Music is life. We cannot live without it. How we listen to the music has changed over the years, but the love for music has only grown over the years. It existed before anything was created on earth and it will exist after we are gone. Spotify is our go-to app for listening to the latest singles by our favorite singers. The challenges in the industry today is not the lack of talent, but the survival of the independent artists and music labels.
Big corporations have all the power and money to hire famous singers and produce the quality songs. Raising money is also one of the many challenges that artists face in their everyday life. The independent artists who produce their own songs are looking for an alternative for their projects. Cryptocurrency has become the latest crowdfunding tool for the independent creators from various fields to produce great works.
Solution of the project
DENCH music is producing fifty songs from various artists and DJs. They are the Dutch music production company, and they have chosen the world of cryptocurrency to fund their projects. Integrating the power of blockchain technology, they are creating the new model of music production and distribution. The investors in the project will receive the share of profit after the songs are produced in the market. Utilizing blockchain to manage data and information regarding artists, songs and latest talent on board, they will start a new trend in the music industry. Youtube, iTunes, and Spotify are a few of the various revenue streams that the platform will utilize for the profit generation. They have mentioned Chris Brown as their first singer with whom a Dutch DJ would collaborate to produce the song. I think that it is an innovative concept to raise money directly from the listeners who believe in the specific artists and singers. People would contribute to the fund as they will also be earning profits from the sales of the album.
Ico and Team details
ICO is scheduled to be held in the month of June this year. They are also offering discounts on the contributions by the investors. MIC tokens are utilized for various purposes on the platform. The funds as mentioned will be utilized for the production of the songs. A team is a competent group of people who have years of experience working with the various international artists.
About ico:
- Token: MIC
- Platform: Ethereum
- Standard: ERC20
- Quantity : 500.000.000 MIC
- Price: 1 MIC = 0.0004
- Payment
- ETH: ETH
- Soft cap: 500.000 EUR
- Hard cap: 35.000.000 EUR
- PreICO
- Quantity: 125.000.000 MIC
- Start : 22.06.2018
- Completion: 24.06.2018
- Bonus: 25%
- ICO
- Quantity: 300,000,000 MIC
- Start: 10.07.2018
- End: 31.07.2018
- Bonus: 10% - 0%
- Distribution of Token
Gifts and gifts (5%)
Orders (10%)
Sales (85%)
Distribution of collected funds
Promotion (6%)
online year free (5%)
Photo Shoot (1%)
Legal cost (33%)
Budget Video, budget vocals (6%)
Travel (6%)
Modeling (20%)
Management (13%)
The product (4%)
Roadmap
- Q1 2017
- Publishing Fund, with the official establishment of CTM / IMAGEM Music Group Dench BV
- Q2 2017
- Service in collaboration with Laren Aces Music Amsterdam
- Q3 2017
- Technical documentation of ICO final concept
- Q1 2018
- Talks with A- list of artists Chris brown Started ICO process
- Q2 2018
- Test website to validate tokens start token round
- Q3 2018
- Development / release preparation with Chris brown
- Q4 2018
Benefits for Investors
Investor’s interests will be secured via an Investment Agreement through which they receive profit sharing of up to 30% in any and all profits the company generates, for a period of 6 years (June 2024). The profit sharing will be distributed among all investors based on the amount of ETH they contributed.
Conclusion
Artists and singers are people in the field enjoy success and fame while the people listening to the music enjoy the divine peace. The digital age has changed the way music is being listened to. Streaming platforms have taken over the media and entertainment industry. The music industry has greatly benefitted from the digital technology and now it is the blockchain technology which will redefine the music industry. Independent artists will have the opportunity to connect directly to their fans and bring new albums in the market. We are entering the new world of music production and distribution with the help of blockchain technology. Although it remains to be seen how the existing industry players react to the introduction of the platform in the market.
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