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Altostream app makes debut
Altostream has unveiled an application to promote Africa and Afrobeat music.
According to its founder/Chief Executive Officer, Segun Komolafe, “we feel it’s our responsibility to innovate by building products that would keep people entertained while still providing monetary value to encourage them.
“Altostream is an amazing, out-of-this-world music streaming app that’s built on the blockchain.
“Altostream isn’t just another streaming platform, it’s a product that would change lives and improve the quality of content we listen to.”
Komolafe said the music streaming platforms extract value from creators.
Creators such as (musicians/artists) through exploitative contracts and that using algorithms to source playlists, they replace curators (DJs, music journalists) are saved from exploitative practices.
This, he said, undermined the ability to form music communities where dynamic interaction, co-creation, and celebration of cultural connections occur.
The chief executive said though streaming platforms were aimed at solving the problem of piracy, done of them had compounded as new artists had to wait for years to get the profit on their investments.
Altostream allows you to make money by tokenising listening. This lets artists, curators, and listeners earn money directly from creating, sharing, and streaming while allowing artists to upload musical content at their own pace.
Also, the firm’s Head of Product Design and Research, Gideon Oladimeji said Altostream had adopted the use of tokens to reward creators for sharing their music on the platform, curators for sharing and promoting the creator’s music, and music fans for engaging with creators and curators.
“The $ALTO token creates an entire musical economic platform where the only limit to the Community’s generativity is imagination,” he added.
