The blockchain technology has undoubtedly had an impact on the digital music industry. Nevertheless, the current blockchain music services emphasize improving the established streaming and distribution structures while neglecting the fundamental issues plaguing the industry. However, Maestro Company seeks to stand apart from the rest by using the blockchain technology to address the essential industry problems.
What Is Maestro?
It’s a blockchain-based music streaming platform for artists and listeners that seeks to revolutionize the digital music world.
Maestro aims to fill the market gap of a platform that will get rid of intermediaries in the music industry who exploit artists and hike prices for music consumers. Artists will no longer have to worry about high music production costs, and customers will only have to pay for the songs they listen to at low fees.
The platform is divided into two sections:
- Symphony – the streaming service
- Ensemble – the crowdfunding center
How Maestro Blockchain Music Streaming For Artists Works
Maestro will create a virtuous-cycle ecosystem in which artists produce their projects through advanced funding, issue the results using the streaming service and share the profits with investors on the platform.
Smart contracts handle the entire process in the decentralized system eliminating the need for third-party intervention. This handling includes holding of the decryption key for the music stored in Maestro’s encrypted distributed storage. Consumers on the platform will make use of the Maestro token as a payment method to receive the decryption key to stream their music.
It’s a streaming service which allows artists to distribute their music directly to their fans on the platform. It also records all streaming services and other relevant activities such as user votes and public inquiries of Maestro's blockchain.
It’s the platform’s crowdfunding center that enables the artists to create their content and raise funds. The artists control the rights to distribute their work and can dictate the amount of funds in exchange for their content.
Stake Of Music (SOM)
SOM is the proof of rights to creative content given to investors in projects. The artist initially holds the SOM, and he can choose to distribute it among investors at the crowdfunding stage. All profits from the platform are equitably distributed according to the SOM ratios.
Maestro Point (MSP)
Maestro Points (MSPs) are the influence used for upvotes and downvotes in the Symphony streaming service.
They are allocated based on the number of Maestro Tokens one has, the amount of streaming use and SOMs obtained by taking part in Ensemble funding.
Maestro MAE Token & ICO Details
MAE tokens are the platform’s transactional medium. It will not only be used for the streaming service but will also be listed on the exchange.
All investment profit will also be distributed on the platform in Maestro Tokens.
Parameters Of The ICO
- Token name: Maestro Token
- Token symbol: MAE
- Price: 1 ETH = 10,000 MAE
- Tokens for sale = 620,000,000 MAE
- 16th June 2018 – 30th June 2018
- Bonus – 30%
- 62,000,000 MAE
- 7TH July 2018 – 21st July 2018
- Bonus – 10%
- 186,000,000 MAE
- 28TH July 2018
- No Bonus
- 334,800,000 MAE
- Sale – 62%
- Company Reserve – 22%
- Bounty – 3%
- Team Reserve – 13%
Use Of Proceeds
- Engineering and SW Development – 40%
- Marketing and Business Development – 25%
- Operational Expenses – 15%
- Contents & Licenses – 10%
- Legal – 10%