Imusify - patented authorship and promotion of music tracks without third parties
In the modern world, it is not easy for a novice artist to access the big stage. In addition to talent, you should have an initial capital for a start-up to pay for the services of producers, record companies, the inclusion of songs on the radio, and so on. These expenses are not always justified. In the case of the success of an artist and access to the big stage, media campaigns take a significant part of their profits. Nowadays, it is difficult for an artist to become independent, as in general the society trusts the reputation of a producer. Thus, the existing traditional way in the music market is filled with bureaucracy, and assumes the existence of connections and money for the development of the artist's potential. The decentralized Imusify project offers users around the world a platform to host their audio recordings and video clips, thereby developing the music industry at the global level.
Key features of Imusify
Work on Imusify unites two types of users within its server - authors of compositions and people in need of author's music. The directions of use for the latter can be completely different – for example, the search for a unique soundtrack to a film or an ad unit. Imusify platform offers performers and composers to post their creations in order to generate profit without involving third parties. A user receives copyrights for all posted creations. Thus, providing interaction between track creators and managers of various objects, Imusify allows authors to profitably sell their creations, and managers to buy them for a reasonable price. Working without intermediaries is beneficial for the price of the composition for both sides.
The idea of project development appeared in the middle of this year and, despite the existence of the project in the initial stage of its development, Imusify platform has already attracted public attention. The project creators plan to invest funds collected during the ICO into current expenses, the technical development of the platform, and the marketing campaign in equal shares.
Advantages of Imusify
First of all, Imusify exists as a decentralized platform (web and mobile applications) that allows its users to safely connect, collaborate and share experiences with other Imusify users.
Imusify is based on blockchain technology, which is currently the most transparent and safe system for operational process. Artists will be able to control the demand for their creations and communicate directly with fans. Having a decentralized database of their works, artists get an opportunity to earn on them. Even unknown musicians will have access to the global music market, where they can sell their work licenses (for example, for the use in commercial video, films, TV shows).
The work of Imusify platform is aimed at protecting the copyright of an artist. Now an artist who issues own product has all copyrights to it. The license is generated automatically thanks to API technology. Thus, after posting his/her creation on the platform, an artist has rights to it and all manipulations with it can be conducted only with the consent of an author. Imusify reliably protects creations from unauthorized downloading - before making payment for using, a customer can only listen to a song, leave a comment or a rating.
In the event that more than one author has worked on the project, the copyright holder of the composition assigns a share of authorship to his/her co-authors. Each new composition generates revenue through streaming and synchronization that will be distributed proportionally among the authors.
Work on the platform involves passing SCC registration. It is necessary to identify a user in order to assign him/her the copyright. After successful registration, a user gets access to all the platform tools - placement of video and audio tracks. If desired, he/she can fill out profile with photos and personal history.
In addition to rewarding authors for creating content (music), Imusify reward system is designed to stimulate a qualitative contribution to the development of the platform, rewarding the creators of social content (messages, playlists, comments) for certain actions. Imusify is also designed to promote the sustainability of its ecosystem and motivate other active participants to promote new authors by obtaining rewards in platform tokens.
Imusify platform uses custom characters to categorize user interaction and, accordingly, their remuneration. New persons are created either automatically when a user performs a certain action or voluntarily creates a new character for carrying out a certain action. Characters and asset classifications are architectural system components that are used to create an organized workspace for users. When a new user switches to listening to music content on the platform, a user's character is created automatically to save data related to the action of this consumer. A user can purchase and transfer content, join social communities and campaigns to support artists, as well as receive rewards for promotion.
Imusify platform allows creating an artist profile to collaborate with other authors, create new content, publish and promote this content on Imusify platform, and receive payments in platform tokens for sales and licensing. An author can create a group of several people who work together to create a certain piece of content.
Companies can also register on the platform, renting their premises for internal meetings of authors, negotiations on the parameters of further cooperation, coffee breaks with fans or producers, etc.
All types of users interact with various digital assets on Imusify platform and can create a content resource. Within each content, all user interactions with the asset are recorded, which is then used to calculate the amount of user fees.
The project object includes the property assets of an individual or collective group. When several people collaborate in writing, recording and producing content assets, activating the project requires funding. Imusify business model demonstrates how a company uses decentralized protocols based on proven business models of other applications, including crowdfunding platforms (Kickstarter, Indiegogo, BandCamp, etc.), streaming music services (Spotify, SoundCloud, iTunes), network usage effect of social networks (Facebook, Instagram) and multimedia platforms (YouTube, Vimeo, Tidal).
The use of the potential of decentralized technologies unites musicians and their fans, as well as other interested parties (producers, labels, etc.) to create a new musical economy. Imusify combines the best practices of crowdfunding, streaming, multimedia sharing, social networking and music creation chain management.
Imusify cryptocurrency
To perform calculations on the platform, IMU tokens are used. A total of 1 billion tokens were issued, of which 65% are directed for sales. The project’s softcap is $1 million, hardcap - $25 million. There are several stages of the project’s crowdsale. The pre-sales have already been successfully completed. Until September 1, the first stage of the ICO will continue, within which you can get a 30% bonus. The full completion of sales is scheduled for October 1, depending on the time of purchase of the tokens, you can get a bonus of up to 12%.
Summary
Thus, Imusify users can release content and projects as digital assets. Smart contracts allow the use of musical digital identifiers for transactions to grant rights to use the product. For example, an artist who registered his/her work as a digital asset can use a smart contract to sell the asset to consumers and automatically make a profit from a transaction.
Imusify aims to create a platform to meet the current needs of the music industry, providing an open space for innovation, the development of new means of interaction and the exchange of musical experience. You can also work on various business developments or creative services within the project, including video shooting, production, advertising, and content design.
Imusify allows musicians to receive funding for their music (Funding & Monetization), track the use of content (Digital Rights Management) and work through smart contracts to conduct transparent payments. Fans of an artist get the opportunity to support him/her and enjoy his/her music. The main advantage of the project is the consolidation of all music services on a powerful blockchain platform, allowing using a new approach to the authorship of the work.
Links:
Website: https://imusify.com
WhitePaper: https://imusify.com/whitepaper.pdf
Telegram: https://t.me/imusifycommunity
Facebook: https://www.facebook.com/imusify/
Twitter: https://twitter.com/imusify?lang=en
Medium: https://medium.com/imusify
ANN: https://bitcointalk.org/index.php?topic=4327428.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.
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