XRP Enters The Music Industry, Ripple Invests in Santa Monica Based Startup

Ripple has started venturing into the land of music, with a backing of Raised in Space Enterprises. Raised in Space Enterprises promises to be an investment group which works on helping founders in creating solutions for the music industry.

Ripple has invested through its investment initiative Xpring and has ambitious goals of using blockchain and cryptocurrency to revolutionize the music industry. Xpring’s primary goal is to connect entrepreneurs with the utilization of XRP.

Raised in Space Enterprises is headquartered in Santa Monica, California which is the music hub of the world, similar to how Silicon Valley is IT’s headquarters and Malta is becoming Blockchain island!

The music company boasts of being founded by Ithaca Holdings which is led by Zach Katz who is a known music entrepreneur.

Overall Raised in Space will help fund music space in areas such as creation, distribution, fan engagement, ticketing, touring and guiding of projects.

Ethan Beard, SVP of Ripple’s Xpring said in a Press Release:

“We’re excited about blockchain’s potential to solve problems in the entertainment space – from new ways to monetize creative content to innovative fan engagement models that were not previously possible. Xpring is about empowering the best entrepreneurs to apply technologies like the XRP Ledger in new and novel ways, Raised In Space is an extension of that effort, and we couldn’t ask for better partners than Zach, Scooter and Shara. Forming the company is an important first step, now we’re excited to see how the entrepreneurs they back will build new solutions that can reshape the music industry.”

Blockmanity’s Take

It will be interesting to see how Ripple revolutionizes the music industry, given how it has created competition with SWIFT for cross border transactions.

Given that Tron has already taken charge of the peer to peer exchanging of media through BitTorrent, and Ripple breaking through to the music industry it will be exciting to see how blockchain and cryptocurrency revolutionize the entertainment industry. The music industry has seen heavy falls due to internet downloads, and so Ripple could help the music industry gain back what it’s lost!

Maybe, a Dr. Dre collaboration with Ripple in the making?

Also Read:

Ripple Moves $302 Million Worth of XRP With an Interesting Memo

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