Cryptocurrencies may not be only for traders and speculators after all. A recent wave of artists has started embracing digital currencies like Bitcoin.
Cryptocurrencies – Not Just for Traders Anymore
Every day we see new projects coming out that plan to utilize cryptocurrencies and blockchain technology for a specific industry. Most of these projects that use blockchain technology focus on trading, investing, and finance related platforms and services. But a tiny minority of the cryptocurrency market is aiming to offer unique services for artists like designers and musicians.
Many artists currently feel that they are being exploited by third-parties and middleman by selling their work on their platforms. A British startup called Maecenas is aiming to create an online gallery, where artists can upload their work and users will be able to purchase it through auctions with cryptocurrencies. The whole process will be backed by the blockchain technology in order to ensure full transparency across the platform. It’s worth noting that the young startup has recently managed to raise over $15 million through an Initial Coin Offering (ICO), and is planning to release its platform in 2018. But painters aren’t the only artists that are benefiting from the blockchain technology, musicians are also getting interested…
Read Full: Artists are Entering the World of Cryptocurrencies
