*By Jacqueline Corba* The music industry is broken because artists are not getting paid what they should, said Ujo Music's co-founder Jesse Grushack, and he can fix it with blockchain technology. Ujo Music is part of the Consensys studio, led by Joe Lubin, the co-founder of the blockchain-based computing platform Ethereum. More than 80 artists, including Imogen Heap, RAC, and Giraffage, are on Ujo Music's platform. No money can be exchanged yet, but Grushack said eventually artists will be paid with Ethereum. "What matters is the artist is getting a fair value for use of their song," Grushack said Thursday on Cheddar's The Crypto Craze. Through Ujo Music, creators can maintain control of their licensing agreement and set their own price and rules for how their own content can be used. Grushack said the goal is to create an ecosystem in which no matter where content lives on the web, artists get paid. "A lot of people have grand ideas in blockchain, but the pipes to build all that stuff aren't quite there yet," said Grushack. "Consensys allows us to play with ideas, play with tech, and provides us with services such as marketing and diligence." For the full interview, [click here](https://cheddar.com/videos/how-ujo-music-is-leveraging-blockchain-to-pay-artists-fairly).

Share:
More In Technology
Vuele Platform to Offer First-Ever NFT Direct-to-Consumer Film Starring Anthony Hopkins
Fintech company CurrencyWorks partnered with Enderby Entertainment on a new platform called Vuele featuring the actor Anthony Hopkins in a film called “Zero Contact.” But it won't be coming to theaters or streaming — it's an NFT. Cameron Chell, founder and chairman of CurrencyWorks and co-head of Vuele, joined Cheddar’s Closing Bell to provide some insight into how it all works. Chell described Vuele as the first-ever direct-to-consumer film viewing platform that incorporates NFT tech making the movie a digital collectible, not for mass-market viewing.
Load More