Ripple’s director of product is rolling out a new digital marketplace that will allow musicians to sell their songs online for XRP.
Called “xSongs,” the platform utilizes Payburner, an integrated payment system built on top of the XRP Ledger, says Craig DeWitt.
There’s no fee to upload or post songs, and musicians will receive 100% of the revenue from their sales through peer-to-peer XRP payments.
The marketplace won’t support legacy payment methods and allows creators to set their own price.
DeWitt says the short-term goal of the platform is not to make money, but to create a thriving product that increases the usability of XRP.
“If you can build a product that drives significant value to the market, monetization will not be a problem.
Uber loses money on ever [sic] ride they give, but they’ve built something incredibly valuable.”
The project is currently in beta for the uploading/publishing side of the marketplace, which includes a wallet and the ability to manage music.
“Once we’ve gotten enough music uploaded and finished building the front end marketplace, we’ll turn on the purchasing side of xSongs.
This will be the front end to allow anyone to buy songs.”
That’ll likely happen in a few weeks, after the publishing build-up phase concludes, according to the Ripple executive.