Ripple xSongs in the present and future can be called a great and interesting project. Ripple Product Director Craig DeWitt created this platform to help creative people generate revenue for their talent. In an interview with The Block, Ripple xSongs talked about some of the features of the platform in the present and in the future, including 100 percent revenue for artists and the likelihood of adding e-books.
Ripple xSongs Present and Future: Details
Ripple xSongs was the subject of an interview with Ripple product director Craig DeWitt for The Block. The creator of Ripple xSongs shared some of the features of the platform in the present and future. First of all, the Ripple xSongs platform allows artists to sell their music on XRP and save 100% of their income. According to Craig DeWitt, he currently personally finances the Ripple xSongs project and is not interested in monetizing it.
Ripple’s product director has been working on this project for a couple of months now. Its mission is to connect digital content creators, such as musicians, directly with consumers to help cut costs. As Craig DeWitt noted, when there is an opportunity to refuse intermediaries, you can get a lower cost, more income for the authors and more art. It is worth noting that when downloading music to the Ripple xSongs platform, the content goes through a series of checks, including copyright. Currently, Ripple xSongs has been launched in beta, which means consumers can buy songs through XRP. They can pay through a Payburner wallet or any other wallet. Payburner wallet was developed by Craig DeWitt based on the Ripple XRP Ledger.
In an interview with The Block, an employee of Ripple said that a wallet has been created that allows authors to accept payments from anywhere in the world, and customers can send them with just one click of the mouse anywhere in the network. When developing the Ripple xSongs, Craig DeWitt was inspired by Bandcamp, an online company that pays special attention to indie artists. However, Bandcamp charges a 15% commission and another 6% for processing, that is, only 21%. On the other hand, Ripple xSongs is a model for the contractor, which means that the platform fee and processing fee will always be 0%. When asked about the monetization plans for Ripple xSongs, Craig DeWitt said he was not interested in this at the moment.
According to the author of Ripple xSongs, now he personally covers the costs. In addition, if you create something that people can really like, then monetization can occur on its own. Craig DeWitt indicated that he personally funded around 500 Payburner accounts, i.e. 10,000 XRP. So far, there are about 100 artists and about 500 songs on Ripple xSongs. In the future, as the developer of Ripple xSongs hopes, the platform will have at least 1000 artists and 10,000 music sales by 2020. Craig DeWitt also noted that in the future, in addition to music, books, paintings and other creative content may appear on the Ripple xSongs platform.