MUZIKA-Blockchain Bassed Music Ecosystem

PROBLEM

Music Industry: Music industry is an industry fraught with substitutable intermediaries, piracy, and economic imbalance - a market ready for blockchain and its technological idealism. Musicians and fans are the real value creators in today’s music industry,
but they are not properly rewarded for their value creation.

Musicians are starving. Everyone listens to music, more people pay for music, but artists are still not making money.
Fans (that’s us) are still pigeonholed as consumers, though we are the ones who actually make super-stars! We devote our time and effort to vote, make cover songs, go viral, and even write fictions for our favorite artists, but no one rewards our effort and devotion.
Intermediaries (distributors and platforms) are making excessive profit for one time and unsophisticated tasks of 'transferring' the ready-made values.

SOLUTION

While other music blockchain projects generally focus on peer-to-peer transaction, we believe such methodology is a philosophically immature and technologically shallow application of blockchain and is incapable of revolutionizing the entire industry due to its lack of network effect – a gross advantage that existing platforms and parties like Spotify, iTunes, and Universal Music hold. The industry cannot be redeemed simply by introducing a system that allow a larger share of revenue to musicians – the key lies in the fans. Fans have to take part in the system in order for the net revenue to be meaningful. By example, 10% of 100 dollars from iTunes is better than 80% of 10 dollars from an independent peer-topeer transaction system. That is why, instead of a transaction mechanism that we dub the 1st generation music blockchain, we firmly believe that the solution lies in the establishment of a self-sustaining, symbiotic music community in order to truly move the current power structure towards decentralization – we are building the Token Economy for Music, the 2nd generation of music blockchain.

Muzika will revolutionize the music industry by establishing a self-sustaining and righteous digital music ecosystem that will (1) eliminate unnecessary intermediaries, (2) empower musicians and consumers, (3) decentralize distribution power, and (4) restore the economic balance among market players. Muzika holds the promise of a future where economic compensation for a musical creation becomes proportional to the effort and dedication put into the creative process. A much more detailed description of the ecosystem structure is laid out in our whitepaper.

You can also see the second video below to see how the project works from Muzika :

WHAT MAKES US DIFFERENT

Previous Attempts Failed to Secure Large Userbase

Previous music blockchain projects have overlooked the importance of a large userbase to achieve widescale adoption. These projects have demonstrated that it is possible to give a higher commission rate to artists for their work using Smart Contract transactions. However, for artists, the low commission rate offered from traditional music streaming apps that had huge userbases were more attractive than blockchain apps using Smart Contract transactions. Case in point, a 10% commission of $1,000 from iTunes was preferable to 90% commission of $1 from a Smart Contract transaction.

Muzika Will Create A New Economy To Incentivize The Users

Muzika aims to provide musicians the best of both worlds: a higher commission rate for their creative content and a strong userbase. Muzika has developed a strong system for incentivizing fans to contribute to the Muzika ecosystem. These incentives will build the userbase necessary for Muzika to provide both higher commissions to artists along with the mass userbase of traditional music streaming sites. The network effect from a mass userbase will be the key to developing an autonomous, self-sustaining ecosystem. In other words, Muzika can provide musicians with 90% of $1,000.

We Have Done It Before

Muzika has already made significant achievements towards the development of sustainable solution to inefficiencies in the digital music industry. In 2015, co-founders of Muzika saw an opportunity in the online instrumental music industry and started online instrumental music platform Mapiacompany. In just over 3 years, Mapiacompany has become the #1 global instrumental music platform with over 2 million users. Muzika will build upon this existing userbase and community.

THE MUZIKA ECOSYSTEM

Muzika will create an autonomous, self-sustaining ecosystem driven by artists and their fans in tandem, where compensations and rewards will become proportional to the level of devotion put into musical creations and ecosystem behind them.

Smart contract will allow digital musical products to be transferred directly from artists to fans, ensuring fairer and more transparent economic distribution.
Fans will be rewarded with loyalty points for their various community activities, which will be regularly converted into MZK coins - the sole medium of exchange for all economic activities in the ecosystem.
Fans will have opportunities to make direct sponsorship to their favorite artists, supporting them and receiving exclusive benefits in return.

MAJOR FUNCTIONS

Community Building:The Muzika ecosystem will contain all the functions and activities necessary to truly achieve self-sustainability.
These range from creative brainstorming, crowd-funding, exchange of feedback, and more.

Commercial Items: Muzika will incorporate major features that have made players in the traditional digital music industry successful. We will provide community members with marketplaces for streaming, sheet music, instruments, and more.

Sponsorship Opportunities: Users may sponsor artists and become their patrons in various ways including regular subscriptions. As patrons, users can enjoy exclusive & sponsor-only products, services, and opportunities to be inolved in the creative process of a musical product.

Community-wide Programs: The real bread and butter of the Muzika ecosystem will be the spirit of creativity. Community programs and events such as auditions, contests, crowd-funding drives, live-streaming events, and other such activities driven by member involvement will be a focal point of Muzika.

ROADMAP

For further information, please visit the following link:

• Website: https://www.muzika.network/
• Whitepaper: https://www.muzika.network/assets/mzk-whitepaper-en.pdf
• Facebook: https://www.facebook.com/muzikanews/
• Twitter: https://twitter.com/muzika_official
• Telegram: https://t.me/muzika_english
• Reddit: https://www.reddit.com/r/muzikaofficial/

Nanknink boy

Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1711766

ETH wallet: 0x0a6df15F096df7EAeC35C1952EeDfD9213Ebb45C