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