Imusify - open source music platform

The idea

The idea Is an open source music platform based on the NEO blockchain, which aims to reform the music industry on a global level. The main obstacle to the formation of new artists and the increase in the number of new high-quality works, according to the team, is currently a centralized system, in the face of recording companies, production centers and ditributors, who receive the largest part of the rewards from the listener and are the owners of the rights to use.

The problem of "assessment" is particularly acute in the West. Elon Musk in his Twitter even cited the statistics of payment of fees to artists on the most popular music venues:

According to WP, Imusify wants to combine social networks like Facebook and Instagram, crowdfunding platforms like Kickstarter and Indiegogo, streaming services like SoundCloud and iTunes, as well as a platform for publishing video content — Youtube and Vimeo. A brief description of the project is also given in the company's blog:
https://medium.com/imusify/the-imusify-platform-introduction-9277a1085c1e

There are two types of users on the platform: Creator (Artist) and Consumer. The Creator needs to get paid for the use of their creations, and at the expense of the blockchain is implemented immediately and without intermediaries. The user receives payment for listening to his music by the consumer, for commenting under the posts, consumers themselves receive payment for likes of their comments and likes of the stories written by them. That is, not only content creators, but also its consumers get the return. And users own everything they create and do, without intermediaries and transfer of rights. More details will be explained in further blog articles.

Token symbol:IMU
Token: NEP-5
Token supply: 1,000,000,000
Soft cap: $1,000,000
Hard cap: $25,000,000
MVP: protocol
Competitors: Ujo, Mycelia, Voise
ICO start date: August 1, 2018
Launch: Q1 2019 Testnet, mainnet Q3 2019

With the help of IMU tokens, the user pays for listening and receives a reward for active participation in the development of the platform (reviews, discussions, voting), and musicians who upload their works pay for the use of their creations for commercial purposes. The system of distribution of rights (performer, composer, lyricist, session musician, etc.) and automatic deductions in accordance with these rights allows you to eliminate the intermediary in the person of the distributor or label and receive a reward for participation in the creation of songs directly from the listener in accordance with the established proportions for all participants in the process.

The ecosystem also has a crowdfunding component that allows you to run a collection to support the creation of any creative product, be it an album, an audiobook or a video in IMU tokens, which greatly simplifies the release of new creative works. Each user has a reputation that changes automatically depending on the actions performed on the Imusify platform. Reputation is controlled through on the blockchain NEO smartcontract.

Regarding copyright protection-the team did not disclose all the technological aspects, explaining that their ideas can be stolen by competitors, which is quite likely. All tehnoloski the team plans to open only after the implementation of the project.

Media

Site: https://imusify.com/
37.5 to visits, nearly 65% of direct referrals, 22% through links to third party sites, 15% from Australia, 12% from Italy, 10% from Thailand, etc.
Telegram https://t.me/imusifycommunity
FB https://www.facebook.com/imusify /
TW: https://twitter.com/imusify
Instagram: https://www.instagram.com/imusify /
Youtube: https://www.youtube.com/channel/UC2DRbbnO9OcFm6kNoWDEfcg
Reddit: https://www.reddit.com/r/imusify /
Medium: https://medium.com/imusify
Github: https://github.com/imusify

Team:

**Conclusions **

It is a Great idea to combine several functions that have already received distribution at the moment and fix them on the blockchain, linking content producers and consumers with their own crypto assets. It remains only to attract a large number of users to the platform, creating a turnover and movement of IMU tokens. Plus there are advisors from the right direction, the team-as a whole, overdrawn. There are clear data on registration and not offshore. Already have an MVP — a typical tactic of the Europeans: in fact the promotion of the finished product. And the idea of spotify on the blockchain definitely deserves attention.