The story of the recorded music business over the past 20 years is one in every of transformation: from physical to digital; downloads to streaming; possession to access. The transformation has led to additional selection in terms of services, and raised accessibility to customers. Today, we hear music via streaming services while not directly owning or downloading digital music files.
Multiple layers of middlemen, as well as streaming platforms, distributors, and publishers, all contribute to the development of a distribution structure that’s unfavourable to artists. Several artists have raised their voices to indicate that they see deficient of the money generated by their works.
More cash inflows into music whereas less money is effluent to artists: additional folks square measure paying for music, and also the music business is seeing additional cashflow, however a lower proportion goes to musicians as several understand solely 10~20% of the sales of their music.
Problem of Current music industry
- A minority of player’s square measure taking a majority of the returns: Distributors and publishers square measure enjoying excessive and lasting returns for effecting what’s in several cases a one-time, unsophisticated task; they nearly always understand additional profit than musicians themselves.
- Outstanding problems with piracy: Rampant copyright problems stay unresolved. Digital piracy may be a chronic issue within the music business. Our conscience might not be at stake; however musicians’ measures financially injured as their very small returns from their creations shrink even more as results of piracy.
- Listeners’ terribly restricted roles: the bulk of fans and listeners square measure pigeonholed as ‘consumers’ as they are doing not and can’t take any development to urge concerned within the inventive method of a musical product. This can be another excuse why labels, distributors, and platforms are ready to still exploit excessive returns.
The Muzika system can perform roles presently undertaken by all existing intermediaries (distributors, publishers, and platforms) and actualize a good distribution structure wherever artists may be righteously remunerated for his or her musical creations. Moreover, the Muzika system can modify fans, as customers, to expand into all stages of a creation’s lifecycle starting from support, production, to consumption.
MZK are going to be the only real medium of exchange for all economic activity at intervals the Muzika system, acting because the medium for community building, support, getting business things, and community programs except for some free services targeted at community novices.
Transactions and application of Muzika coin
Community building: so as to be really independent, the Muzika system can contain all of the required functions and activities. These vary from inventive group action, exchange of feedback, and more.
Commercial things and services: Streaming services, a musical composition marketplace, musical instruments, recording services and far additional can all are offered through Muzika.
Sponsorships opportunities: Users could sponsor artists and become their patrons in numerous ways in which as well as regular subscriptions. As patrons, users will fancy exclusive & sponsor-only product, services, and opportunities to be concerned within the inventive method of a musical product.
Community programs: Community programs and events like auditions, contests, live-streaming events, and alternative such activities driven by member involvement are going to be a attentiveness of Muzika.
Within this new system, musicians square measure in the course of fans, listeners, and fellow artists starting with the initial stage of musical creation. First, artists share their demo tapes and/or video clips, or new integrative concepts with the community members. Next, fundraising gets started once their posts receive enough votes and pass variety of copyright deliberation processes. Community members can sponsor and supply MZK to their chosen artists and become their patrons, expedited by the Muzika blockchain.
‘Muzika Player’, an inbuilt streaming service like Spotify and Pandora, are going to be operated at intervals the Muzika system. Songs and albums registered within the Muzika blockchain are going to be offered each for streaming and download within the Muzika Player. In alternative words, community members cannot get to hunt for outside platforms to stream their music. This can guarantee Muzika’s role as a comprehensive platform for seamless production, distribution, and consumption of music.
- Inseo Chung – Chief Officer and Co-Found
- Sangmin Heo – Chief Technical Officer and Co-Founder
- Jangwon Lee – Chief operational Officer and Co-Founder
- Jihyun Kim – Lead Blockchain Developer
- Jungwoo Lee – Lead Blockchain creator
For More Details of Muzika:
Official Website: https://www.muzika.network
Post By Anton De Mel
BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1770640