Today, I want to continue my series on blockchain related projects by taking a closer look at a platform dedicated to helping unattached artistes collect their music royalties in a transparent way.
Keen followers of the music scene know the daunting challenges and stress faced by independent artistes when it comes to collecting music royalty as well as other compensations. The problem is simple to understand. In many countries, royalty payment is governed by government rules regulations. Musicians have to register with a performance rights organization mandated by law to collect and distribute payments to artistes. As a matter of fact, each country has its own somewhat centralized group for such. For instance: SoundExchange performs the function in the US; PRS or PPL in the UK; and SOCAN in Canada.
The caveat is that , as an artiste, you will not be able to collect royalty on your songs without registration with any of these organizations. As a consequence, indie artistes are exempted from the royalty regimes across the globe, since these musicians neither belong to a distribution label nor to a performance rights organization in their respective countries.
Fortunately, a dual blockchain-based solution has been devised to tackle this problem completely.
Dual Solution?
Well, the solution comes in the form of two platforms: one is an online radio network, while the other is a new blockchain project. The first is the 11-year old Cyber-FM online radio, and the 2nd is called "Mainstream for the Underground" or MFTU. Cyber-FM is a popular for providing adequate airplay for musical artistes of all genres, unlike other radio networks that focus more on pop music. On its own, MFTU is a decentralized performance rights organization for handling music royalties throughout the world. The partnership between Cyber-FM radio and MFTU is aimed at helping performing artistes collect their royalties in a completely transparent environment.
How Possible is This?To start with, Cyber-FM is not new in the business of broadcasting and providing millions of its global listeners with curated music which are not readily available on mainstream channels, free of charge. The new agreement with MFTU will further enable it to serve listeners and artistes better in many ways. Listeners and musicians don't have to pay anything for using both platforms. Also, membership of MFTU is not limited to those artistes already registered with external performance rights organizations. Independent, unattached and even upcoming artistes are all welcome on board.
Key feature of Cyber-FM and MFTU is the introduction of a dual token system. This is to ensure that the platform complies with government regulations in different countries while operating globally. The CYFM token, for example, is for artistes already registered with royalty rights organizations and it'll be used to pay local regulatory agencies. On the other hand, the MFTU token is a cryptocurrency, which is a truly decentralized royalty payment coin for artistes.
However, both tokens are distributed free to registered members on the platform via airdrops and sign ups. Listeners and fans can use both tokens for song downloads, tipping favorite artistes, and purchasing merchandise on online stores.
The combination of Cyber-FM radio with MFTU will make it very easy for artistes to track their song's performance and calculate potential royalty compensation. Moreover, Cyber-FM has a remarkable record of bringing independent artiste into the limelight through its user- outreach. At the same time, those artistes continue to have their royalties maintained, protected, and adequately compensated.
In ConclusionWith the foregoing, I can safely conclude that Cyber-FM is poised to disrupt the entire music industry by ushering in a new era of decentralization in the collection and payment of music royalties.
#CyberFM #Investment #Cryptocurrency #DistributedLedger #RadioOnline #CYFM
For more information about Cyber-FM and MFTU, please visit the website as provided in the link below.
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Questions regarding Cyber-FM are welcomed from our esteemed readers.
Cyber-FM is much more than just another whitepaper, Two Products, One Organization, Eleven years of running. This is one of the many reasons I have got confidence in this project.
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I’m gonna introduce this platform to my friend who is a very talented upcoming musician, and would need such a platform for his marketing.
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Has the team ever considered about tokenburn? 102 Billion is just outrageous
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No a burn is needed, read the usecase to understand why such supply is needed.
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I have read everything and it is still too much, the supply of the top 10 coins put together is not even up to the supply of this token.
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Let me tell you this, When we talk about SUPPLY for CYFM, you have to remember that they are solving a legal issue for all Countries based on their law. There's currently 7 billion people in the world. Legally (in theory) every single person in the world is supposed to be accounted for when paying Royalty payments to the Country.
Imagine how many CYFM you would need JUST TO PAY FILSCAP in the Phillipines for Phillipines Music?
Add ASCAP / BMI / SESAC in the United States
Add SOCAN in Canda.
That's only 3 Countries... for project success. based on individual laws, 102 Billion CYFM is actually a small number.
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If you are explaining that Cyber-FM needs 6 billion tokens because the whold population in the world is 7 billion.. that's ridiculous.. you need to only count the population who are aware of cryptocurrency. Most of the 7 billion people all over the world will pay the Royalty payments(whatever it is) with a CASH. please find better reason to keep whole supply more than 6 billion. that's pretty enormous amount.
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Guys don't part with your CYFM easily, most of the money going out from ETH are not actually leaving, they are moving to Tether. Lots of them are eyeing great projects they will jump in as soon as the market shows a sign of recovery.
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Flippers have really done a bad job by dumping this coin, hope they regret in the future.
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I wonder why Cyberfm and MFTU aren’t listed on big exchanges yet to let the price rise.
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Haha we need no pump and dump, just let them do their work and people will know its a good product
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Patience people. All good things come to those who wait.....and this project is worth waiting for! It has a great community behind it that will drive it to the next level.
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I heard there’s a big announcement in a few days, I do believe the team would surprise all of us being a project with no ico and with all the experience they’ve got.
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I think this project needs a clear and more detailed whitepaper. I like the project and i don't mind supporting it.
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Who are the competitors in this kind of project? And what is the advantage Cyber-FM has over them?
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There’s quite a few projects who “think” they are competitors. But the ACTUAL truth is, MFTU is the ONLY one accomplishing BOTH Radio Broadcast Royalty resolution AND also the only Distributed Ledger Performance Rights Organization in existence.
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This is one of the crypto projects that truly support a particular cause. Great job from the team of developers.
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I just downloaded the app from playstore, I love the concept and would gladly check them out.
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The transparency and simplicity of operations make this project attractive.
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Nice my dear
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