Resonate, a Berlin-based, community-owned streaming service has announced it has raised $1 million investment from Reflective Ventures.
The blockchain-based streaming platform aims to create a truly transparent digital music distribution platform with the money.
Reflective Ventures is the investment arm of RChain, a cooperative from Seattle whose blockchain system is "ideal for growing decentralised social networks."
Resonate's ultimate aim is to become "the Bandcamp for streaming" and it hopes that its model of distributing revenues in a way that prioritises the needs of creators will be a big pull for future creators.
The platform has already got some labels onboard including Planet Mu, Halycon Veil and RVNG Intl who are all named as early adopters.
In other streaming news, Spotify has finally announced that it's going public with an initial value of around $20 billion.
For more information on Resonate head here.
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