Former Guns N’ Roses / Velvet Revolver drummer Matt Sorum has launched Artbit, a platform that will help artists get paid. It allows both artists and fans to share and monetize artistic talent around the world.

The website was created to help struggling artists who are sharing their talent with little to no monetary return. Artbit provides exposure and capital to independent artists, while protecting their intellectual property and giving them the tools needed to manage the business side of the industry.

Sorum’s own story of being a struggling musician inspired the creation of the platform. “Before I had any recognition as a musician, I was roaming back alleys in Hollywood, playing any gig I could get, sleeping on couches and surviving off Top Ramen,” he says. “Today, getting recognition is easier, but getting paid is even harder. With Artbit, we’re giving power back to the fans to tell the world who deserves attention, and we’re giving a platform to artists to turn their dreams into a paying reality.”

Artbit users will be able to put on live shows and perform while connecting with fans around the world, who can interact by liking, sharing these performances, while generating micro-income for the artist and the public. These virtual stages will allow artists to fund their passions through a crypto-economy, powered through Hashgraph, which helps create applications at no cost. Through augmented reality and gamification, both fans and performers will have a chance to be a part of the show.

Matt Sorum and the Artbit team will host an event in Austin, Texas on Friday during SXSW to showcase the platform. Renown contemporary street artist Shepard Fairey will DJ the event, which will culminate with a performance from Sorum and Billy Gibbons of ZZ Top.

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