What Is Listen-to-Earn In The Crypto Industry?

As cryptocurrencies continue to grow in popularity, so do the ways investors can earn crypto assets. Lots of people want to find ways to earn money and cryptocurrency without having to risk their existing assets.

Thankfully, companies continue to come up with new and exciting ways for users to earn these digital tokens with little or no investment.

Apps such as Decibel and Current Media are rewarding active users for their attention.

The former, Decibel, works hand-in-hand with Clubhouse to continue expanding to other social audio streaming platforms. Listening, speaking, moderating, and even running a club allows users to earn crypto for their efforts.

Current Media allows users to earn while listening to music. They do this by passing some of the ad revenue on to listeners. This incentivizes users to listen, which in turn makes for a more appealing platform with an engaged audience for advertisers.

Listen-to-Earn for Artists

As the world deals with the long-lasting effects of a global pandemic, the music industry suffers without the ability to reach fans directly via tours and concerts.

Now more than ever, support for real-time revenue for artists of all walks is growing. Rather than waiting extended periods for royalty payments or hoping their next tour doesn’t get canceled due to another pandemic surge, musicians can now turn to the crypto industry, which is positioned to disrupt long-established industry practices.

The cryptocurrency market grants more flexibility than traditional central banking and financial institutions. Companies are exploring what it means to pay artists more quickly and efficiently while also incentivizing fans to use their platforms.

Blockchain-based Audius, for example, hopes to transform streaming into an intimate relationship between artists and their fans. Their goals include creating a way for listeners to pay artists for the music they’re consuming while crowdfunding new projects by the artists they love.

Looking to the Future of Listen-to-Earn

Many listen-to-earn platforms are in various stages of development. Some focus more on social media aspects (such as Decibel) while others aim for the music-streaming side.

Some offer more benefits to listeners. Some offer greater benefits to creators. And some even provide a blend of both. As these platforms continue to evolve, some will become a lasting force in the listen-to-earn arena.

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