MUZIKA - Blockchain Based Music Ecosystem
The Music industry is a huge part of any person's life, because it has been set at the centre of our culture. Three things are clear about today’s music industry: The consumption of music is expanding at the greatest rate in history and from the most portals ever imagined, the cost of producing music is decreasing, and the number of artists creating and seeking to expose their work and develop careers through the Internet has increased dramatically. As demand grows and Internet piracy wanes, ad-supported and subscription models will generate unprecedented revenues that will surpass even the best of past earnings. And, many astute predict a steep rise in business activity and trade earnings by the end of the decade. Here is the deal, i will be introducing you to a visionary project that come to life in the form of ICO's which is Muzika and they are set to revolutionize the music industry by establishing an independent and true digital music ecosystem that would eliminate unnecessary intermediaries, empower musicians and consumers, decentralize distribution power, and restore the balance of economic distribution among market participants.
Muzika is a music blockchain project, which has been built on an existing business and global music platforms with millions of users and fans across hundreds of nations, plus music artists from the globe, we aim at revolutionizing the digital music industry with the creation of a new digital music ecosystem. Muzika project is led by Forbes-awarded & Informatics Olympiad team members and endorsed by some of the most influential investors in South Korea and Asia. The token economy will be backed up by ever-growing population of community users and fans.
Muzika aims to lessen or remove profits from distributor, producers, and platform that will make music artist to gain more profits. Muzika is a free to use platform for music artist, “free” means no commissions or profit will be deducted from musicians that’s why musicians will get 90% of the profit using Muzika. Unlike other ICO’s they will start with proven service just they will improve it the platform behind Muzika is Mapiacompany Inc. the biggest and first online piano music platform in South Korea with more than two million users. It’s a good start since forty percent of South Korean’s are music streaming subscriber, highest among all nation.
PROBLEMS MUZIKA SEEKS TO SOLVE
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.
THE UNIQUENESS OF MUZIKA
Previous Attempts Failed to Secure Large Userbase: 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 Will Create A New Economy To Incentivize The Users: 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.
We Have Done It Before: 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.
How Muzika will revolutionize the music industry :
Muzika builds an ecosystem which is driven by artists and their fans who are rewarded for the level of dedication and devotion put into music creation and consumption.
For Fans :
Fans will be rewarded for their various community activities (e.g. share, like) with loyalty points, which will be converted into MZK coins. Fans can use MZK coins to sponsor their favorite artists, supporting them and in return receive exclusive benefits like can enjoy exclusive & sponsor-only products, services, and opportunities to experience day-in-life-of their favorite artist and be involved in the creative process of a musical product.
For Artist :
Unlike social media platforms like facebook following, user base in Muzika will not only work in community activities (like comment or share) but will also have a chance to sponsor their favorite artist.
Muzika ecosystem will also include production support to create music album making it possible to make music without having to sign with a record label. The large user base and integration with popular platforms like Mapia company will help the larger consumption of artist content and get rewarded highly for their creativity.
In addition, Muzika platform will offer community programs and events such as auditions, contests, live-streaming events which will help the new artist to get established and make their name.
Independence. After the final creation of the platform for all users comments, reviews, analytics and reviews will be available.
On the platform, the market for musical instruments and services will be available to users.
Each user can invest in a musician whom they like to listen to, and as a reward for their sponsorship, they will be given some advantages on the platform that will be available only to sponsors.
Competition programs for performers. Muzika platform developers plan to encourage a large number of performers to participate in these competitions, so talented artists will be found.
Live broadcasts of concerts.
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.
Token Sale and ICO Details
MZK is an ERC20 token built on top of both the Ethereum and Ontology blockchain network. However, in the future, Muzika plans to develops its own protocol blockchain specialized for community-based applications that facilitate all digitized forms of creative works.
Main sales: 205 million MZK
Total will be released: 1,000,000,000 MZK
Hard cap: 20,000 ETH
The MZK token is used to gain access to the Muzika ecosystem. It serves 4 main functions:
MZK tokens are used as an incentive mechanism to foster greater participation amongst community members. Members earn MZK tokens for creative brainstorming, exchange of feedback, and more.
Means of making transactions for commercial items and services: Ecosystem participants can exchange digital music, sheet music, musical instruments, recording services, and much more using MZK tokens.
Users can sponsor artists and become patrons by paying monthly subscriptions to their content using MZK tokens. Patrons will receive exclusive access to the products and services offered by the artist. They will also get to be more involved in the creative process of the music.
MZK tokens will also help fund community programs and events like auditions, contests, live streaming sessions, etc. All of these activities help strengthen the Muzika network.
MZK tokens can be obtained by participating in Muzika’s upcoming ICO, or by purchasing the token on cryptocurrency exchanges. They can also be mined through active, loyal participation in the community.
For more information, please visit the links i have provided below;
Telegram channel: https://t.me/muzika_english
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409