The increased transition to digital media has seen many artists earn very little from their work. Artists currently suffer from exploitation due to the existing inefficiencies in the current centralized music system. Additionally, there is the lack of transparency in the industry that has contributed to the loss of revenue, ineffective licensing processes, and mis-attribution of ownership. Artists are struggling to earn a fair and sustainable income as large organizations continue to grow and withhold some portions of revenue from the artists.
Another challenge facing the music industry is connection failure. While global users can easily get the music they want, there is a large disconnect between music creators, collaborators, and shareholders. This makes it almost impossible for these actors to exchange ideas and resources.
What Is Imusify?
Imusify wants to create a fully decentralized music marketplace that will provide a solution to these and many other challenges facing artists in the music industry. By use of innovative protocols and frameworks, Imusify will facilitate a direct peer-to-peer connection between artists, fans, and other stakeholders.
How Imusify Decentralized Music Economy Blockchain Works
The platform will integrate the best practices of streaming, crowdfunding, media sharing, social and economic networks. This will do away with the need for intermediaries. It will also provide transparency, resolve inefficiencies and ensures that every artist and other service providers are rewarded in line with their contribution. Some of the use cases of the platform services include artist crowdfunding, incentivized content creation, transparent artist royalty payments, network collaboration, and open source development.
The platform has an easy to use interface. It will also use neo-python as a blockchain middleware for communication between UI and the smart contract. Imusify is set to revolutionize the global music industry and it will liberate music fans, music makers, and music entrepreneurs.
The features of the platform include:
Users can upload songs, podcasts, and audiobooks among other content that can be distributed and shared within the platform or externally.
Users can vote for content, which will allow for the curation of good and bad content. Users are rewarded in IMU tokens when they participate in making sure that content provided by Imusify is of high quality.
Creation Of Channels
Users are able to create their own channels with even playlists that are based on different topics and tags. Users can also invite others both from the platform and outside the platform using email so that only invited members will have access to the channel.
Imusify IMU Token & ICO Details
The IMU tokens will be used as the engine to support Imusify multilayered decentralized music economy. This will increase the demand for the token since the token will have many uses throughout Imusfy’s infiltration into the industry.
The platform has a smart reward and compensation system where users are rewarded for contributing to the system. The token will also be used as a currency for the exchange of digital services and assets. The token will be used to establish trust and transparency between fans, artists, industry service providers, and supporters. This will create a vibrant ecosystem.
Parameters Of The ICO
- Token Symbol: IMU
- Token pre Sale Starts:1st July 2018
- Token Sale Starts: Aug 2018
- Soft Cap: 18,000 NEO
- Hard Cap: 436,000 NEO