Hey plebs, wanted to let you know where I'm at with my value for value release. It's nearly been a month and I've been blown away with the generosity and engagement from this community, so thank you all for the donations! I've run the numbers, they are humble, but prove a point. That lightning is the best payments technology we have ever seen and can offer much needed hope to artists trying to monetise their content online! I want to open source the data from my voltage node 'open the sauce', and let people know how this compares to current conventional streaming models for music.
Since throwing up the lightning tip jar on my site, I have made nearly £80 (roughly 440,000 sats). To compare this to a streaming service like Spotify, where for every 250 streams you earn about £1. This is based on £0.004 per stream (https://songlifty.com/how-many-spotify-streams-do-you-need-to-make-1/ )
So to make the £80 I have made this first month, I would have needed 20,000 streams. To put this into perspective, I have had cumulatively over the 5 years of being on Spotify only around 8000 streams, which should have made me just £32 ( I haven't seen it...). So that means this value for value release has made me 2.5x the revenue in 4 weeks as I've made on Spoitfy in 5 years... Or across the same 4 week time frame 160x more...!
The money we're talking about isn't much but I think you'll agree that the stats speak for themselves.
Do you all think it's a good idea to open source the data on twitter? I was thinking of releasing information like; total amount, largest donation, smallest donation, average tx size...
Is there any other info you think would be relevant that I could include?
Also, I have approached some music podcasts with this topic but haven't recieved any interest so far... Was thinking it would be cool to try and bridge the music world with lightning and V4V but maybe we're too early. When I tweet this post out next Monday, it would be great if ya'll could share this info far and wide (@joemartinmusic) and if you still haven't heard the song yet, you can find it at https://www.joemartinmusic.com/highgravity
Thanks for your support and continued engagment. There's much more to come ⚡️⚡️⚡️