TRADIIO: ‘Invest’ In Your Favorite Artists. Literally.

Are you a music-lover? Do you like discovering new musicians? Do you support the emerging musicians that you love? We’ve got something for you!

When it’s becoming increasingly easy to access music, it’s equally difficult to discover music you love. Today on OK, Intrnt we speak to Harry Willis, Marketing Manager at Tradiio – an app where you can actually make a difference to your favorite artists’ life and career by showing your support by “investing” your virtual currency through a trading desk. Let’s hear more.

What is Tradiio?

Tradiio is a reward based music discovery platform. It’s a first of its kind and our aim is to help artists. We believe that there’s never been an easier time to put you content online and put yourself out there but there’s also never been a harder time to make noise. To emerging artists, we’re looking to provide the opportunities that are so difficult to get in other avenues.

How does it work?

Users, when they log on to the platform are given a certain amount of virtual currency, which is completely free. They’re given 4000 coins to invest in artists who they believe in the most. The artists who get the most investment, rise up the Tradiio charts. If you can get to the top by using your fanbase, getting them to invest in you, getting them to support you, we reward the top 20 artists with various things to boost their careers.

For example, we have a studio partnership with Miloco Studios. We put someone in the studio each month for a day with an engineer. Then we have a partnership with Radar Music Videos where we fund £500 music videos for emerging artists each month. We are also setting up our own label to release some of the top performing artists. The main thing we’re building up towards is – we’re going to be at Field Day next weekend and that’s going to be the first festival stage to be curated by app users. That is something we’re really proud of at the moment – giving music fans to be more than just passive users, actually having the chance to really support the artists that you believe in the most.

All of the artists on our stage on Field Day have got there through their fanbase helping them to get there. The connection between artists and fans is really what we’re trying to build to provide a platform to the artists who deserve.

When did you start?

The three founders are Portuguese – Miguel Leite, André Moniz and Alvaro Gomez. André Moniz is the founder of a bunch of successful startups, Miguel Leiti was a label manager with Universal Music Portugal and Alvaro Gomez was a strategic consultant for major brands. They first got together about a year and half ago. They launched in Portugal and had massive success in Portugal. After that we decided to launch the UK team. We launched in March 2015 in the UK and we’ve been growing strong ever since then.

How do the rankings and rewards work?

All the music on Tradiio is segregated and arranged by particular tags and genres. The tags are used for searching and there are bands across genres. There’s a chart for each genre and there’s a global chart and a UK chart. We give the rewards to the top 20 in the UK, across all genres. The Portuguese team does the same within Portugal. There are a few rewards that overlap into the international space.

On the user side is their Tradiio market. Users are investing their “money” in the artists they believe in and if they’re making savvy investments by picking the right artists who then get more success and more investment, they can earn enough points to then start spending them on real life rewards. We have AIAI headphones, Sonos portable speakers, tickets to Field Day. That’s the kind of prizes on the user-side as an  incentive for them to support these emerging artists.

What are the kind of bands that have benefited from Tradiio?

Most of the rewards are being organized as we speak. We’ve got a lot of bands in the studio and we’re about to do our first few releases. There’s a band called More Than Most that came out of Tradiio. One example is an artist called Cholombian who is playing at Field Day. He came through the platform and he received a warm welcome from the community. He got a lot of investment. We then booked him to play at our launch party as he’d done so well. We booked him to play at Field Day. We also shot a video with him. Due to the Field Day booking we’re trying to give everyone as much video content as possible. We have our in-house video guy so we can document all of the rewards we’re giving out. It’s gonna be cool to watch these artists take the stage on Field Day.

Amazing. So this is more like a crowdsourced X-Factor with better music! Eventually who pays for this? Are the rewards funded by your partners?

Most of the rewards are done for free – but on a case by case basis. We provide them complete support – social media support, integration in our campaigns and newsletters. In return, they give out these rewards to send out to people. That’s how we’re running at the moment.

When things get going further, the intention is to sell the virtual currency. As the prizes maintain themselves as being worth real money, as being really sought after prizes, people can commit far more effectively to their bands by buying a particular amount of virtual currency.

You’re also looking at having your own record label. So that should be an interesting avenue as well.

Yes, we’re just setting up right now – Tradiio Recordings. We’ve got our first two releases that would be coming out sometime in June. Because Tradiio is completely non genre-specific, we’re going to have a really nice diverse spectrum of artists.

For people who are new to Tradiio or people who want to join Tradiio, what tips would you have for them to be able to use Tradiio better?

I would say, really get to grips with the mechanics of the platform. The more time you spend on Tradiio, the more you’re gonna be able to work out how the mechanics work and how you can help artists and get yourself some cool rewards.

The way that coin mechanic works is that there’s also challenges and missions. On a day-to-day basis, we’re changing these missions. For example, “discover four reggae songs”. So it guides you through the music discovery practice. These are really great ways of engaging with the platform and discovering areas of music that you might never have come across otherwise.

What’s the next big thing for Tradiio?

The plan is to expand to the US after the UK.

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As part of OK, Intrnt’s efforts to connect people, we asked Harry if he would like to speak to some of our readers directly and he happily agreed! Write to us and we will get back to you and tell you how you can reach him!

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Category: Game Changers