of your purchase. However, if you buy KLG within 28 minutes after signing up, you get 15% more.
The Klangaspel is a play-to-earn game where you can become a music star in a virtual world by playing musical instruments. In addition, this game allows fans to earn from in-game assets and concerts as they support their favorite artists.
Klagaverse (KLG), running atop Binance Smart Chain (BNB), will liberate artists from the shackles of the industry and help fans support their favorites better. Become a part of this innovative platform today by purchasing KLG tokens.
