Tradiio Thinks a Virtual Music Stock Market Is a Good Idea

tradiio

Tradiio is a new platform/game that will soon launch. The platform is scheduled to go live in England in February 2015, but is based in Portugal, according to Dinheiro Vivo.

Tradiio says the platform will be free.

Users will listen to artists who have uploaded their music to Tradiio, investing virtual coins in the artists they like.

Dummy says users will be able to exchange “virtual winnings” for real life prizes, like festival and concert tickets.

Artists who do well on the platform can earn festival slots, studio time, radio play, press, and label deals.

Tradiio has partnered with Punch Magazine, Dummy, and others. They’re backed by Espírito Santo Ventures and Exago Ventures. They’ll be looking for more funding in 2015.

 

Nina Ulloa covers breaking news, tech, and more. Follow her on Twitter: @nine_u

20 Responses

  1. jw

    lol

    I love start-ups that try to gamify music discovery. lmao.

    Hey guys, here’s something pretty much no one wants to do: listen to a thousand shitty artist uploads on the off chance that one might be good. Ask any A&R how fun that is. And they actually get a salary, not just some shitty concert tickets.

    The entire premise of this site is totally backwards. Fans don’t want to sift through all of the bullshit to tell the start-up what’s good. They want the start-up to sift through the bullshit to tell THEM what’s good. This should be common sense. Here’s a little bit of free advice… if you have to “gamify” something, that pretty much means it’s something people wouldn’t otherwise do. In which case it’s probably not a great idea for a start-up.

    Also, I just really love reading the phrase “key industry players” in explainer copy. lmao.

    Reply
    • pwoods

      Your comment stinks of immaturity. I personally don’t want any site telling me who’s good and who’s not. Because chances are, most people are not going to like an artist simply based on a recommendation. If a friend tells me about a certain artist that’s good, then fine – chances are they know my personal tastes. But to have a website make choices about quality control for me, is unsettling. It’s like amazon making suggestions for me, and they are not accurate. That’s a joke. I want to take my time to find something that I like, because I could miss something great. and many times great music goes unheard, and is not recommended.

      Reply
  2. Miguel Leite

    Hi JW,

    My name is Miguel and I’m the CMO of Tradiio.

    There’s some misunderstandings in your comment and I will be very glad to have a further explanation on Tradiio. If you like to, please send me an email to marketing @ tradiio dot com.

    This is not an untested idea or a new startup. It’s a platform that in 3 months of first beta version got thousands of users and some of them playing for more than 7 hours in a row.

    As for the artists side, we also validated the appeal of this concept and most of them are really good and are now signing new deals and having opportunities near those key industry players.

    Cheers,

    Miguel

    Reply
    • jw

      Miguel,

      I appreciate the reply, but some of the language confuses me.

      >> As for the artists side, we also validated the appeal of this
      >> concept and most of them are really good and are now
      >> signing new deals and having opportunities near those key
      >> industry players.

      What does this mean? Signing what deals? And what is an “opportunity near [a] key industry player?” That’s so vague. I would love to hear a specific success story.

      Also, what are the mechanisms you guys have in place to keep the quality of the artist uploads high, so that users aren’t asked to just blindly trudge through mediocrity (especially in the case that the service scales)? I mean, I would theoretically be a prime candidate for this type of service… I listen to more new music than anyone I know. But it always comes from a social media recommendation, a trusted review, a recommendation from another artist, a conversation with a promotor or a&r or dj or blogger or… something… nearly anything but just blindly sifting through aspiring artists.

      If I mean, maybe I’m misunderstanding the concept, but without any quality control mechanisms, this seems like a perfect microcosm of the entire recorded music industry, fraught with all of the same problems artists & consumers experience on, say… Twitter or Facebook or any other service where artists exist & there is no quality control.

      Reply
      • Miguel Leite

        Hi JW

        Thanks for the answer.

        The key here is to work with people that is directly involved in the music industry and that knows exactly how things work and how to get good emerging artists and partners.

        So we have several topics.

        – Value of proposition to artists:

        Working a real network of labels, A&R, promoters, bloggers that permits us to give back something really good to the artists. Of course we have success stories, or else we would’t be here. I prefer to share it with you by email.

        – Quality of songs

        Artists enter on Tradiio mainly in one of these four ways:

        Organically
        Digital marketing
        Direct contact with labels and artists
        Partnerships

        Direct contact and partnerships are key to guarantee quality. Once we have a good DB of artists, we leave it to the crowd to decide.

        Crowdsourcing here is important, as you may know, stock markets are one of the best ways to make new quality content emerge because they are the perfect way of crowdsource. We know this because we’ve been working with this technology for more than 8 years. With Facebook, or Twitter, the things you do are infinite. You can like 1 million bands. But when you need to invest, to decide, to think about what you’re hearing, now it changes. And when you have thousands doing it, you make quality content emerge. And yes, there are millions of listeners that like to take part on what they hear. That’s way “Play Your Part” is so key to us.

        – Industry players

        As for this, yes, again, key industry players. Real partners, real labels, magazines, digital platforms, etc. You know them all and they are key to give the right opportunities to bands. Again, I know you need a success case, give a me a shout by email about this. You or everyone that’s interested.

        MOST IMPORTANT

        You can’t believe that everything is done already. Ok, there are more than 20 Tinders of Music. Ok there are thousands of Discovery Platforms. But is there a real solution for small and medium artists? Do you see it?

        10% of artists get all the money. 1% get the big money. And the rest? How do you solve this? Do you want to be still and quiet and believe that there’s no solution?

        Again, I don’t want to extend too much this conversation here but I would gladly talk with you. Give me a shout if you want.

        Cheers

        Reply
      • TruthForYOU

        Haha ‘JW’. A man chooses, a slave obeys

        You can’t even discover your own music and have to go on others recommendations ALL THE TIME.

        LOL 4 the kids!

        Reply
    • Anonymous

      Hey Miguel,

      Didn’t Tastemaker X already try to do this, fail and have to pivot and relaunch?

      Reply
      • Miguel Leite

        Hi,

        Yes, Tastemaker X already tried to do something compared to stock markets, but I believe with all kinds of artists, which could have not been easy with all the rights questions you all know about. They then pivoted and relaunched with a different idea. I don’t know the causes of this pivoting.

        But you know… man tried to land on the moon several times before 69. 😉

        And Tradiio, of course, has a different model and a specific dynamic you will all, I hope, see and test in beta.

        Cheers!

        Reply
        • Anonymous

          How will you weed out fake user accounts and click farms?

          If there are tangible rewards tied to the virtual currency, it seems like a space ripe for some hacks.

          Reply
          • Miguel Leite

            Hi,

            So, basically, in two ways

            1. Game dynamics: a new account has few options of investment
            2. Our patented market technology has tools to control speculation that were tested on the last years

            Thanks,

            Miguel

  3. Piper

    genious!

    i get how some people would rather have someone chose the music for them, but those days are ending.
    i’m sick of hearing the same bullshit (even on indie radio, anything’s hardly new!)

    kudos tradiio!

    Reply
  4. Tiago

    Nice!!
    Curious to see how ir works out!

    Always a pleasure to discover another way to get to know music

    Reply
  5. artist

    Not sure. You got teenagers ranking higher than established artist. Im not knocking it but I’m just not feeling it. Indie artist spend 10s of thousands of dollars on promoting their own brand so the rewards, if they don’t include promotion early on, aren’t really worth my personal time. Just being real. Im ok with teenagers or people with different taste not liking what i do but its a mature of how you value yourself in my opinion. Just seems like artist do a lot of work, over saturated market or not, to have our stuff appropriated by other brands and labels,, with only a very few at the u pper end getting a good ROI. Ill keep watching and keeping up with it to see how it goes.

    Reply
  6. anti-scammer spam

    this is a scam. you have shown NO names of these alleged “key artists” who are “near” lol… that one cracks me up. Also, you spam anyone you can with unwanted emails. This business model seems will fail like so many before it. Stop spamming me!

    Reply

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