Potentiam: The Decentralized Platform For Music And New Talent Discovery

INTRODUCTION

The music industry is undoubtedly one of the biggest entertainment platform and generates huge revenues of about $30b annually.

Unfortunately, the bulk of the generated revenue, about 85-90%, is paid to middlemen leaving paltry sums to the artists who worked hard to make the song happen. This has been the modus operandi in the industry owing to the centralized structure and the fact that these middlemen are positioned such that without them, the artist may not see the light of the day, figuratively. As sad as it sounds, most artists are resigned to their fate, with the worst hit being the new and up-coming ones who’ll do almost anything to make it big in the industry.

Now, with the advent of the blockchain technology and its ability to decentralize, there’s yet hope for young artists and content providers in the music world. A decentralized platform will completely eliminate the middleman and make the direct connection of artist and audience, possible. This way, the artist will get more profit for his work and pay just a token to get to limelight.

THE PROBLEM
For ages, record labels and related subsidiaries have been feeding fat on the sweat of artists, making them do all the work and getting paid peanuts for their efforts. This is because, these record labels act as middlemen connecting the artists to their target audience by giving them publicity. Also, these middlemen get to decide which artist to publicise and which to leave behind, depending on how well the artist dance to their tune. This means that most times, young, up-coming artists are not even given the chance to showcase their talent, if they fail to agree to the unfair terms given by the record labels. And what’s more, these record label outfits are few, thus run a monopoly on the industry.

THE SOLUTION
A decentralized platform with a smart, self-executing digital contract that directly links the artist and the audience is the solution. This makes it infinitely easier for the up-coming artist to get published at minimal cost and also earning more for his efforts. This will make the record label redundant and open up the music industry so more interested parties can participate.

THE POTENTIAM PLATFORM
Potentiam is a decentralized music platform built on the blockchain technology for the artist, content provider and virtually all stakeholders in the music industry. It’s a social network that allows performers and composers access to own and control accounts for advertising their talents and searching out like-minds for collaboration and information sharing.

Potentiam has a catalogue management suite for artists so they can manage associated copyrights and content created in or outside the Potentiam Core. Potentiam Core consists of 4 distribution modules – Sync Licensing, Digital Sales, Physical Sales and P.R.O or Broadcast Royalties. Performers can also be connected to promoters via the live performance module, which is also part of the Potentiam Core.

POTENTIAM TOKEN PTM
Potentiam token PTM is the digital currency of the Potentiam platform and will be the exchange medium for all transactions on the platform. Since the platform bypasses the middlemen, PTM holders will be able to directly participate and benefit from the music industry as they can stake their tokens to earn special privileges and rights in the Potentiam Vault which is 50% of generated platform fees.
PTM tokens has limited supply owing to the staking and will always have increased value since the Global Independent artists market is huge. As a PTM holder, one can participate in crowdfunding music projects and also earn from the proceeds.

TEAM
The founders of this great project are veterans in the music industry and between them and the rest of the team, they have about 75 years of hands-on experience in the industry. In 2016, the founders established a music publication called Britznbeatz aimed at discovering and promoting new talents in the industry. The team of 8 is led by Marcus O Adetola, CEO and founder of Britznbeatz.

The advisory team is unparalleled with 4 Grammy nominations and 4 billboard top 100 produced songs, bringing to the table, experience and expertise.

CONCLUSION
Potentiam platform currently have 5000+ independent artist on boarded from across the globe for its private alpha test run. The Beta release is slated for the 4th quarter of 2018 while the token sales are currently rounding up with huge successes and exchange listings in the offing.

For more information, go there the Potentiam website
https://www.potentiam.io/

Or take a look at their whitepaper
herehttps://docs.wixstatic.com/ugd/73bd45_f697131e1a594059b7e644473e9ea2fa.pdf

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