Muzika Network- Transforming the Music World through Blockchain Closing the Gap Between Music Artists and Fans
About Muzika Network
Previous music blockchain projects have overlooked the importance of a large userbase to achieve widescale adoption. These projects have demonstrated that it is possible to give a higher commission rate to artists for their work using Smart Contract transactions. However, for artists, the low commission rate offered from traditional music streaming apps that had huge userbases were more attractive than blockchain apps using Smart Contract transactions. Case in point, a 10% commission of $1,000 from iTunes was preferable to 90% commission of $1 from a Smart Contract transaction.
Muzika aims to provide musicians the best of both worlds: a higher commission rate for their creative content and a strong userbase. Muzika has developed a strong system for incentivizing fans to contribute to the Muzika ecosystem. These incentives will build the userbase necessary for Muzika to provide both higher commissions to artists along with the mass userbase of traditional music streaming sites. The network effect from a mass userbase will be the key to developing an autonomous, self-sustaining ecosystem. In other words, Muzika can provide musicians with 90% of $1,000.
Muzika has already made significant achievements towards the development of sustainable solution to inefficiencies in the digital music industry. In 2015, co-founders of Muzika saw an opportunity in the online instrumental music industry and started online instrumental music platform Mapiacompany. In just over 3 years, Mapiacompany has become the #1 global instrumental music platform with over 2 million users. Muzika will build upon this existing userbase and community.
Musicians and fans are the real value creators in today’s music industry,
but they are not properly rewarded for their value creation.
Musicians are starving. Everyone listens to music, more people pay for music, but artists are still not making money.
Fans (that’s us) are still pigeonholed as consumers, though we are the ones who actually make super-stars! We devote our time and effort to vote, make cover songs, go viral, and even write fictions for our favorite artists, but no one rewards our effort and devotion.
Intermediaries (distributors and platforms) are making excessive profit for one time and unsophisticated tasks of 'transferring' the ready-made values.
Muzika will bring innovation to the value chain in digital music industry
We will reform how value is created and captured by various players within the industry. We will return rewards to those who create the value, from those who merely transfer the value, while recovering the share lost from digital piracy through blockchain technology.
WE ARE NOT STARTING FROM SCRATCH
MAPIACOMPANY, Global No. 1 Instrumental Music Platform
3+ Years of experience
150+ User nations
Muzika is built on 2 million active users
Unlike hundreds of ICOs without proof of practicality, Muzika is not starting from scratch. The token economy is strongly built on the backs of our existing, profit-generating, and privately & publicly funded business with 2,000,000 active users & subscribers from 150+ nations and artists from 30+ nations.
Through years of experience, we have learned the precise ways to build a community run by loyal and incentivized individuals: a key to success of any community-based blockchain projects.
Muzika will create an autonomous, self-sustaining ecosystem driven by artists and their fans in tandem, where compensations and rewards will become proportional to the level of devotion put into musical creations and ecosystem behind them.
Smart contract will allow digital musical products to be transferred directly from artists to fans, ensuring fairer and more transparent economic distribution.
Fans will be rewarded with loyalty points for their various community activities, which will be regularly converted into MZK coins - the sole medium of exchange for all economic activities in the ecosystem.
Fans will have opportunities to make direct sponsorship to their favorite artists, supporting them and receiving exclusive benefits in return.
The MZK Coin
Muzika coin(MZK) was deliberately designed as the backbone of this new ecosystem. The team has analyzed both successful and failed cryptocurrencies, past and present, and established a clear vision of what is necessary to make this project a success.
MZK will serve as the sole medium of exchange for all economic activity within the ecosystem including trades and sponsorship, all while assisting growth via a few free services targeted at community novices.
4 MAJOR FUNCTIONS
The Muzika ecosystem will contain all the functions and activities necessary to truly achieve self-sustainability.
These range from creative brainstorming, crowd-funding, exchange of feedback, and more.
Muzika will incorporate major features that have made players in the traditional digital music industry successful. We will provide community members with marketplaces for streaming, sheet music, instruments, and more.
Users may sponsor artists and become their patrons in various ways including regular subscriptions. As patrons, users can enjoy exclusive & sponsor-only products, services, and opportunities to be inolved in the creative process of a musical product.
The real bread and butter of the Muzika ecosystem will be the spirit of creativity. Community programs and events such as auditions, contests, crowd-funding drives, live-streaming events, and other such activities driven by member involvement will be a focal point of Muzika.
Total number of tokens: 1,000,000,000
Total number of tokens for sale: 205,000,000
% for sale: 20.5 %
Hard-cap: 20,000 ETH
Our revolutionary journey has just begun
February2017: Project conceptualized
July2017: Commencement of platform modeling
February2018: Tokenomics Structure Design Completed
April2018: Platform Testing Begins - Login protocol - IPFS tech. application
June2018: Platform Testing Completed - Realtime encoding/decoding - Testnet Operation
September ~ December2018: Testnet Prototype Launch Mainnet Prototype Launch Integration of MZK transaction system to the existing platforms
January2019: Phase 1 Service Launch - Consumption-oriented services
February2019: Phase 2 Service Launch - Production-oriented services
April2019: Phase 3 Service Launch - Official global launch of the full Version Muzika ecosystem
2020 ~ Reshaping the Global music industry
Co-founders are one of the youngest and most successful entrepreneurs in South Korea startup history, averagely aged at 22.
All of them were awarded Forbes 30 Under 30 Asia 2018.
Inseo Chung: CEO & Co-Founder
Serial Entrepreneur and Professional Pianist
2nd Place, National Student Music Competition
One of the earliest Ethereum miners in Korea
Sangmin Heo: CTO & Co-Founder
Computer Science, Hanyang University
Global Finalist, Intel Science and Engineering Fair(ISEF)
Sole Developer of 'The Bamboo Network'
Jangwon Lee: COO & Co-Founder
Business Adminstration, Seoul National University
Co-founder of Shadal Inc and Youthglobe Korea
Trilingual entrepreneur with key global networks
MEET OUR TEAM
Seungwon Kang: Blockchain Core Engineer
Computer Science, Hanyang University
ROK Military Network and IT Security Specialist
Chaehong Jeong: Blockchain Platform Engineer
Computer Science, Hanyang University
Multiple Awards in Algorithm PS Competitions
Jungwoo Lee: Head of Business Development
Certified Public Accountant, Korea (KICPA)
Business Administration, Seoul National University
William Wu: Head of Global PR
Professional in China & Cross-cultural Business Operations
Minkyung Lee: Brand & UX Designer
Visual Communication, AAA School of Advertising
Jihyun Kim: DevOps/Server Engineer
Hyunju Hwang: Frontend Developer
Kyunghee Chang: Frontend Developer
Jaechan Ahn: AI/ML Researcher & Server Developer
Sukyung Na: Head of Global Business
Yeji Chung: Head of Music Management
Seongheon Cho: Head of Compliance
Michael Cho: Non-executive Director of Kakao
Yoonwoo Lee: (EX) CEO & Vice Chairman of Samsung Electronics
Stella Kung: CMO of QTUM
JoonKee Hong: Non-executive Director of Kakao Bank
Inkyu Choi: Naver Venture Capital
Brian Lee: Managing Director, BlackHorse Group
Adrian Lai: Managing Director, BlackHorse Group
Sam Lang: (Ex) Rocket Internet MD
Jonathan Lee: Chief Corporate Officer of Yello Digital Marketing Group
Alyssa Tsai: Founder & CEO of PANONY
Myunsik Cho: Lawyer, Dongnyuk LLC
Kevin Yeung: Partner, Bitshine Group
JangYoon Kang: Associate at CDIB Capital
Allen Ng: CEO & Founder of Everest Ventures
Herbie Fu: Co-founder of T3 Labs / Asia Representative of Cryptic Labs
Dee Hu: Co-founder of T3 Labs / Global Partner at DoraHacks
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