In a dark basement of a private members club in London, two bands are setting up for a gig. Both are there after being discovered on a start-up streaming app.
The platform, called Tradiio, works like a stock market where users can invest virtual currencies in upcoming artists that they like. The musicians are ranked on a table, and if they move up the rankings, investors can take profits and use that money to buy real goods such as festival tickets.
British artist Mitch Stevens - aka Cholombian - uploaded his music to Tradiio in the hope of being discovered.
"I've had a lot more interest from people that I wouldn't have normally reached, which in itself is probably a bit more valuable than any record label could ever hand you," Stevens, who is one of the top artists being invested in on Tradiio, told CNBC.