SINGAPORE, June 15, 2018 /PRNewswire/ -- RECORD, the blockchain-based music platform, has unveiled the listing of its innovative RCD tokens on CoinBene and LATOKEN. According to a press release from the Singapore-based company, the token will be listed on the popular exchange in July. Because of CoinBene and LATOKEN's confidence in RECORD's stable technology and pre-existing platform, the listing will take place despite the fact that the company has not yet completed its initial coin offering (ICO).
Their platform rewards the users through an intuitive payout system, which analyses listener's activities such as how they vote on content, in contrast to a traditional central royalty collection basis which most existing music streaming service use. Harrison Shin, General Manager of RECORD Foundation claims the reward-based model is "no-brainer" considering the company's philosophy of transparency and fair payouts.
"While paying the right amount to artists is paramount, listeners who create life around the music, by voting and commenting, should also be recognized; after all, they're an indispensable element to a sustainable entertainment ecosystem," Shin said in a statement.
"This project is not a simple whitepaper-pipedream, it has grounded itself as a reverse-ICO. Having a working product attracted support from musicians, labels, and listeners."
In addition to its high number of active users, the stability and popularity of RecordFarm's existing online music platform, which it is now combining with blockchain technology, is underscored by the awards it has garnered, including MWC Asia Top 3 Music App, Facebook FbStart and a Global Star Venture by Korean Government.
The company is mid-way through an ICO for its RCD tokens and has previously expounded on its business model to disrupt the music industry with an alternative to problems with copyright, royalty payments and artist agreements.
RECORD[RCD] tokens are available to purchase on official website(www.recordfoundation.org) and LATOKEN (www.LATOKEN.com) by June 30 GMT.
Media contact:
Moon Heo
PR Manager
Email: official@recordfoundation.org
Photo - https://mma.prnewswire.com/media/706465/RECORD_token.jpg
