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In music industry, money does speak louder than ever. The rapid digitalization of music has led to a wide range of avenue for monetizing content. The problem is the music industry was built as a centralized system for physical distribution. This was more practical in the 1970s when there was no internet and record label were distributing actual record. This centralized system was not designed for today’s digital world and it is outdated structure does create multiple inefficiencies in the music value chain.
Fortunately, now we have the technology to begin to decentralize the music industry, provide adding value to artist, consumer and other industry player. Imusify is one of the pioneers of music’s decentralization movement, another blockchain music projects also show leadership in tackling certain inefficiencies such as event booking and copyright management. However, what sets imusify apart is that it aims to serve different stakeholder and player across the entire music value chain, including crowdsourcing, collaboration, production, distribution, promotion, curation, live event and more.
Imusify has evolved to encompass several protocol layer for digital asset, digital identity, and smart contract. The goal is to create a smart economy for music that could grow unexpectedly at the same time as imparting artist inalienable right to their music. The digital right management layer will exist one by one to the NEO blockchain, allowing for more flexibility for artist and different customers.
Imusify was awarded the second place in the city of Zion’s first NEO dApp competition and introduced the venture at the inaugural NEO DevCon occasion held in San Francisco. Imusify pursuits to provide a comfortable system for artists to earn profit and enable new engagement opportunities with their fans.
Imusify is constructed at the NEO blockchain and capabilities as each a music platform like SoundCloud or Bandcamp, and as the second one layer to those platforms. It builds on the version with accelerated incentives for listeners and creators. Its area of interest is constructed on the capacity to integrate content from existing systems for the economic benefits of the IMU token.
Imusify considers it a responsibility to present a cohesive document that allow us to escape the whitepaper era of blockchain and currency trading and into the era real value. While most whitepaper don’t discuss the greater context of the blockchain economy, this analysis can be valuable to our reader by clarifying the inevitable uncertainty of an innovative venture like imusify, and by providing the necessary information for stakeholders and early adopters to make informed decisions.
Imusify Features :
Audio Player
User can upload audio, Song, DJ Mix, podcast, audiobook etc. Which can be share or allotted internally or externally to different systems and capacity users.
Curate Content
User have the choice to up or down vote content material, for this reason curating good and bad content. Users earn reward for making sure the content provided by imusify is top quality.
Create Channel
User can create their personal channel, similar to Slack, which are their own real-time and personified channel and playlist based on tags and topics. User can invite different customers internally or externally via electronic mail so most effective invited individuals have to get entry to the channel.
Imusify main problem areas :
Human Rights Management
The lack of a comprehensive rights management regime created several problems for managing the digital rights of artists from lost income to wrongful ownership. As now every right holder receives their share by registering with a community that has the duty to collect and share collected funds called royalties among all holders of rights based on agreements, partially determined by right holders but also often determined by the collecting community. Even if artists can now produce, distribute and market their work almost entirely digitally they still have little control over ownership and security of rights.
Payment Transparency
Payment transparency issues arise from centralizing the distribution of royalty systems. Performance rights organizations carry out the process by collecting payment royalties from streaming services and then allocating payments to artists based on royalty rates set by the organization such as The Copyright Royalty Board. There are also other transactional processes where holders the right to try to collect payments.
Licenses and Monetization
Outdated legislation around licensing systems and tariff setting failed to use technology to track licenses and send royalties. Digital music services have no efficient system in place to get and track all licenses related to various types of digital consumption such as radio, streaming on demand, streaming radio, digital purchases and more. Smaller artists don’t have the resources to impose control over their content and rights. With limited information about how payments related to their content really don’t work, they are often left out or not considered at all.
Imusify Solution :
Imusify using the potential of blockchain usage, imusify uses blockchain to overcome industry challenges and provide real-world use cases that will not only bring value directly to the music room, but also educate early users to lead the evolution towards community adoption of blockchain use cases others.And can solve all the problems of transparency, data accuracy and financial problems
New users start out with an initial recognition stage. This level determines the rewards the person gets for handing over or curating content material. Depending on consistency and best of contribution the users’ reputation level increases giving the user a proper to higher rewards which can be automatically paid out to the users’ wallets. Over the years content creators and curators could have a solid source of income which can be converted into coins. Imusify has no control over this as it is hard-coded into the immutable smart contract.
Token Details :
Token Specifications: Token
Name: IMU
Platform Token: NEO
ICO Price: 1 IMU = 0.05 USD
Total Supply Tokens: 1,000,000,000 IMU
Softcap: $ 1,000,000
Hardcap: $ 25,000,000
Receive Payments: NEO, BTC, ETH, LTC, XMR, BCH and DASH
Tokens for sale : 65,000,000 IMU
RoadMap
Team
Conclusion :
Imusify’s advantage over Spotify, iTunes and Pledge market is that it combines the 3, making it easier to use a one-fits-all answer in preference to transfer between extraordinary structures. Imusify seeks to increase a wonderful solution, its business version and the group are top notches.
For more information, please check the link below :
Website: https://imusify.com
Whitepaper: https://imusify.com/whitepaper.pdf
Telegram Group: https://t.me/imusifycommunity
Twitter: https://twitter.com/imusify?lang=en
Facebook: https://www.facebook.com/imusify/
ANN: https://bitcointalk.org/index.php?topic=4327428.0
Bounty: https://bitcointalk.org/index.php?topic=4805108
Name : Suryatampan
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=2123638
