Musician Imogen Heap, winner of a Grammy Award, is working on developing Mycelia, her blockchain project. With the help of Mycelia, artists store their songs and they can easily track the payments. Heap is financing her blockchain project with funds obtained from the Harry Potter musical. At the time, the artist sold a song for Ethereum.

Imogen Heap recently participated at MoneyConf in Dublin to speak about Mycelia. Her plan is to conceive a blockchain-app where artists can store information about their songs. “There are many ways to do it, but for me, it’s important to be in this space because it’s a growing space and the music industry has to move with the times and I just want to make sure that we’re here and prepared — the music-makers are prepared“, Heap told Business Insider.

Ethereum for blockchain project

 

Initially, Heap hoped to finish this project in three years, but now she is working on finishing the app by September. The singer is self-funding the project and says she has benefitted from her work on the Harry Potter musical. Once the app launches, Heap plans to do a world tour to promote it. Apart business conferences, Heap will do 40 shows. 

She said: “I didn’t expect to be able to develop a thing — I didn’t want to, to be honest, I just wanted to make music. I thought if I could just share an idea maybe someone would make something but, in the end, nobody was doing this thing.”

In 2015, Heap launched the song Tiny Human on the Ethereum blockchain and people could download it paying in Ethereum for it. “People paid $1, or 1 Ethereum, which was equal to $1 at the time,” she said. “That was $200. I didn’t think anything of it and then, of course, it went massively up, and I took a bit out and put it into the project, and then it went massively down. It went up to £200,000.”

Ethereum reached a peak of over $1,200 per coin in early January before declining in line with the wider cryptocurrency market. Ethereum is trading at around $480 as of June 14.