Pitbull Will Invest in a Blockchain Solution For Music Industry

Pitbull Will Invest in a Blockchain Solution For Music Industry

Blockchain may soon shake up the realm of music as Armando Perez, more known as an American rapper Pitbull, or Mr. Worldwide announced his plans to set off a universal blockchain programming contest Smackathon to change the game-rules of the showbiz.

This project will allow the entrants to use Ethereum when it comes to progressive ideas vary from curated playlists to entertainer royalty contracts.

Pitbull’s Blockchain Tug

The rules of the contest appear to be pretty simple. Since the day of announcement till May 25 all the partakers will have to generate a resolution, based on the blockchain. For that, they must utilize an open-source smart contract platform (provided by Zeppelin).

There are no particular criteria for participants. All of them just will have to demonstrate that they are capable of generating an idea that can undermine the current state of showbiz and change it for better.

Later the best ideas will be picked, and high-achievers will get an opportunity to get to Miami and present their project to Pitbull in a finale.

Given the following aspects, the entrants’ resolutions will be judged:

  • Novelty
  • Applicability
  • Framework
  • Breadth
  • Technology

Some entrants might get premium grades, and that is if they use the OpenZeppelin platform.

All the solutions will go through the judgment of four referees, among which there will be Pitbull. The champion crew will get $6,000, and if the known rapper appreciates the idea, he will pile his funds into it to get it implemented. Zeppelin, eMerge Americas and Medina Capital will also support the resolution.

Another Blockchain Bull

Despite being highly successful in the music business (by the age of 37 Perez has won three Grammies), Pitbull is also known for being a continuing businessperson. And about his recent venture, he notified the world just this week – on April 24.

The title of the blockchain "fight" Smackathon that will be reachable for part-takers from all over the globe comes from the famous geek event hackathon. In accordance with Pitbull’s plans, Smackathon will permit people worldwide to apply the blockchain-supported independent platform of Ethereum as they consider new ideas to be implemented in the realm of entertainment.

Smackathon’s event will take place on par with eMerge Americas gathering, which is a yearly technological gathering held in Miami Beach. Its goal is to unite tech-enthusiasts from North and South Americas as well as Europe.

Melissa Medina, the exec VP of eMerge Americas, told CNBC that she has always been into bringing music into the project, so she indeed appreciates the participation of Pitbull in that and even believes his involvement will be something "big" and "special."

According to her words, Pitbull has not been satisfied with some issues (as she called them "frustrations") in the modern music world, so apparently, he is trying to solve them with the help of blockchain. Medina also added that Pitbull keeps in mind what is going to be the future of artists like as well as the obstacles that they are encountering at the moment.

e
Canada Reports Blockchain To Be Amongst Its Highest Paying Industries
A report recently published by the Canadian Digital Chamber of Commerce proves that the money involved in the blockchain industry of the nation is at...
KodakONE Blockchain Beta Test Generated $1 mln in Content Licensing Claims
More than $1 million — this how much in licensing claims KodakONE, a dev of DLT-based image rights platform, has generated. Certified by the American...
UNICEF Funds Six DLT Startups to Solve Global Issues
UNICEF is both crypto- and blockchain friendly. A few months ago the French leg of UNICEF said it was accepting donations in nine types of...
Facebook Has Opened 5 Blockchain-Related Vacancies
More than half a year ago social media titan Facebook set up a blockchain group to explore how to employ this technology to the maximum advantage of...
Seven Southern European Countries Agreed to Promote Blockchain
Seven countries of Southern Europe signed a declaration in which they commit themselves to promote blockchain. These countries are Cyprus, France...
Amazon Embraces Blockchain Despite The Dip on Crypto-Market
Even as crypto-market plunged from nearly $830 billion in January to $121.5 billion this week, the leading e-commerce company sees an opportunity in...
Microsoft Releases Dev Kit to Connect Users to Blockchain
The American technological titan Microsoft has finally introduced its development kit dubbed Azure. Azure functions without a server and is powered...
JPMorgan: Investors Should Keep an Eye on These DLT-Friendly Companies
If you are an investor, it might still be challenging for you to get exposed to DLT, unless, for sure, you are purchasing bitcoin. To ease the life...
Blockchain Engineers Make As Much As AI Specialists
Engineers working in the blockchain domain are as demanded as those who work on artificial intelligence. Such a conclusion can be made from the...
Blockchain Market Could Be $7 bln and Boost Amazon, Microsoft, BofA Says
Novel estimates from one of the most influential investment banks in the world — Bank of America — showcase unalterable ledger spread will be of use...