SOUNDEON: Latest music streaming application based on the Ethereum blockchain
Introduction
Music makes our life worth living. The advent of the internet has made listening to the music simple and easy. People do not have to search for hundreds of DVDs and CDs for their favorite album. Having the unlimited choice of listening to our favorite music has made innovators develop streaming music applications in the market. The streaming music applications are our only stop for our favorite music. Spotify and iTunes are dominating the market as they have become the gold standard for top songs on the charts. As the listeners flock on these apps, their revenue has been on the rise despite a few of the problems in the current market.
One of the main problems is the lack of monetary gains for the artists in the music industry, and they have to be dependent on the tours for their financial earnings. There are even problems in the ticketing industry which needs to be solved. The presence of the third parties and intermediate has created many loopholes for the industry. Fraud and music rights theft is common in the industry. Spotify had to pay millions of dollars in the music rights arrangement for court case settlements. Do you think there is any chance of creating solutions for these challenges?
Solution offered
SOUNDEON is the next generation platform redefining the distribution and management of media. It has many features which will change the course of music rights management for the artists as well as the public. Bringing blockchain technology onto the core of their products, they are building a creative smart contract(CSC), which automatically executes the contracts. The SOUNDEON protocol is based on this smart contract which enables transparency and royalty collection. There are many features on the platform, such as music player and decentralized exchange for token exchange.
They are also launching a solution for the event and concert tickets for the fans. Artists can register on the platform and easily monetize their art utilizing different features. Different subscription schemes are available on the platform for the fans. The payment protocol is based on the ethereum blockchain, and the transactions are also conducted off- chain. Overall, the platform is designed for the artists to be free of all the hassles, and for the fans to easily listen to the best music and get their concert ticket without paying extra.
ICO INFORMATION AND TEAM
1 Billion SOUNDEON Tokens are created for the project. 65% of the tokens are reserved for the crowd sale. The token sale is live on the platform. The funds will be utilized in the development of the platform and marketing. The team working on the project is experienced in the field of the blockchain technology and media industry.
Conclusion
The music industry is going through a rapid development in the age of digital technology. Millions of songs are available online as streaming music has become more and more popular. The fans who had to wait for many days for their favorite albums do not have to wait for a second on the Spotify. The future of the music industry is dependent on the business model they are going to adopt with the invention of the blockchain technology. Will they utilize the power of blockchain technology to remove the inefficiencies in the existing music industry?
What happens to the existing players and musicians will be a show for the future. Currently, the concentration of the platform and the people must be to adopt the best technology which enables a fair share to each of the stakeholders in the industry. Artists, being the center of the ecosystem must have the variety of tools to monetize their work as they wish. I think that the platform will provide these services to the artists and the fans. What do you think about the success of the platform? Will you listen to your favorites on the platform?
Website- http://soundeon.com/
Whitepaper- https://soundeon.com/Soundeon_WP.pdf
Published By- Kishan748
Btalk Profile- https://bitcointalk.org/index.php?action=profile;u=1027561