The existence of blockchain will return control back to the musicians, not the record companies or distributors, because they can immediately see the flow of royalties coming from anywhere, shared with anyone, at any time. Maybe it can also ensure a larger portion of the musician's income too. And over time, there has been a very innovative platform that synergizes in the music industry, namely MP3 finance.
BME Group is a collective of developers from around the world contributing to the decentralization of the entertainment industry & empowering those who create.
We here at Blockchain Music Entertainment are committed to disrupting the entertainment industry by building a suite of decentralized financial tools that will empower the next generation of recording artists & film/content creators. We are first tackling the music industry with ‘mp3 finance’, as we have introduced in our previous article. We are holding a presale for the MP3 tokens this Friday 2/5, and we wanted to discuss the tokenomics and structure of how this ecosystem will be built; as well as the pertinent information regarding the sale.
Ecosystem
MP3 :
The utility token for the Music Industry DAPP; this will include bonding curve and NFT based financial products to empower recording artists and help to decentralize the music industry. This is the first token to be released and is the first product in development.
BME :
The governance token of the Blockchain Music Entertainment Decentralized Flexible Organization (DFO); The home base of the decentralized and transparent development of the DAPPs. BME will be distributed to MP3 holders 1-week from the end of the presale/Uniswap listing based on a snapshot. Once distributed, it may become tradeable once liquidity is added. BME will include rounds of LP farming, and will eventually become necessary to farm MP4 in the future.
MP4 :
The utility token for the Movie Industry DAPP; this will include financial products to empower independent film & content creators, as well as influencers. The blueprints are still being drafted for MP4 and will likely be introduced to the ecosystem later this year in Q2 or Q3.
What are the Benefits for the Artist ?
What price do artists pay to be marketed and promoted around the world ? They usually give up the rights to their music in exchange for a record label to market it. By making investing in artists open and accessible to all, investors from around the world will suddenly become interested in promoting the artists they invest in - opening huge opportunities for independent marketers and influencers. This puts tremendous promotional potential in the hands of the artist, while keeping the rights to their music in the hands of the record label.
Artists have the power to navigate their career with little or no intermediaries. While operating on the blockchain, they can choose to pursue a music career without record labels, banks, lawyers, etc.
Using blockchain technology, artists benefit in record-keeping. Data and transactions are validated and confirmed by multiple sources across the network, timestamped, and secured using cryptography.
Artists receive their earnings in real-time. Fan-to-artist transactions take place without intermediaries.
Artists can create profiles using Personalized Oracle
With a customized profile in the MP3 catalogue, artists can deploy their own personalized bonding curve curation markets, and “Tokenize” themselves. A smart contract that is able to generate secondary tokens, or “shares”, based on a floating price point. Shares are created by staking value (MP3) to the contract and can be redeemed or “Unbonded” at any time for the value of where the pricing function is at; thus providing the ability to create markets without the logistical hangups of exchanges, liquidity, market makers, or orderbooks, as this essentially facilitates all of those functions through a smart contract interface. A widget that may be embedded on their website will provide the DEX for their “Token”.
Initial Artist Offering (IAO)
Artist can be listed and go “Public” on the MP3 DEX, available for fans & speculators to invest in.
International Exposure
Independent marketers & influencers profit from the promotion of the artists they invest in; Artists profit by unbonding their initial equity ‘shares’ at a higher price point on the bonding curve. Everybody wins.
MP3 Token Sale Security
We are taking EVERY possibly measure to insure the safety of this token sale and launch. I have been in close contact with the owner of $WORLD and after confirming proper function and seeing their safe and successful token sale on the Safu Investments platform, we have decided to utilize it ourselves. It is an incredible new platform that provides automatic Uniswap listing and liquidity lock immediately following the sale. We chose to go with a 1 Year liquidity lock of 50% of the raised funds. For even more security assurance, we have partnered with Solidity Finance to audit our contracts; ensuring that we have a solid and successful launch.
MP3 Token Sale Details
Allocation For Raised Funds
Roadmap
2020 Q4
November
Inception of concept , drafting - COMPLETE
December
Team Building, Backend development begin - COMPLETE
2021 Q1-January
Medium Article Introduction - COMPLETE
Website Published - COMPLETE
Github Release
2021 Q1-February
MP3 Presale
Uniswap Listing
Snapshot for BME Airdrop
BME DFO Created
BME Airdrop
BME LP Farming Begins
MP3 Front End Development
2021 Q1-March
Artist Partnerships
Project/Corporate Partnerships
MP3 DAPP Alpha Testnet
2021 Q2-April
Artist Profile Section Opens
MP3 DAPP Beta Testnet
MP3 Gitbook Published
2021 Q2-May
MP3 DAPP Mainnet
MP4 Development Begins
Conclusion
Blockchain technology represents a decentralized ledger where you can record transactions and monitor changes related to transactions over time. This will be the perfect foundation for music rights management.
Blockchain can provide new growth for traditional music players. Blockchain will not interfere with the entire industry. You can see what has happened in the financial and Blockchain industry, the biggest players are investing in technology right now. That's what will probably happen in the music industry too. There are ideological goals such as openness and transparency.
For more information, visit us on :
Website : https://mp3finance.com/
Telegram : https://t.me/mp3finance
Twitter : https://twitter.com/mp3finance
Medium : http://hhttps//bmegroup.medium.com
Author : roses80
My BTT : https://bitcointalk.org/index.php?action=profile;u=2759948
My ETH : 0x1f971c4996629EBCB3E6baEe12b3c61E964aFf88