Lyrics and rhythm combine to create a thrilling song but the sonorous voice and creativity of the artist/musician when composing them is a major factor to the success of any song. For many decades, especially after the introduction of the internet, the income of musicians began to go haywire. This is because of monopolistic attempts that enrich the pockets of content distributors and managers at the expense of the creators (artists).
This situation has been the bane of the music industry. It doesn’t come as a surprise that many entertainers in the sector are gradually giving a rethink in furthering their career. Now is the right time to salvage the collapsing global music industry. Thankfully, blockchain technology is a powerful tool for that purpose and IMUSIFY is a messenger with the good news.
Problems/Loopholes
The issues are many but it would suffice to highlight the most pressing problems. The first is the overt monopoly and infringement on artists’ rights, which lead to copyright mismanagement and in extension, lower pay for musicians.
Artists are literally “feeling the heat” of these monopolies but have limited access to source additional funds for events and recordings. More saddening is the fact that these problems would continue as far as the centralized structure is still in place.
IMUSIFY has the Answer
There’s more to this project than just its aim to solve these existing issues. This is the first time that “an insider” would promote such a project. In that case, IMUSIFY has greater chances of faring better than similar platforms with the same disposition.
Structure of the Project
It’s worth mentioning that the team behind the project, especially the CEO/Founder has considerable experience in the music industry. That is the reason why this project cuts across diverse areas that need to be addressed.
Here are some of the working frameworks it implements to solve the problems:
Smart Economy
IMUSIFY uses this to integrate Peer-to-Peer networking in the formats of TCP and NetSocket. These ensure that musicians/content creators have direct contact with fans and other players in the industry. Hence, third-party affiliations are gone!
One Ecosystem; Multiple Users
Have you ever been to a concert or an event organized by your favorite musician? You must have realized that security and management officials ensure that the artist doesn’t have close contact with the fans.
IMUSIFY doesn’t want such situations to continue. That is the idea behind the one ecosystem. Here, major stakeholders in the music industry, including musicians, record labels, managers, and fans will be under the same platform. You would agree that this is a medium for you to establish direct contact with artists at no costs.
Faster Transactions
This project doesn’t want to experience lags/hitches along the way. Hence, it adopted the NEO blockchain that had the capacity to reach 10,000 TPS.
Fund Generation
As stated earlier, musicians are often in need of money because they barely have enough to themselves because of the fragments in the centralized structure. Aside from the creation of a decentralized approach, IMUSIFY also empowers them to solicit funds using avenues like streaming, and crowdfunding.
The IMUSIFY TOKEN (IMU)
IMU is the native crypto token of this project. Fans are allowed to “tip” their favorite musicians with it. It also serves as the in-house payment system that collects fees from fans when they engage in live streaming of songs or buying albums and singles released by artists on the platform.
Roadmap
Allocation of Tokens
Token Sales Information
Ticker: IMU
Token Standard: NEP-5
Token Type: Utility
Platform: NEO
Token Supply: 1 billion
Soft Cap: $1 million USD
Hard Cap: $25 million USD
Exchange Rate: 1 IMU = $0.05 USD
Accepted Currencies: ETH, DASH, LTC, BTC, XMR, NEO, BCH
Country of Registration: Estonia
Restricted Areas: The USA, South Korea, China, Singapore, and Canada
The Team behind IMUSIFY
Advisors
Partners
The Dawn of a New Era
Without any iota of doubt, IMUSIFY is revolution personified. We expect to see its adoption in the mainstream music industry where it would favorably compete with current players such as SoundCloud and Spotify.
Website: https://imusify.com/
Whitepaper: https://imusify.com/whitepaper.pdf
Bitcointalk bounty link: https://bitcointalk.org/index.php?topic=5105001.0
Bitcointalk ANN thread: https://bitcointalk.org/index.php?topic=4327428.0
Imusify product demo: https://imusify.com/app
Twitter: https://twitter.com/imusify
Facebook: https://www.facebook.com/imusify/
Telegram: https://t.me/imusifycommunity
Author's details
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1777715