Getting reasonable pay return in the age of streaming and digital sales can be a rough process but local tech company Lixar is trying to offer artists a better compensation. Through this year’s Megaphono festival, Lixar has been offering artists compensation for listens using Litecoin, a cryptocurrency that allows them to fund artists fast.
by Owen Maxwell
“Understanding the technology may empower artists in the future on how they sell merch or get paid,” said director of market communications, Shelley Fraser.
As part of their trial run of their payment method, Lixar counted plays and partial plays of artists on the Megaphono app towards compensation for their listens, offering artists and fans a way to encourage discovery.
“Discovery is really important, as is having their music valued,” said Fraser. Lixar also hopes to expand the service to other festivals in the future, as well as offer musicians ways to use cryptocurrencies to make merch selling lightning fast.