Feedbands, a streaming service that focuses on independent artists, is now paying both artists and customers in Bitcoin with the help of its pay-per-stream feature. On top of that, the users can earn crypto through a referral program with every qualified stream.
Adopting the Lightning Network
Currently, Feedbands is beta testing the Lightning Network (LN) to accelerate the speed of transactions and reduce their cost. The company states that the LN is a perfect fit for creating a micropayment economy within their streaming service.
Beyond the payment feature
Apart from bringing crypto into the multi-billion dollar music industry, Feedbands also battles climate change by planting a new tree for every qualified stream because of the partnership with ‘Trees for the Future.’
Our new platform plants 1 ? for every 100 qualified streams. We’ve planted over 2000 trees since rolling it out last week! Let’s keep the music streaming and the trees growing ? we got thishttps://t.co/AloFjYQQoB— feedbands (@feedbands) March 11, 2019
In such a way, the company wants to show that Bitcoin, which is constantly bashed for its power-hungry proof-of-work (PoW) algorithm, can produce a positive environmental effect.
Dash was the first choice
It is worth noting that the company earlier chose Dash for paying its customers. The company’s CEO earlier explained that they chose Dash because it allowed instantaneous transactions. On top of that, the asset has appreciated tremendously over the past few years (it’s the third most profitable cryptocurrency of all times).