Imusify: Blockchain Based Decentralization of Music Platform

binar667 (7)in #imusifi • 6 years ago (edited)

The use of digitization of music technology was the beginning of monetizing the content. And while the music industry was originally created as a centralized system of physical distribution (in 1970 there was no Internet and record labels themselves distributed actual recordings). Such a system is outdated and no longer suitable for the modern digital world, because its use creates many problems.

Imusify platform for blockchain encourage decentralization of music. Imusify is created to serve a variety of stockholders and players across the music value chain, consisting crowdsourcing, cooperation, production, allocation, promotion, curation, live events and more. It is a scalable and adjustable platform for artists, music FANS’, entrepreneurs and developers, to interact to the imusify society, to generate joint content and other newly use cases.

Imusify is a decentralized music economy and IMU tokens are used as the engine to support imusify’s multi-layered, decentralized music economy. This will create an immense potential value for the token’s use throughout imusify’s infiltration into the industry.

Through their smart reward and compensation system, IMU is either rewarded for contribution to the platform, or used as a currency for exchanging digital assets and services. By establishing trust and transparency between artists, supporters, fans, and industry service providers; the imusify ecosystem emerges.

Imusify uses a combination of innovative protocols and frameworks to facilitate direct peer-to-peer connection between artists, fans, and other stakeholders. The platform integrates the best practices of traditional crowdfunding, streaming, media sharing, economic and social networks. This way, imusify eliminates the need for existing intermediaries, resolving inefficiencies, providing transparency, and ensuring everybody is fairly rewarded for their contribution.

The Imusify project use cases include:

Artist crowdfunding,
Transparent artist royalty payments,
Incentivized content curation,
Open-source development and network collaboration.

The imusify site lists a team with just 8 core members. David Walters is the Chief Executive Officer and his profile suggests that he has 25 years of experience in the music industry. Chief Financial Officer is Dina Yedigeyeva, who is described as being an Entrepreneur in the fashion industry.

Nate Strang is the Chief Operating Officer and Jennie Legary takes on the role of Chief Marketing Officer. The other job titles in the team include Project Manager & Legal Advisor, Project Director, Chief Technology Officer, and Product Designer.

There are also a total of 12 Advisors listed. These include Blockchain Advisors Anders Larsson and Joakim Holmer, Technical Advisor Nikolaj Kuntner. Also included are several Music Industry Partners such as John Gado, Marcus Brown, and Wayne Rosso.

Additionally, Imusify platform launches ICO as it is the musical open source platform developed on the basis of NEO blockchain. Imusify launches ICO to integrate functions of the social networks, crowdfunding platforms, streaming services and also video hostings like Youtube and Vimeo.

There are two types of users on the Imusify: Artist and Customer. The creator shall be paid when his or her product is used at the expense of a blockchain after ICO where it is going to be executed instantly and without intermediaries. The Artist receives payment when the user listens to his or her song, comments posts, and customers get paid for gathering likes under comments and stories published. So both users and content creators own everything they produce without middle-men and transfer of rights.

ICO Information

Token Ticker: IMU
Platform: NEO
Type: NEP-5
Total Token Supply: 1,000,000,000 IMU
Token for Sale: 650,000,000 IMU
Acceptable currencies: NEO, BTC , ETH, LTC, XMR, BCH, DASH
PreICO price: 1 IMU = 0.044 USD
Price in ICO: 1 IMU = 0.05 USD
Soft cap: 1,000,000 USD
Hard cap: 25,000,000 USD (fiat)
Website: HERE
Whitepaper: HERE

Token distribution

20% - Private Sale
10% - Pre-sale
35% - Main Sale
8% - Company
8% - Incentive Pool
8% - Team and Advisers
8% - Strategic Partnership
2% - Contributor Reward
2% - Charity Program