Muzika will Organize Music Streaming around the Concept of Decentralization
Digital platforms in any industry carry unprecedented possibilities for innovation and growth. In resemblance to an ecosystem oriented structure, digital streaming platforms continue their efforts to generate a self-management system. Likewise, the digital distribution of music has been growing out of the centralized phenomenon exhibiting a constant trend towards connectivity within multiple peer-to-peer networks. Within such architectures, services can be easily represented in the form of modules to combine different elements from the core content layer.
A focal concern for digital music platforms is that connected to the service distribution from which they may profit. In response to this question, Muzika, a digital music ecosystem based in South Korea will create a marketplace for external service layer contributors, musicians, sponsors and end-users. To that end, the Muzika Coin will facilitate transactions between community members and can be used for sponsorships opportunities as well. Consumers will be provided with an opportunity to take part in all stages of product creation as long as they are token holders on Muzika.
Building platform capacities
Muzika Network has emerged from the previous business activities of Mapiacompany Inc. A similar loyalty program will be used as a key strategic mechanism for enhancing users activity and distributing content to different system components.
Loyalty points can be collected for uploading audio and video files, voting, letting comments and streaming music files, reporting illegal activities on the platform, etc. In short, such a model can be described as a network-centric one, which utterly corresponds to the P2P networking principles. This means that data will be transmitted in a continuous flow. Naturally, loyalty points can be converted into MZK tokens.
What items can be purchased on the platform?
Streaming services will be available through the Muzika Player. Key components of the Player will include downloading music to one device and streaming. Novice artists can start crowdfunding campaigns that include following stages: submitting audio or video files with their performance, creating promotional posts to obtain support for their special needs. Community members, in turn, can learn from promotional posts about musicians and their works as well as upvote any project or compositions they would get interested in. In terms of the revenue distribution, community members will be provided with financial reports on musician's performance. All songs and albums will be stored in corresponding blockchain accounts. Fans can sponsor artists' development through the participation in fundraising campaigns. With regards to the value of the individual contribution, users participation is becoming central to the Muzika's strategy.
Token Sale Plan
Public Sale will begin on November 15 and close on December 15, 2018. During the ICO, a targeted Soft Cap of 5.000 ETH should be achieved, Hard Cap is set at 20.000 ETH.
In the model proposed, Muzika ties music to the network, which is supported exclusively by the community. In effect, the profit from the platform will strongly correlate with the level of the users participation. While music streaming will be available to anyone who is a registered user on the platform, music creation remains a concern.
On the one hand, the increased use of mobile applications could encourage the practice of the blockchain-driven services. On the other hand, particularly with regards to music streaming, such services still revolves around centralized systems since decentralized services reinforce dependence on tokenized economics.
Further development plans include applying Muzika's strategy to film and photography creations within the same system or while designing additional interface for the industries in question.
Links:
Website: https://www.muzika.network
WhitePaper: https://bit.ly/2O3wA11
Telegram: https://t.me/muzika_english
Facebook: https://www.facebook.com/muzikanews/
Twitter: https://twitter.com/muzika_official
Medium: https://medium.com/muzika-official
ANN: https://bitcointalk.org/index.php?topic=5042121.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.