Soundeon – The Blockchain Music Platform
The buzz about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is a enormous base of information where we can do anything. Internet has connected the entire world. One of these projects is Soundeon, a decentralized music block and multimedia platform built on the Soundeon ecosystem – a protocol for modern media. Soundeon Company is a consortium of block experts, artists, software developers, intellectual property professionals and media leaders who create business in the media industry.
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According to the leading economy of the music industry, “Will Page”, the world’s music copyright will receive an income of $ 24.4 billion by 2015, which is $ 10 billion more than the often quoted IFPI numbers, which largely exclude income from publication and songs . In addition, direct tickets in 2017 amounted to $ 32.0 billion in primary sales and $ 9.8 billion in resale. Both segments of tickets grew with a 5-year CAGR of 14 and 19 percent with respect. In general, recordings of music and tickets represent market opportunities of 66.2 billion dollars. USA.
Soundeon helps artists regain control of their work, monetize their talents. Since the music industry is struggling to solve issues related to digital rights management for music and in real time, Soundeon is a step-by-step approach to use.
Block technologies, such as independent independent contracts and unchanging computing technologies, allow Soundeon to create a functional, stable, secure and adaptive environment for solving practical problems in digital media and tickets. This platform covers all aspects of the music industry. From creations and copyrights to resale existing and future contracts for music assets, concert organizations and ticket sales.
Soundeon uses a multidisciplinary approach to eliminate inefficient and old market practices that adversely affect artists and fans.
MISSION AND VISION OF SOUNDEON PLATFORM
View exceptional talents and allow creators to gain more control for their work. The implementation of the Soundeon mission was made possible in connection with the development of a new copyright management solution based on smart contracts, which ensures fairness, transparency and invariance of all operations performed and provides an opportunity for closer communication between artists and fans.
Combining the entire experience of the music industry into a complete cycle solution that provides transparency and innovates into the music industry. Creation of an ecosystem in which success depends on the efforts and talent of the creator, in which every artist can fully focus on creativity.
Solutions and problems
The music industry is hard to navigate, which makes it inaccessible to most musicians. They should seek recognition from music producers, managers, record labels, and concert promoters who only partially answer the needs of the artist.
The old ways of losing their taste in a changing world and the music industry need new solutions as well. The kind that can guarantee equal opportunity for all.
Soundeon – a decentralized and vertically integrated music platform that covers all aspects of the music industry. From creations and copyrights works to resell contracts of both existing and future music assets, to concert organizations and ticket sales.
Progress in blockchain computing enables us to develop Creative Smart Contracts (CSC) ™, an independent media self-execution rights agreement that is the backbone for our platform. Information symmetry, conservation and agility from the easy use of CSC ™ essentially enhances fairness, transparency and trust, which the media industry does not have.
FEATURES OF SOUNDEON PLATFORM
This is a Blockchain based ticketing solution that is optimized for the fans and is embedded on the Soundeon environment. Necessary measures such as dynamic QR codes and Creative Smart Contracts have been taken to prevent ticket scalping and fraud. Soundeon Tix was created to enable organizers take complete control of ticket resells on the primary and secondary market.
This is all about the data. It includes royalty data aggregation form Soundeon and other third party providers. There is also an integrated data analytics that displays all aspect of creative input by the artist, such as royalty collection, copyright, ticket sales.
As such, fans will be able to track and analyse the royalty accumulation of their music portfolio. This accurate information will make it possible for them to make informed decisions when purchasing other musical assets.
This is a music player that depends on Blockchain technology for a transparent royalty distribution. Artists that are using the Soundeon Monitor will have the option of distributing their work via this music player.
The player is expected to collect data, which is entered onto a validated decentralized registry, on the number of times a track is played. Consequently, Soundeon members are expected to receive a fair royalty distribution and a highly accurate listener analytics.
This is a tokenization tool and a decentralized exchange of intellectual property. This is where users are supposed to purchase or sell their royalty income. So, songwriters, artists and tight owners that use the Soundeon Monitor to register their creations will be able to sell part or all future earnings of their work.
This makes it possible for independent artists to compete with the big labels. Also, it offers music fans the opportunity to create a diversified personal music royalty portfolio.
THE SOUNDEON TOKEN
This is a utility token that was designed to align economic incentives among users of the platform. Soundeon token is expected to be used as an incentive and reward for early adopters who contribute value to the platform through network effects.
Some uses of Soundeon token include;
• As a utiliity prepayment mechanism for services rendered on Soundeon
• Ensures a frictionless nature of tokenization
• It makes micropayment possible with low transaction cost
• Provides value to the listener
• Functions as liquidity facilitation mechanism for the artist
Please note that other form of payment will be accepted on the Soundeon environment. This include all major cryptocurrency and fiat currency.
The soft cap for the token sale is $3 million, while the hard cap us $7 million. This implies that, if this minimum cap is not reached, the funds will be returned to the contributors. Also, if the marketing phase of this project is not reached, the roadmap is expected to adjust. According to the whitepaper, this is to ensure platform longevity and tokenomic sustainability.
Any unsold token will be locked for a year. This measure will be taken to ensure the commitment of the Soundeon team towards the longevity of the media environment. After this lockdown period, the token will be used for the Soundeon global marketing campaign.
65% of the tokens will be used for product development.
14% of the tokens will be given to the founders of the project.
4% of the tokens will be given to early supporters.
6% of the tokens will be given to councillors.
3% will be intended for the pool bounty.
2% reserve Fund.
6% of the tokens will be allocated to charitable programs.
Meet The Amazing Team
Be a part of this incredible project. Download the whitepaper for the full scoop.
Till next time…
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Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project.