Introduction
Music Is Life
All over the world, people can relate to music, it does not matter how different humans are and how diverse our tastes or religions are, we all get excited when we hear good music.
For the Christians, there is a story in the Bible where good Music was used to calm a King whenever an Evil spirit took over him and it worked quite effectively, the importance of music in our lives just cannot be over emphasised.
Personally, when i am depressed and i listen to music, my mood gets lifted immediately and i become happy, Music is a universal language, i say so because even if i listen to good music in a language i don't understand, i still love it.
THE PROBLEM
⏩ For Artists: Music is made worldwide by talented individuals who pour their time,effort and talent into making the music that we all enjoy but the sad fact is that even in this enlightened day and age, Music artists are still being exploited, because record labels get up to 80% of revenue generated by an artist and this sometimes leaves the artist with barely enough to survive.
There are just too many middle-men between the actual making if the music and the stage where it reached music consumers worldwide, all these middle-men are eager to take their share of the cake and this further reduces what the artists eventually gets.
⏩ For Music Lovers: Music distribution companies and record labels control the price of music, they can set any price thy want and because we love music so much, we pay their prices just so we can have the music, this is resulted in consumers paying much more for music because all the labels and distributors care about is their profit.
THE SOLUTION
Blockchain technology has been said to be the next best invention after the invention of the internet, Blockchain 1.0 which features the Bitcoin blockchain introduced decentralization in the way we send money, with bitcoin, we dont need banks to make financial transactions anymore.
So just imagine, what if this same Blockchain technology is used to decentralised the music industry? Well, you dont have to imagine it anymore, there is a revolutionary platform that is here to merge Music with Blockchain and it's name is InMusik.
WHAT IS INMUSIK?
InMusik is a project focused on solving the problems faced by Artists and Consumers of Music, InMusik would be hosting a Music streaming platform that would ensure that music consumers enjoy music with the smallest possible payment because maestro would be cutting out all middle-men involvement and the extra cost associated with them.
For Music Artists, Present situation of things are unfair to them, Record Labels provide funding for the production of music and when the music yields profits, the label takes up to 80% of the profits, this is unfair to Artists, But with Inmusik Artists can have access to crowdfunding that would help them in productions costs thereby maximising their returns.
It is estimated that $16.2 billion has been raised worldwide through crowdfunding and InMusik wants to use this concept to help artists raise capital for production costs. In the InMusik Ecosystem, Fans and Investors can help artists raise funds for production and the profits from the streaming if this song is fairly distributed to both the Artist and the Investors.
The InMusik Ecosystem does not only enable fans to stream music without unneccessary extra costs and helps artists to raise funds for Production costs, it also gives fans an opportunity to earn and play an active role in the making of the music they love so much, All these has been made possible with Blockchain technology.
ADVANTAGES OF INMUSIK
The advantages and prospects of InMusik are just much, below are a summery if some if them.
▶ Gives Artists a medium to raise capital for Music production costs.
▶ Gives Fans And Investors an opportunity to invest in artists they like using funds they can afford.
▶ Gives Fans opportunity to earn from Music.
▶ Gives Music consumers worldwide the medium to stream music without having to pay extra costs because of middle-men. In Maestro, Consumers pay for only music they have streamed, unlike existing platforms where consumers pay the full monthly fee even if they don’t stream up to the allocated amount.
▶ Gives the Artists the power to set how much allocation of profits that they want to share with investors.
To learn More about this revolutionary project, check out the links below:
Website: https://InMusik.co
Whitepaper: https://inmusik.co/wp-content/uploads/2018/08/inmusik-wp-v2.01.pdf
Medium: https://medium.com/@inmusikofficial
Linkedin: https://www.linkedin.com/company/inmusik/
Twitter: https://twitter.com/InmusikOfficial
Telegram: https://t.me/inmusik
Writer: Collinberg
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1532780