Musiconomi Announces Crowdsale For Music Industry
Musiconomi, announced a public crowdsale for its token Musiconomi (MCI), commencing July 28, 2017 at 11 am EDT and concluding August 28, 2017 with a minimum threshold of $6 million USD and a maximum cap of $18 million USD. A new Blockchain-based music ecosystem is releasing a new approach in music economy that works for all participants (artists, users, industry experts). The MCI token will grant users the access to different features and tools within the platform. Musiconomi is the second startup to pass through Cofound.it’s crowdsale incubation program and will leverage its Priority Pass mechanism as a part of the sale.
**Musiconomi Chief Organizer Elio-David Di Iorio said:**
“Musiconomi is a Blockchain-based platform, which in addition to being a world-class streaming service, encourages musicians, fans and industry experts to share, collaborate, and participate by offering immediate payment.”
“The legacy music industry is hampered by the number of intermediaries taking significant portions of revenue and leaving artists with just a small fraction as well as little visibility into the process and no way of verifying that they were justly compensated. Given the global scale and annual revenue of the music market, many artists can be discouraged by how little reward they personally receive. Musiconomi, which makes all transactions visible via the Blockchain, offers unprecedented transparency to the industry and removes intermediaries, rewarding artists and experts more fairly for their work,” he added.
“Unlike traditional music streaming services like Spotify, Google Music, and Pandora, Musiconomi is built to include non-musicians to participate directly in the music economy. Musiconomi’s initial focus will also be on independent musicians and micro-labels, which are currently not well-served by the traditional music industry. By empowering anyone, located anywhere in the world to participate, Musiconomi will disrupt the growing $15.7 billion music industry.” Di Iorio said.
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Hi @cryptoserver! Some more news in the music crypto world:
It seems like a small amount of money to be a disrupter, but I'm with you on cutting out the middleman. My returns are peanuts through traditional mechanisms and mostly I just give it away.