MAESTRO ” Revolutionizing the Digital Music World “
The face of the digital music industry has changed due to the presence of blockchain technology, there are existing blockchain music services, but the problem with this existing services is that they are particularly focused on the improvement of established streaming and distribution structures. The fundamental problems of the current industry have therefore failed to be addressed.
Maestro has discovered that there are so many problems associated with the music industry today and they include; the unfair structure of the industry, 80% of the profits generated are reaped by third parties, examples of these existing third parties are; agencies and labels and this leaves the artist struggling with financial burdens.
These problems made Maestro intend on the creation of a block-chain based music platform, this will serve as a creative ecosystem that will operate on virtuous cycles of mutual cooperation, it will be between creators and consumers.
The services of Maestro is made up of two parts and they include: ‘symphony’ which will be the streaming service and ‘Ensemble’ which will be the crowdfunding centre.
Maestro hopes to become a new paradigm for the music industry, it hopes to provide an environment that will allow unhampered creation and as well an ecosystem that will effectively divide the rights of songs between artists and investors, the profits will then be divided among the holders of the token.
A REVIEW ON THE MARKET.
It is no longer news that the growth of the music market has been a continuous one. In the year 2016, research showed that the digital music industry was able to generate a revenue of $7.8 billion, a growth of approximately 17.7% was recorded when it was compared with the year 2015.
This steady growth however, can be attributed to the growth and the development of digital services. The focus of the industry has as well been noticed to have shifted from downloading to streaming, which takes up to a generated revenue of 60.4%, while there is an estimation that about 112 million users subscribe actively to make use of the streaming services.
This has resulted in the safe conclusion that the structure of the music industry will continue to move towards the direction of the streaming based paradigm.
Maestro however agrees with the value campaign which took place in 2006 by Paul McCartney, Taylor Swift and over a thousand artist that there should be an immediate look which will help to resolve the gap in value and as well steer away from the industry from the anachronistic system that continues to stifle the creativity of artist presently.
Streaming, which was supposed to help the industry, has now created a problem by making artist receive less compensation for their works.
This structure that is giving serious issues will be reviewed by maestro, which will help to provide a creative environment for artists, beginning with the large rate of copyright and the high amount of insufficient share of the revenue received.
This streaming process does not only affect artist, it affects consumers as well. Maestro will then come in to help adjust the fees paid by consumers, in a way that it effectively matches with the level of consumer’s music construction.
The Existence of Blockchain, the Problems and the Possible Solutions.
• There is a great difficulty in the process of accessing rights to mainstream music from existing label companies, the satisfaction of so many customers, is indeed a difficult issue.
• In order for the establishment of a new structure to be made possible, by production companies or artist, they have to abandon their present current label which is usually a very big issue because it could result into problems with production costs.
• The emergence of a new blockchain service will cause music labels to lose their current monopoly over the copyrights of music, the most important thing is for the labels to retain their rights through various efforts, activities and as well expenditures.
Maestro Hopes to Provide Solutions by Following these Approach.
• The problem of capital is usually the most important factor to look out for in order to solve basic problems, capital is usually the most relevant issue to consider before any other one comes up. Once the issue of the provision of funds are solved, there will be a fundamental solution to the problem at hand.
This issue will be solved through the process of crowdfunding, this will provide new investment and opportunity of communicating for consumers.
• Only a proportion of the right will be transferred, the artist will only be able to make the distribution of their music through the available model but this will be on an existing drawn contract.
There will be a sound creation of more opportunities for consumers, they will be able to communicate directly with the artist of their choice and even become a very active participant of the artist’s project.
THE GOALS OF MAESTRO.
• Blockchain technology will be properly implemented for the sake of an efficient, future-oriented music service platform.
• The provision of a conducive environment for the creation of music.
• To help produce a high-quality music by implementing the lean process.
• They will help create an environment where small to medium scale production companies and upcoming artists will be able to reduce their financial burden and also retain rights over their work.
• It will help in the creation of investment opportunities and it will also help in the production of high-quality music.
• It hopes to provide consumers with the choice to create new investment opportunities.
• It will provide consumers with the opportunity to cooperate actively with artists in order to promote projects and to actively participate in creative processes.
• It also aims at the provision of decentralized, secure services for every available customer.
DESCRIPTION OF THE PROJECT.
• Music streaming and funding platform will be based on the blockchain.
• The Maestro system will be focused on the service development process and it will aim at the establishment of a decentralized platform through the distribution of the storage which will be fully powered by EOS.IO.
• The availability of maestro’s smart contract will make provision for the listing of contracts and the payment of usage for streaming services. The smart contract will as well hold the decryption key for the music’s that will be stored in the maestro’s encrypted distribution storage.
• Streaming services and other relevant activities will be recorded.
• Music will be stored through a centralized server for effective efficiency and a very fast performance.
• Maestro token (MAE) will be the base currency for tokens, this token will be the acceptable method of payment for streaming services, it will as well be listed on the exchange.
• There will be a SOM which means stake of music, this will be given to investors in projects and it will serve as a proof of rights to creative contents.
• The Maestro point will be used for up votes and down votes in the symphony streaming services.
THE DISTRIBUTION OF FUNDS AND TOKENS.
The profits from this platform will be allocated once in a week, the goal will be to decentralize the structure of the profit through the blockchain technology.
The number of MAEs held will determine the profits made from the platform. Every token left unsold will be destroyed, the issuance of extra tokens will take place once in a year and every further issuance of this token after that time is strictly prohibited according to the stated rule.
The name of the token is Maestro Token (MAE).
The total amount of available token is 1,000,000,000 MAE.
The total available token for sale will be 620,000,000 MAE.
The price, 1ETH will give 10,000 MAE.
They do not plan to get any soft cap for ICO.
They plan to obtain a hard cap for ICO of 62,000 ETH.
The goal for the private sale is 62,000,000 MAE and the available amount for sale will be 10% of the tokens made available for sale, there will be a bonus rate of 30%.
The goal for the 1st ICO is 186,000,000 MAE and the available amount for sale will be 30% of the tokens made available for sale, there will be a bonus rate of 10%.
The goal of the second ICO is 334,800,000 MAE and the available amount will be 54% of the tokens made available for sale, there will be no bonus at all for this level.
THE ALLOCATION OF TOKEN.
The sale will have 62%.
The company will have 22%.
The team will have 13%.
The bounty campaign will have 3%
THE USAGE OF TOKEN AFTER THE ICO.
Engineering, software development will have 40%.
Marketing and business development will have 25%.
Operational expenses will have 15%.
Continental and licenses will have 10%.
Legal expenses will take 10%.
Authored by: https://bitcointalk.org/index.php?action=profile;u=1943421