MUZIKA=ANYONE CAN BE AN ARTIST
I welcome you all once again to this Wonderful CRYPTOCURRENCY NETWORK BLOG, as usual ! all of you know’s, I always carry you along with any information about good crypto related projects through my blog.
An initial coin offering (ICO) or initial currency offering is a type of crowdfunding using cryptocurrencies. In an ICO, a quantity of cryptocurrency is sold in the form of “tokens” (“coins”) to speculators or investors, in exchange for legal tender or other cryptocurrencies such as bitcoin or ethereum. The tokens sold are promoted as future functional units of currency if or when the ICO’s funding goal is met and the project launches.
An ICO can be a source of capital for startup companies. ICOs allow startups to avoid regulatory compliance and intermediaries such as venture capitalists, banks and stock exchanges. ICOs may fall outside existing regulations, depending on the nature of the project, or be banned altogether in some jurisdictions, such as China and South Korea.
ICOs have been prone to scams and securities law violations. Fewer than half of all ICOs survive four months after the offering, while almost half of ICOs sold in 2017 failed by February 2018. Despite their record of failure and the falling prices of cryptocurrencies, a record $7 billion was raised via ICO from January-June 2081
The first token sale (also known as an ICO) was held by Mastercoin in July 2013. Ethereum raised money with a token sale in 2014, raising 3,700 BTC in its first 12 hours, equal to approximately $2.3 million at the time. An ICO was held by Karmacoin in April 2014 for its Karmashares project.
ICOs and token sales became popular in 2017. There were at least 18 websites tracking ICOs before mid-year. In May, the ICO for a new web browser called Brave generated about $35 million in under 30 seconds. Messaging app developer Kik’s September 2017 ICO raised nearly $100 million. At the start of October 2017, ICO coin sales worth $2.3 billion had been conducted during the year, more than ten times as much as in all of 2016. As of November 2017, there were around 50 offerings a month, with the highest-grossing ICO as of January 2018, being Filecoin raising $257 million (and $200 million of that within the first hour of their token sale).
Kik had previously issued $50 million in tokens called “Kin” to institutional investors, and sought to raise an additional $125 million from the public. In connection with this ICO, an unidentified third party executed a phishing scam by circulating a fake URL for the offering through social media.
By the end of 2017, ICOs had raised almost 40 times as much capital as they had raised in 2016, although still amounting to less than two percent of the capital raised by IPOs. According to industry newsletter Cointelegraph, companies raised around $6 billion via ICOs in 2017; 37% of that amount was made by only 20 ICOs. Already by February, 2018, an estimated 46% of the 2017 ICOs had failed.
ICOs are sometimes called “token sales”. Amy Wan, a crowdfunding and syndication lawyer, described the coin in an ICO as “a symbol of ownership interest in an enterprise — a digital stock certificate” stating that they are likely subject to regulation as securities in the U.S. under the Howey test.
Ethereum is (as of February 2018) the leading blockchain platform for ICOs with more than 80% market share. Tokens are generally based on the Ethereum ERC-20 standard. According to Cointelegraph the Ethereum network ICOs have resulted in considerable phishing, Ponzi schemes, and other scams, accounting for about 10% of ICOs.
On January 30, 2018, Facebook banned advertisements for ICOs as well as for cryptocurrencies and binary options. By April 9, 2018, ICO advertising has been banned not only by Facebook, but by Twitter, Google, and MailChimp.
In reference with the motion of this article, Today! I will be presenting you a particular undisputed project called:MUZIKA
WHAT IS MUZIKA?
Muzika revolutionized the music industry by establishing an independent and true digital music ecosystem that would eliminate unnecessary intermediaries, empower musicians and consumers, decentralize distribution power, and restore the balance of economic distribution among market participants.
Muzika aims to lessen or remove profits from distributor, producers, and platform that will make music artist to gain more profits. Muzika is a free to use platform for music artist, “free” means no commissions or profit will be deducted from musicians that’s why musicians will get 90% of the profit using Muzika. Unlike other ICO’s they will start with proven service just they will improve it the platform behind Muzika is Mapiacompany Inc. the biggest and first online piano music platform in South Korea with more than two million users. It’s a good start since forty percent of South Korean’s are music streaming subscriber, highest among all nation.
Muzika is a progressive coin economy that will reshape the global digital track industry. From a number of sides, Muzika revolutionized the track enterprise by using building an impartial and proper digital music ecosystem that will:
Eliminating pointless intermediaries,
Empower musicians and consumers,
Decentralize the electricity of distribution, and
Restoring the monetary stability of distribution among market participants.
Muzika holds the promise of the future where compensation for music creation is proportional to the effort and dedication put into the innovative process.
Muzika plans to remove the boundaries between the performer of the song and his listener, using all the advantages of the blockchain technology. Also, the platform will strive to drastically reduce the profits of the distributor, manufacturer and music label, which receives most of the profits.
It is important to note that Muzika is a free music platform for any artist. This means that on the platform will be absent all sorts of commissions and various kinds of cash deductions, and almost all the profits will go into the artist’s pocket.
Muzika strives to create such a music system that will radically change the entire music industry, give it independence from various intermediaries, expand many opportunities for all users of the platform, make it completely decentralized and create economic stability.
The Background of Muzika
Muzika was born in Seoul from the idea of three young Koreans, Inseo Chung, Sangmin Heo, Jangwon Lee, included by Forbes in Asia’s Top 30 under 30 ranking dedicated to innovators from various industrial sectors.Before dedicating themselves to the Muzika project, the three young entrepreneurs created the web platforms Mapianist, MyMusicSheet and KpopPiano, which, according to the press release, have about two million active users and 17 thousand registered music artists from 150 countries.
Muzika Studio v0.1.0 (2018.09.20) is already available for download MAC, Windows, Linux.
Musicians and fans are the real value creators in today’s music industry, but they are not properly rewarded for their value creation.
Musicians are starving. Everyone listens to music, more people pay for music, but artists are still not making money.
Fans (that’s us) are still pigeonholed as consumers, though we are the ones who actually make super-stars! We devote our time and effort to vote, make cover songs, go viral, and even write fictions for our favorite artists, but no one rewards our effort and devotion.
Intermediaries (distributors and platforms) are making excessive profit for one time and unsophisticated tasks of ‘transferring’ the ready-made values.
More engaging and rewarding
Muzika platform will revolutionize the production, distribution, and consumption of digital music. With the support from Ontology (one of the well known and respected blockchain projects in the crypto community), Muzika will be able to introduce blockchain technology in its platform and build an integrated platform which aims to connect artists and fans directly hence increasing the artist’s profit and fans get rewarded for participating in community activities like consumption | sharing | brainstorming in music creation, hence creating a more engaging way for fans to connect with artist and vice — versa.
Muzika platform will also help to defend artist creativity.Protecting all elements of an artist’s creative work from being leaked online in the run-up to its release is a key focus for record companies. Criminal organizations
seeking to profit from illegally obtaining the record before it is fully ready for release jeopardizes the work of artists.
Use of blockchain platform will save music, content and its related information (e.g. artist, date) to be securely saved in the blockchain and share music securely, and ensuring only the agreed recipients are accessing it.
Independence. After the final creation of the platform for all users comments, reviews, analytics and reviews will be available.
On the platform, the market for musical instruments and services will be available to users.
Each user can invest in a musician whom they like to listen to, and as a reward for their sponsorship, they will be given some advantages on the platform that will be available only to sponsors.
Competition programs for performers. Muzika platform developers plan to encourage a large number of performers to participate in these competitions, so talented artists will be found.
Live broadcasts of concerts.
The Platform Ecosystem
The developers plan to create an independent, self-sufficient ecosystem in which the main actors will be artists and listeners, in which all the awards will be honest and deserving.
The ecosystem consists of smart contacts, thanks to which performers and listeners among themselves will honestly and transparently exchange musical works. Blocked and intelligent contracts on the platform will be used to protect the copyright of performers.
Fans will also receive an award in the tokens of the MZK platform for participating in various competitions and other events. They will be able to vote for the best artist and directly sponsor them, encouraging them to create new music content.
Smart contract will allow digital musical products to be transferred directly from artists to fans, ensuring fairer and more transparent economic distribution.
Fans will be rewarded with loyalty points for their various community activities, which will be regularly converted into MZK coins – the sole medium of exchange for all economic activities in the ecosystem.
Fans will have opportunities to make direct sponsorship to their favorite artists, supporting them and receiving exclusive benefits in return.
All tools available on the platform will serve as the current existing intermediaries in the face of distributors and publishers and fairly distribute compensation for high-quality music content.
Token Sale and ICO Details
MZK is an ERC20 token built on top of both the Ethereum and Ontology blockchain network. However, in the future, Muzika plans to develops its own protocol blockchain specialized for community-based applications that facilitate all digitized forms of creative works.
Main sales: 205 million MZK
Total will be released: 1,000,000,000 MZK
Hard cap: 20,000 ETH
The MZK token is used to gain access to the Muzika ecosystem. It serves 4 main functions:
MZK tokens are used as an incentive mechanism to foster greater participation amongst community members. Members earn MZK tokens for creative brainstorming, exchange of feedback, and more.
Means of making transactions for commercial items and services: Ecosystem participants can exchange digital music, sheet music, musical instruments, recording services, and much more using MZK tokens.
Users can sponsor artists and become patrons by paying monthly subscriptions to their content using MZK tokens. Patrons will receive exclusive access to the products and services offered by the artist. They will also get to be more involved in the creative process of the music.
MZK tokens will also help fund community programs and events like auditions, contests, live streaming sessions, etc. All of these activities help strengthen the Muzika network.
MZK tokens can be obtained by participating in Muzika’s upcoming ICO, or by purchasing the token on cryptocurrency exchanges. They can also be mined through active, loyal participation in the community.
For more information, please visit:
ANN Thread: https://bitcointalk.org/index.php?topic=5042121.0
Telegram channel: https://t.me/muzika_english
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1925101
DISCLAIMER:This post was brought to you by Opeyemi being my personal project on Muzika campaign project