The world of online music just got a bit more interesting: Amiestreet, a music buying site where prices are determined by changing demand, just closed a Series A financing round led by Amazon.com.Joining Amiestreet is free, and songs start off free as well, though the more popular a song becomes the faster its price will increase (capping off at $.98 per song). Music mavens have the upper hand in this market, those with a keen ear for burgeoning talent paying the lowest prices and, if they develop a following in the Amiestreet community, having the power to popularize a song or artist with their written recommendations.
We reported on TableXchange last week, a site where people can buy and sell hard-to-get reservations at restaurants. In theory, these (almost) free market schemes seem promising – watch this space to see how they develop.
[via Springwise]
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