Many definitions have been given to music. To most people;
a. Music helps them communicate effectively how they feel,
b. Music helps them find the perfect words to express themselves,
c. Music helps them explore their emotions.
But all these can only take place if two factors are met;
i. Is the music enough?
ii. Is the artist good enough?
The first comes in handy, but the second matter a lot. The artists who own this music will they keep producing more? Or will they just vanish after the first release?.
In my own understanding, if an artist is duly encouraged and rewarded for his previous efforts he will do more. So if an artist isn't properly rewarded there are chances he might miss out; the reason why most times you will hear a good music today and tomorrow the artist will be nowhere to be found. All these are about to change because a unique project out there aims to bring a great turnaround in the music industry.
Before that, in the world today most countries implemented a royalty payment method which is regulated by the government. The purpose of this is to ensure artists are duly rewarded for their efforts thus encouraging them to do more. In a quest to meet up with the requirements of the regulating authorities music platforms implemented ways; such as SoundExchange which is based in the USA, collecting payment for online broadcast through membership system.
On the other hand, large online radio networks are adding fees to valuable content with either subscription systems, membership perks and host of others.
In the world today, there is a trending technology on the ground, known as blockchain technology filled with numerous benefits, possibilities and potentials thus disrupting many systems, sectors etc, since this is true, a team of professionals aims to leverage on this technology so as help artist discover their better selves. This project is known as CYBERFM AND MFTU (Mainstream For The Underground).
The team behind this project created an open-source royalty payment model based online and with a peer-to-peer reviewed information which will be available globally through a Distributed Ledger System Or Blockchain Technology. As it is with blockchain that every project will have its own token or cryptocurrency, this music platform isn't an exemption, thus the ecosystem has a dual token known as:
a. CYFM for CyberFM,
b. MFTU for Mainstream For The Underground.
CYFM, MFTU AND THE MUSIC INDUSTRY
As earlier stated, each blockchain based projects always have its own cryptocurrency. The blockchain chosen depends on the team and what they want to achieve so as to get the necessary results.
CYFM and MFTU are both ERC20 token, meaning they are based on Ethereum blockchain. Both these tokens are used for the creation of a universal payment system, thus arming the platform to be able to collect royalty payments for performances when it's time throughout the globe.
It's worthy to know that each of these tokens has a specific use;
a. CYFM token is used to represent a regulated and compliant token or currency for artists who are currently members of a particular local representation.
b. MFTU token is slightly similar but in this case used to represent the first and global truly legal, digital, fair and cryptographic Performance Rights Organization meant for Independent Artists anywhere in the world. MFTU is used to protect their rights and payments across the globe.
Furthermore, these tokens can also be used to carry out a particular aim, such as complimenting fiat payments for registration fees, online radio memberships etc.
CONCLUSION
A group of experts aims to create a blockchain-based music ecosystem which will be powered by CYFM and MFTU.
MFTU and CYFM ecosystem represent a universal International digital form of money which will be used to reward artists, performers, musicians anywhere in the world.
These individuals whether artists, performers or musicians will be rewarded, not taking into consideration the Performance Rights Organization they belonged to. But, when it comes to full incentives such as additional perks, rewards, income only the full members of the platform will have access to such.
FOR MORE INFORMATION ABOUT CYBERFM AND MFTU VISIT THE LINKS
Join the Telegram Group: https://t.me/joinchat/EgF1dkxE_N0efcR_ff5gYA
Follow on Twitter: https://twitter.com/mftu_currency
Follow on Facebook: https://www.facebook.com/cyberfm
Website;
MFTU: https://mftu.net/site/
CyberFM: https://cyber-fm.com
ANN Thread:https://bitcointalk.org/index.php?topic=4511705.0
Whitepaper: https://mftu.net/site/whitepaper/
Writer's Bitcointalk Username: Emmy92
Writer's Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1329140