Fortune asks: do stockbrokers have an edge in discovering
the next Lady Gaga? Probably not. But Marc Ruxin and Sandro Pugliese,
co-founders of the social game TastemakerX, want to make finding the next hit
artist look more like the New York Stock Exchange. The game, which allows
players to unearth and support new bands, officially launched on Thursday,
after months in beta mode.
Founded in 2011, the idea is for users to discover new bands
by buying and selling an artist's "stock," which rises and falls
depending on factors that include who's been buying it and the amount of buzz
an artist is getting on and offline. Players get rich by earning
"notes," the game's form of currency. In the real world, this
translates to bragging rights: being the first to spot an unknown band before
they're blowing up the airwaves. The pool of over 95,000 musical artists in the
game have passed through the software's "IPO" algorithm, which
determines a "stock's" initial pricing based on metrics like number
of plays on Last.fm -- another music discovery service -- and Facebook
"likes…."
Read all about it at http://tech.fortune.cnn.com/2012/06/14/tastemakerx/?iid=SF_F_LN
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