Imusify- The smart music economy
Introduction
The music industry has been doing their best up until now in order to create structures that will both collect and distribute funds that belong to right holders and content creators. Since most of these systems were created a long time ago and they haven't been updated, it gave way for monopolies which benefited all except for the rights holders and content creators. A small percentage is given to the content creators from the fraction of money that is actually collected. In order to decentralize the monopoly in existence, Napster was created but it later lead to more harm than good even though it started because it started uncontrolled. What the world needs to stop another opinion with a strategic approach in order to ensure that those who deserve the money is given.
The Problem Facing the Music Industry
The Music Industry has been transformed in this digital age. The adoption of the internet has lead to the wide distribution of copies of digital contents and also the Creation of such copies cost less now. Before the internet came into existence, it was not easy to get songs but with just a click in this era, you can get any song you want and most people prefer streaming over downloading. The rise in streaming services and access and the nature has lead to problems in regards to payment transparency, digital rights management and monetization of content. Due to this, even though their music are enjoyed by most people, they are not compensated accordingly. The global market for digital music is 12 billion dollars and it requires a new solution in which listeners get access, musicians are paid and labels also get a faithful deal. That's why the Imusify platform is in place.
The Imusify Platform
David Walters is the founder and CEO of Imusify. The imusify platform is proposing a solution to all these problems by integrating the proper service and practices for Crowdfunding, media sharing, streaming and social networks in order to create an ecosystem in which fans, music professionals and artists can interact on a decentralized market system. The technology in place can track the flow of content and smart contracts also pave way to ensure a fair payment system and ensure that the distribution of payment is done immediately. A Digital identity tracker is used to prevent fraud and content is reviewed automatically in order to determine the copyright ownership.
Imusify make use of the NEO platform to establish itself in the apex of smart music platform in the music economy. Music users with digital music-related personalities can make use of the imusify platform to release content, experiences, and cryptocurrency projects to protect their creative work within the imusify platform. Smart contracts allow digital transaction 5o be identified easily and create an avenue for easy transaction processing in a reliable way.
The imusify platform will address the shortcomings of the Music Industry and will surpass the restrictions of the blockchain technology with the help of new technologies. This will benefit big labels, users and it has a functional prototype.
The Function Of The Imusify Foundation
Below are some key players in the imusify foundation, they include;
- The Player: These are users who can download songs, pod-cast and talk books among content that can be distributed within the imusify platform and also distributed outside the platform.
The Curators: These are users who can vote for content in the imusify platform, they are there to ensure good preservation of thecontent in the platform and also ensure that bad content are removed from the platform. The users are given yhe Imusify (IMU) token as they register or join the platform, ensuring that the content provided by Imusify is of a high standard and very good quality.
- Create a Channel: Its an avenue for imusify users to create their own channel in the imusify platform, as well as giving them the room to create playlists based on their choices, which could be different themes and tags. Users on the imusify platform are also given the opportunity to invite others, both from the platform and from outside the platform, to use e-mail so that only invited users/participants will have access to the created channel.
The IMU Token
The IMU(ϑ) Token is NEP5 official or standard token which is powered by NEO and it is a cryptographic token which allows users of the imusify platform to transact with each other, interact with the platform and utilize its services. IMU will serve as a support mechanism for all the functions needed in the imusify hierarchical music economy. And with that the IMU token will have lots of value and an increment in the need of the IMU token will increase exponentially, making the IMU token the only source of transactions when Imusify's penetrates the music industry.
Use Cases for the IMU Token
- The specific use cases for the IMU token includes:
- The purchase of license content.
- It provides payment of rewards on a per stream basis to artists
- For exchange of value between Creators and service providers
- Rewards the users for contributing to and creating content.
- Also, for the Crowdfund of artist content projects.
Token Distribution
In an effort to maintain the value of the Imusify platform for a long time, the total supply of IMU tokens will be 1,000,000,000.
The main sale is 350.000
Strategic partnerships 80.000.000
Private sale 200.000.000
Team and advisors 80.000.000
Company 80.000.000
Contributors rewards 15.000.000
Pre Sale 100.000.000
Ecosystem 800.000.000
Charity program 15.000.000
Conclusion
The Imusify platform will serve the needs of the Music Industry. It will develop and interactive platform in which users, labels and musicians can interact with each other. Users will be able to connect and share experiences with other Imusify users. It will also ensure a fair payment system in which everybody will benefit. The platform will also revolutionise the old system of doing things by bring about transparency with an efficient platform to the music lovers and to the world at large.
For more information, kindly click on the links below;
Website: https://imusify.com
Whitepaper: https://imusify.com/whitepaper.pdf
Telegram Group: https://t.me/imusifycommunity
Twitter: https://twitter.com/imusify?lang=en
Facebook: https://www.facebook.com/imusify/
ANN: https://bitcointalk.org/index.php?topic=4327428.0
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