INMUSIK — Global Music Economy On Blockchain

cratortouch (31)in #blockchain • 6 years ago

Inmusik is an ecosystem based on a blockchain database that supports the music industry, streaming, and social interaction, with cryptocurrency rewards and a financial framework on which future music industry applications can be built.

The platform is a fusion of concepts from music streaming and social media which includes community curation, verification and transparent payouts to both content owners and contributing listeners/fans. To enable a fair market economy for an industry built on all types of music assets requires a system capable of easily accounting every users’ contribution.

The Inmusik application promises to be an advert free streaming music platform with a vast number of artists, songs and albums, where fans can earn money and/or gain free membership by contributing to the community, serving as a backbone to the Inmusik ecosystem. Artists can upload and manage their content, connect and communicate with fans, sell an array of merchandise and tickets, and earn at each step of the way with fairness and transparency at the core.

For artists, Inmusik is a fan creation machine. For fans, a place where they can earn rewards for discovering music. For labels, a frictionless source of generating revenue. For the music industry, a new way to conduct business that will drive economic growth.

ECONOMIC MODEL

Inmusik enables the following:

REWARDS AND INCENTIVES

Fans are rewarded for simply interacting. Finding great new music and helping it surface pays.

FAIR PAYOUT FOR ARTISTS

Artists earn more in a fair and transparent way and connect directly with fans. Designed for signed and independent artists.

FINANCIAL TRACKING

With 3rd generation distributed ledger and smart contracts, every cent of revenue can be easily automated and transparent.

FASTER LIQUIDITY

With no wait time, payouts are instantly available to whoever is earning within the community.

INMUSIK TOKENS (Sound Coin)

Sound Coin is the fundamental Token on which the Inmusik blockchain is based and which Inmusik Cash (IC)’s value is derived from. This cryptocurrency can be bought or sold as well as being used as a form of payment. Users can also purchase tokens directly on Inmusik from their verified account.

Distribution and Supply

Sound Coin, being the primary token, can be exchanged for currency (dollars, euros), in jurisdictions where such exchange is legal, or other crypto-currency (e.g., Bitcoin, Ethereum) after the initial ICO. The projected value is expected to be about $0.10 USD per Sound Coin.

Distribution of Funds

Marketing – 36%

Marketing will be the main expense for Inmusik to attract millions of fans to the planform. With virality built in at the core and having experience in bringing millions of users to products our team has created, marketing is an area we excel at. Therefore, we will allocate 36% of funding to marketing. With Robert Bowling, (who led two of the largest entertainment launches of all time and directly responsible for $2 billion in sales with Call of Duty) as Chief Marketing Officer, we are confident in our ability to capture a large audience of music consumers.

Technology and Design – 28%

Technology and design is at the core of our business. To ensure the user experience is exceptional from first use to sustained daily engagement, we consider product a priority.
Leading product design is UX/UI design expert Vivienne Piong, co-founder of 500 Designs and who coined the term ‘Performance Centric Design’. She has designed for 2 Fortune 100 companies and numerous other start-ups, contributing to millions of people experiencing her work. Product development is led by Kay Johansson, who for 20 years has been recognized as an innovator and leader in audio-video technology and digital convergence. He has also had millions of people use products he has led development in.

Human Resources and Operations – 14%

There are no great companies, only great teams. Therefore, a significant amount of resource is dedicated to finding and hiring the very best people to pave the way in an evolving music industry. Creating a vibrant environment from which to work from is key. This applies more to the system of operations designed to encourage team members, nurture top talent and enable easy collaboration to ensure efficient use of time and funds.

Innovation – 12%

With the core team being proven innovators and inventors, we understand the importance of continuous improvement - to think of what no one else has thought of yet. Inmusik will continue to gather feedback from users, partners and investors to craft a user experience which thrives as new technology enables even more amazing applications in the future.

Legal and Finance – 10%

To ensure that Inmusik is operating in the most efficient way possible, while correctly licensing content through partnerships with major labels, we are allocating up to 10% of our resources to legal and finance.

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