The music industry has always been famous for a handful of corporation and labels controlling the entire business. The artists represented by them have little power and at many times are nothing but puppets. By controlling the distribution network, the get to have the say in who is going to be seen by the mass public. In the age of decentralisation, if there is any industry which needs to be shaken up is the music industry.
UFAN8 has an answer to this by creating a live streaming broadcast network.
UFAN8 is a live performance platform which combines aspects of YouTube, Twitch, MCNs and traditional performance. UFAN8 allows performances to showcase themselves in real time over mobile and web.
UFAN8 is more than a spectator experience. It is live social video that relies on audio and a real-time chat to enable artists and their audiences to interact about anything under the sun. Their platform helps build a social brand and unleashes fans value. The ecosystem they cultivate is fan centric which builds up the fan economy.
The UFAN8 Revenue Model
UFAN8’s business model is multi faceted. The primary ways of income generation is listed below:
There will be 3 membership levels, Tier 1, 2 and 3 which costs $4.99, $9.99 and $ 19.99 respectively. Each membership level has increasingly more perks with Tier 3 membership even having the option to message the performer.
Cheering With Tips:
Cheering is a way to support artists, where a cheer is a chat message where you can send emoticons to your favourite performers. You can purchase 100 cheers for $1.40 and more cheers can be got at discounted price. The monetary value of each tip is given to the performers.
UFAN8 will incorporate advertising including Banner ads, video advertising and sponsorship from major brands
Details About the UFAN8 ICO
UFAN8 is a sign issued smart contracts Ethereum. 350 million tokens will be created of which 70 million will be distributed in crowd sale. 100 million will be retained by the company and another 110 million will be kept for Reserve. 10 million will be distributed to management and development team and advisers while 60 million will be retained by Facilitator. For every UFAN8 tokens sold 0.0333333 will be emitted into the bounty top.
UFAN8 is burned eligible ERC20 and entitles its holder to a quarterly dividend based on the net profit of the show Live at UFAN8 100% tax for the immediate post show claim will be distributed on a quarterly basis at ETH to all UFAN8 holders (the company also receives dividends from UFAN8). UFAN8 will sell at $ 1USD at a discount for early users. Users can buy, sell, trade UFAN8 tokens on cryptocurrency exchange.
ICO begins on 19th February 2018 and finishes on 19th May 2018. $1 Million is the soft cap and $10 million is hard cap.
UFAN8 ICO Conclusion
With a vision to change the way musicians and content creators are discovered and opening new channels for them to earn a living, UFAN8 seems to be on the right track. Their model is already working in the form of YY.com which generates $750 Million in revenue and there is an entire section of music industry waiting to be be grabbed.
Find out more about UFAN8 and their token on http://www.ufan8.io/.