Kena, a decentralized music creator marketplace, is revolutionizing the way musicians can monetize their content. Traditional streaming platforms like Spotify pay artists a minimal amount per stream, making it difficult for them to earn a sustainable income. In fact, 90% of Spotify’s $7 billion payout goes to only 0.7% of the top artists, leaving the remaining 10.9 million artists struggling to earn even $1000 per year.
Enter Kena, which has developed an artificial intelligence music neural engine that can simplify and teach content on behalf of the artists, adding passive income to their earnings. Artists can upload their courses and content on Kena’s platform and set their own prices. Kena then pays 100% of the revenue generated from their sales directly to the artists, while charging a 10% platform commission to consumers.
What makes Kena truly innovative is its integration of crypto tokens on the Avalanche blockchain. Through a unique tokenomics system, Kena redistributes 10% of its total network earnings as a community crypto incentive. This redistribution is based on a game theoretical approach, where artists earn a 7% crypto incentive for every $100 sale, and additional crypto incentives are given based on their accumulated crypto balance.
By incentivizing artists to retain the crypto in their wallets, Kena encourages the creation of network effects and rewards artists for their participation and contribution to the platform. Artists also have the option to convert their crypto into cash through a spot market established by Kena.
This decentralized approach to the music industry is empowering artists to take control of their earnings and create a sustainable income stream. With Kena, the network truly becomes the product, and artists are rewarded for their contributions. To learn more about Kena’s crypto and governance, you can visit their website and download their app for iOS and Android devices.