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CRYPTOCURRENCIES – NOT JUST FOR TRADERS ANYMORE

Every day we see new projects coming out that plan to utilize cryptocurrencies and
blockchain technology for a specific industry. Most of these projects that use blockchain
technology focus on trading, investing, and finance related platforms and services. But a tiny
minority of the cryptocurrency market is aiming to offer unique services for artists like
designers and musicians.
Many artists currently feel that they are being exploited by third-parties and middleman by
selling their work on their platforms. A British startup called Maecenas is aiming to create an
online gallery, where artists can upload their work and users will be able to purchase it
through auctions with cryptocurrencies. The whole process will be backed by the blockchain
technology in order to ensure full transparency across the platform. It’s worth noting that the
young startup has recently managed to raise over $15 million through an Initial Coin Offering
(ICO), and is planning to release its platform in 2018. But painters aren’t the only artists that
are benefiting from the blockchain technology, musicians are also getting interested.

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