Music Industry: ICO overview

Music Industry: ICO overview

Today we will talk about implementation of blockchain solutions into the Music industry. According to the statistics, intermediaries get about 80% of the revenues of artists. However, a wide variety of blokchain-powered offer solutions intending to right such injustice. We offer a roundup of four the most exiting past and upcoming ICOs.

Viberate

Upcoming ICO: 5/09/2017 – 04/10/2017

Viberate represents a musc environment relying on the principles of decentralization. You can listen to music through Viberate but the main objective of the service is to connect musicians with clients. It means users of the platform can use it for artist booking together with buying tickets fr events. Artists have an opportunity to charge fees in platform’s tokens and trade tickets to their concerts. Currently over 50 thousand places, 210 thousand events and 120 thousand artist profiles are available within the service. Artist profiles contain detailed information about concerts, content and contacts of agents as well as managers. Viberate offers a wide variety of opportunities for participants. They can get awards for contact edition and creation, including adding new profiles, writing articles, boosting the Viberate service so on so forth.

Musiconomi

Ongoing ICO: 31/08/2017 – 28/09/2017

Musiconomi represents a disruptive blockchain-powered service in the industry of music creation and promotion. It is created as a streaming service intending to reduce costs for musicians themselves, ordinary participants and experts. The platform will allow creators releasing their content, creating licenses and get immediate direct payments every time somebody listens to their tracks. Musiconomi offers benefits for participants who get revenues for sharing compositions with the platform. Using MCI tokens users can get access to different instruments and functions such as playlists, radio broadcasting, online trading and selling or buying tickets. The smart contract system allows introducing automation of gathering and distributing revenues between artists. It is expected to collect minimum $6 million.

Voise

Past ICO: 06/05/2017 – 06/06/2017

Voise is a distributed service implementing blockchain technologies powered by Ethereum. The project intends to give musicians opportunity to control the distribution of their content and flow of received revenues. The core idea is to eliminate the influence of third parties, which will allow musicians to get 100% of revenues. Voise also offers promotional capabilities like free samples. During the initial coin offering the Voise project collected over 3$ million.

Opus

Past ICO: 23/07/2017 – 23/08/2017

Opus introduces an open sourced distributed musical service on the basis of IPFS and Ethereum. It uses IPFS for storing tracks and Ethereum for keys. Due to the transparency of transactions labels will have no choice to fool artists. Such apprach suposses that musicians will get up to 97% of revenues. All the developments as well as updates for the service will be performed on the basis of user voting outcomings. One more distinguishing feature of Opus is that tracks are stored decentrally. It means authorities can’t censor content of the Opus platform. It also features beneficial opportunities for new artists allowing them to promote their content offering other participant some revenues for sharing their songs and tracks. 



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