Inmusik: Музыкальная стриминг-блокчейне платформа
Due to the wide distribution of streaming multimedia platforms, there have been changes in how people listen to music. Integration of music services with social networks has become a common practice in creating large-scale projects. These changes, in turn, also influenced the financial system of the music business: now the profit from streaming services is a significant part of the income of performers. To date, the only thing that users receive for their participation in the stream-platforms is the music content that they acquire. However, the project Inmusik is designed to provide listeners with much more advantages than the already well-known music services. Both musicians and users of the platform will receive a fair reward for their work with the Inmusik service.
How will Inmusik help authors and performers?
First of all, Inmusik will help artists find their audience. Like similar services, Inmusik will allow users to pre-listen to small music fragments, but in this case, the performers themselves will be able to determine which excerpt, in their opinion, can captivate the listener in seven seconds. For each confirmed account, from which the author’s works will be downloaded, remuneration will be transferred in own, so-called, creative platform tokens – Sound. In addition, performers will be able to monetize not only music, but also video content, including publishing photos and posting posts in their account. It is important that the author of the account, placing on his page new information or uploading songs, put tags next to the names of all the musicians who participated in creating the tracks.
Thus, the system will be able to calculate and automatically distribute the income received among all members of the community, depending on their role in the creative process. Recording companies will be able to increase their turnover due to the revenue generated from listening to tracks on the platform.
How will Inmusik attract users?
Listening to music fragments is implemented on the platform using the Quick-Play function. The time for listening to a piece of music is from 7 to 30 seconds. Users can create their own playlists and add them to their collection. Listeners will be able to cast their vote for the composition they liked using platform tokens.
Depending on the number of votes received, the rating of the songs will be determined, and if the songs for which users cast their vote will be broadcast for a long time on the platform, they will be able to monetize their voices and get even more tokens into their piggy bank. The earlier the vote was cast for the song that later became successful, the more revenue it will provide to the users who voted for it. In addition, users will receive a certain number of tokens as a gift. Such actions will be held every day, which will increase the motivation of users of the service and attract them to active actions on the platform.
Two purses will be connected to the user account. With the help of a standard electronic wallet, users will be able to transfer assets to other users – everything, as in the already familiar block-platforms. The second purse, Stash, has an enhanced functionality and can be used as a savings account. The minimum deposit term will be 12 months. The more tokens will be placed on the user’s account, the more valuable will be his voice. And here Inmusik plans to use so-called “influential marketing”. In any case, the value of the vote must be confirmed by the opinion of the community, so Inmusik seeks to guarantee the objectivity of the rating.
To date, all functions of the platform have already been modeled and are in the stage of technical development. After the successful launch of the service and as it develops, the developers plan to add several fresh solutions, for example, users will be able to use the audio processing service, conduct their blog on the platform, purchase tickets for music festivals, and much more.
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