CyberFM changing the way we listen to music!!
Main stream platforms make money from ads that you have to listen too, In CyberFM you get paid for these ads!! Yes you read it right, CyberFM has changed the way we listen to music. Lets look into it and see how.
For the listeners
Unlike other music streaming platforms that charge you monthly subscriptions CyberFM actually pays you in cryptocurrency to listen to their music!! They have a nice selection of music (I personally love the reggae station my favorite genre). They also don't have stations or channels playing the same music like we hear all the time with these mainstream platforms. The app has a nice interface, very smooth and easy to navigate. You may skip, seek and listen to music all for free!! They also offer a 24/7 live streaming radio, handpicked partnered podcast and their own insta-tunes for on demand music and shows.
For the entertainers
If you are a musician and want your music to be played on CyberFM, You can request to do so and if you qualify you can receive payments in MFTU jus like how listeners get paid in CYFM. MFTU is considered more of a royalty payment compared to the CYFM tokens. Their instant bridge to play songs on their radio makes it convenient for music artist and their fast delivery of payments make them a preferred system by thousands of musicians. The MFTU currency allows for a direct payment procedure, setting the way for a secure and transparent process.
My final thoughts
I am very impressed at this app and team. I have been using this app for a few days now, and I love the music selection. The amount of points I accumulated has been generous! The value of the token is low, but the idea behind the project is revolutionary. They continue to work on improving and are now collaborating with other decentralized projects and exchanges.
So far I am glad I have discovered this and I will drop more updates as I continue this process of learning more about this product, while listen to these jams!! Maybe you will tune in too and see for yourself?! More on them can be found here https://cyberfmradio.com/site.html and like always, stay beautiful and may u have a blessed day you crypto OG!
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Sorry, it's the You should add this tag guy again ;-)
When writing articles on anything related to music, always use the musicforlife tag - it's a pretty new tribe but also a pretty promising one.
Happy to see you are doing so well already!
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Are radio station services still trying to provide monetised listening? A long time ago, I checked out Bitradio services. Though kinda cool concept, I didnt like the fact I needed to actively press some button every time it required me to do so. Though I understood the idea behind this, to prevent users playing radio 24/7 on some device placed in some cupboard with the sound turned off, ie abuse the reward system; I stopped using the service.
Will have to look into this one you pitch in your post: Cyberfmradio. How do they manage the rewards and prevent abuse?
Good point indeed as this is something that I have left out since personally it was not too inconvenient for my situation. But lets start with managing rewards.
When I downloaded the app I was prompted to add my wallet, I linked MetaMask which was confirmed to be an applicable wallet by the community. Here is a screenshot of the rewards system how it distributes points. I have not seen this anywhere except through a telegram message by the founder, to an inquiry from a user.
I have personally not received rewards yet but it was confirmed by the community that the rewards are paid out during the first week of every month into your ETH address that you entered.
Preventing abuse is done in a similar fashion as you have stated. The app will prompt you to confirm that you are listening but in my experience it happens maybe once every 2-3 hours which in my situation is not an issue compared to the possible amount of free tokens that can be earned. The commercials are also not so bad in my opinion, fairly short and not too often unless you are trying to skip alot of music lol
I hope this clarifies some things that I left out, If you try it please let me know how you like it! Or if you didn't haha I'm new to a lot of this and perspectives help me to see a bigger picture. Thanks for bringing this up I hope you enjoy it, either way though I hope you have a blessed rest of 2020 and 21. Being involved in crypto is a really exciting and promising start :)
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I suppose such service are really nice when listening to radio a lot. I not really like pre-programming and like to create my own playlist. Maybe a reason why I stopped using Bitradio as well. I barely used it to be honest, since am not that radio guy. But the cool is, any culture is different. In africa a lot of people listen to the radio. And for these socities, this service can be super cool: They can reach out to radio stations worldwide and also earn something will listening.
I checked the coin value and age. Its already there for a few years with rock bottom pricing, but also no sustainable uptake on the coin value as far as I could see. That tells me, the earnings are just a little bonus, maybe it can be used as an incentifier to use the app more over normal radio or other radio apps. But in my country I will need to listen more than 3600 songs for a decent cup of coffee at a nice coffee bar. 3600 songs: lets assume 3,5 minute per song in average, equals more than 12600 minutes equals about 9 days full stop listening. Unless these services will provide something really cool for the token (economy wise), I dont see the value increasing with a factor of 10 or 100. The daily trading volumes are so low, I expect with a few 100 dollars the token value can be pumped to 10+ times current value, but others will take the price down to low imediately.
Just checked Bitradio on coingecko, just out of pure interest since we are talking about these crypto rewarded tadio services: similar history on coin value and also super low trading volume.
Cool you shared the earnings chart. Something definately interesting from understanding and research point of view. I think CyberFM did well not to provide this information their website. When using the app for monetary reasons, will not drive their ad-revenues. These type of consumer based services that attaches crypto rewards to use of the service, shall never be promoted as reward based service in my opinion. Since this will drive abuse, which in the end will harm the sincere users and the sevrice itself.
Thank you very much for your research and reply! It really shows the type of quality of curating that LeoFinance provides. It means a lot to me that you could put things in such perspective, It helps me to see how I can better review future products and make it digestible for a wider range of audience mainly by being a little more detailed in my approach. My reviews have been revolved around my personal situation and circumstances and now I see how it can be viewed from a wider audience. That was hard for me to realize due to the sheer excitement I've been having recently through my discovery of crypto. Thank you for taking the time, as these type of comments will assist me to provide more detailed and quality type of posts. May you have a beautiful blessed day my crypto buddy!
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You're most welcome :)
Wish you all the fun in discovering the crypto universe. A lot of projects around, a lot of pretty cool things, but also a lot of promises; You will notice all of this in time :)