Ever thought of Blockchain technology being used in the music industry as unlikely? Well, not anymore, Dench Music is one of the pioneering companies that seek to make it the norm.
What Is DenchMusic?
Dench Music is a Dutch music company that offers a range of services including music production, video production, talent recruitment and management and music distribution. The company intends to combine its unique resources and networks in utilizing the Blockchain technology to revolutionize the way hit songs are made.
The company aims to partner international A-list artists with budding upcoming talented DJs to offer them a platform to showcase their talent to the world. For the company to do so, it seeks to launch its ICO to raise funds kicking off the project and shooting music videos with the artists.
Dench Music not only seeks to give music fans an inside view of the business side of the industry but also aims to get them directly involved in funding the music of their favorite artists. Investors on the Dench Music Blockchain platform stand to benefit from future earnings in the form of profit sharing when the music videos become popular.
DenchMusic MIC Toke ICO Details
The company has a hard cap goal of 35 million EUR in ETH which is estimated to support around 40 – 50 music videos. The Soft Cap is set at 500,000 EUR which is expected to cover the cost of a single project. The ICO is open to participation by the general public who are given the unique opportunity to fund their favorite artists’ songs and music videos.
The company offers all its ICO participants a maximum of 30% profit sharing. The process is 100% legal and regulatory compliant. The actual percentages are based on the amount of ETH invested and the figures listed in the Investment Agreement. The Agreement is valid for 6 years starting from the end of the ICO (till June 2024). Investors are paid quarterly during the first year and then annually for the rest.
Investors are awarded MIC tokens for their participation in the ICO. The tokens function as any other typical ERC20 token. For every ETH that one contributes, they receive 2,500 free MIC tokens. The tokens could be used to buy exclusive services on the company’s upcoming Dench Music Retail Platform.
MIC Token Distribution
- Public Sales – 60%
- Private Investors- 25%
- Dench Music Team- 10%
- Bounties and Rewards – 5%
DenchMusic Blockchain Music Production Retail Platform Benefits
Investors in the Dench Music Blockchain platform also have access to the following benefits:
- Invitations to VIP events
- Discounted event tickets
- Cameo appearances on music videos
- Meetups with favorite artists
- Participation in wardrobe auctions
- Invitation to celebrity song and video launch parties
DenchMusic Revenue Streams
The company’s business model focuses on creating top-notch quality content in the form of songs and videos. The company then focuses its efforts on promoting the content aggressively on several platforms. The revenue streams include:
- Pay-per-view – Through viewing videos and songs on sites like Spotify and YouTube
- Download revenue -Through placing songs on platforms such as iTunes
- Booking and performance revenue- Through getting bookings and shows for the artists
- Performing Rights Organizations – Through earning whenever their music or video gets played on air, public places and clubs irrespective of the country.