The director of product at Ripple, Craig DeWitt has announced the development of a platform ‘xSongs’ that allows musicians to sell their content for XRP token.
The platform has been developed based on Ripple tech, according to Craig as it allows musicians to keep all the profit from their sales.
xSongs platform is designed to enable content creators to sell their materials to users directly without intermediaries.
This way, the Ripple platform would ensure musicians keep all their profit as there are no more middlemen and customers pay less for the products too.
Craig said without intermediaries, lower prices are guaranteed, the artist gets more revenue and users get more art.
How xSongs work
The platform from the onset has been developed using Ripple’s blockchain.
xSongs works such that when musicians upload their music on the platform, it carries out several checks alongside copyright and makes it available to users who can buy directly with XRP token.
xSongs launch another feather to Ripple’s wing
With the launch of the blockchain music platform, it is no doubt another success story for Ripple as they continue to flourish after 2019.
Towards the end of 2019, Ripple announced that it was their best year ever as they recorded a number of hallmark achievements that year.
In Dec. 2019, Ripple were named 2nd most valuable company in the cryptocurrency industry falling behind Bitman, bitcoin mining giants and where valued at $10 billion.
Brad Garlinghouse, Ripple CEO, further attributed Ripple’s achievement to their persistence and commitment, saying that others in the blockchain space have slowed their growth or even shut down.
Landmark achievements Ripple experienced in 2019
Outside the Series C funding the company achieved in 2019, the company managed to grow its RippleNET payment network to over 300 clients in 2019.
The company also partnered with MoneyGram acquiring around 10% stake in the remittance firm.
On the other hand, as part of the deal, MoneyGram will utilize Ripple’s products for cross-border settlements.
At the climax, the company announced that in Q3 2019, its total XRP sales rose by $66.24 million in addition to its$251.51 million in Q2.