AudioCoin (ADC) jumps 80% after Miloco Studios starts taking ADC payment
Miloco Studios will now be accepting payment in AudioCoin, bitcoin and others, via its partnership with Blockpool (BPL).
In the hours following its announcement that Miloco Studios would be accepting payment in AudioCoin (ADC), that coin's prices rose by almost 80%, most likely as a result of this news.
In the hours following the announcement that the partnership was facilitated by the Blockpool (BPL) system, that coin's prices decreased slightly, most likely for unrelated reasons.
Miloco Studios?
A fairly big name in the music industry, Miloco runs and rents recording studios all over the world.
Depending on your musical preferences, there's a decent chance your favourite album was recorded in a Miloco studio.
AudioCoin?
A cryptocurrency for the music industry, as the name suggests. It's designed to let fans, artists and others involved in the industry earn ADC in various ways, to exchange for fiat currency or spend on related services.
- Fans – Fans can earn ADC by sharing and interacting with music on the Aurovine platform.
- Artists – Artists can earn ADC by having their music shared and interacted with on the Aurovine platform.
- Others – Others involved in the industry, such as Miloco Studios, can earn ADC by accepting it as a payment method.
Blockpool?
A blockchain-as-a-solution company with a focus on integrating blockchain technology with legacy systems.
It started life as an offshoot of the Aurovine project (home of AudioCoin), which aimed to combine music and the blockchain, when its creators realised in 2011 that "the potential impact of blockchain applications could be hugely significant for other verticals."
It uses a delegated proof-of-stake mining system and focuses on highly modular design, to blend private, public and consortium blockchain solutions for businesses as needed.
Blockpool has previously added a cryptocurrency checkout function to One Little Indian's (Bjork's label) website and has deep ties to the music industry, making it a logical solutions-broker for Miloco Studios.
AudioCoin appears to be largely geared towards "balancing the playing field" between new and established artists and creating a new revenue model to further decentralise music creation and sharing.
But despite an apparent focus on emerging artists, the coin may benefit from getting big names onboard. Having a partner like Miloco Studios could serve as a tempting solution for well-known artists (and their producers) who want to cut costs and expand their fanbase on a new platform at the cost of giving away a bit of music for free.
Meanwhile, Blockpool has another feather in its cap. The BLP coin price might not have moved with the announcement of the Miloco-Blockpool partnership, but its affiliated ADC coin certainly did.
Audiocoin, Aurovine and Blockpool are all tied together. This might help facilitate AudioCoin's growth quicker than its application alone could.
If you're interested in Blockpool style business solutions, or industry-oriented blockchains in general, you might also want to learn more about:
Latest cryptocurrency news
- SEC crackdown on Binance, Kraken – What it means for Aussie investors
- Sam Bankman-Fried found guilty – what it means for Australian FTX victims
- Bitcoin’s price soars over 10% on ETF rumours – here’s why
- New regulations for Aussie crypto exchanges: What it means for investors
- Sam Bankman-Fried’s FTX trial starts tomorrow – what it means for FTX customers
Picture:
