INTRODUCTION
Blockchain is undeniably changing tha fac of the digital. However, existing blockchain music services focus solely on improving established strraming and distribution structures, and fail to address fundamental problems of the current industry. Future music product developed with blockchain, umlike their predecessor, must utilize the technology to provide innovative that revolutionize the music industry at its core.
Maestro started such a need, to solve a problem that plagues the music industry today: namely, the unfair structure of the industry itself. Third parties, such as labels and agencies, currently reap in 80% of generated profits, leaving artist with barely any support and struggling with financial burdens. Music player companies only exacerbate this inequality through inefficient bureaucracy. We at Team Maestro believe that for both music and its industry to thrive, we must provide an environment focused foremost on promoting the creative efforts of artist and guaranteeing their fair compensation. Therefore, we propose a blockchain based music platform that acts as a creative ecosystem established on virtous cycles of mutual cooperation between creators and consumers. Music distribution rights are currently monpolized by third parties such as labels and production companies, who have used their influence to control the resulting profits. The inequality inherent in such a distribution structure affects not only artists, but also consumers, who become burdened with unreasonable prices they must pay to enjoy music. Maestro aims to create a transparent industry through decentralization with blockchain technology. By leaving out "middlemen" from the process, consumers will be able to use streaming sservices at considerably more reasonable prices.
Maestro is primarily composed of two parts: " symphony", the streaming services, and "Ensemble," the crowdfunding center. Artist can raise funds for their projects prior to production through Ensemble. After completing the project, they can then distribute their crations and generate revenue through Symphony. The distribution and handling of rights, copyrights, and transaction are all transparently executed through Symphony in accordance with data recorded on Maesro's blockcahin.
Maestro will become the new paradigm for the music industry. We at Maestro will provide and environment that allows for unhampered creation as well as an ecosystem that fairly divides rights of songs between artist and investor, and profits among all token holders. Maestro aims to revolutionize the bureaucratic industry and to cooperate with existing parties to ultimately aid and nurture a greater diversity of artist.
Status of The Market
Today's media are no longer focused on television and physical albums. Digital music profits account for 50% of global recorded music revenue, and the music market is continously growing even now. The digital music industry generated a revenue of $7.8 billion in 2016, recording growth of approximately 17.7% over 2015. The growth of the music market can be attributed to the development of digital devices, the dissemination of music production services, and the diversification of music channels and other outlets. Many artist can now create and present high quality music more easly at lower costs.
The structure of the music market has also changed. The focus of the industry has shifted from downloads of streaming, with streaming taking up 60.4% of all generated revenue, and 112 million active users subscribed to paid streaming services. The total number of streaming distribution to date from Spotify, one of the biggest streaming services in the industry, exceeds 10 billion.
Technological advancements such as faster telecommunication speed, dissemination of AI speakers, and development of connected cars are expected to further accelerate future growth of streaming services. It can be safely predited that structure of the music industry will continue to shift towards a streaming based paradigm.
Overall structure diagram of Maestro
Funding and Token Distribution
MAE's are provide through snapshot of the wallets in Ensemble. Platform profits are allocated once per week. The Maestro team's goal is to decentralize the profit structure through blockchain technology. All platform profits are affected by the number of MAE's held. Unsold tokens will be destroyed. Due to inflation, issuence of additional tokens to take place once per year, and further issuance is prohibited as a rule.
- Soft cap for ICO: None
- Hard cap for ICo: 62, 000 ETH
The Maestro is under way with the project already, with KRW 500 million funding. Consequently, there is no set soft cap, and the project will proceed regardless of whether we achieve the target amount or not. After the 2nd ICO, there will be no additional token sales.
Token Allocation
Token Usage after ICO
Total usage of tokens can be divided into five components: 40% on engineering and software development; 25% on marketing and business development; 15% on operational expenses; and 10% each for license fees and legal expenses.
MORE INFORMATION
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Created by : 15persenlucky
profile link : https://bitcointalk.org/index.php?action=profile;u=1210666
ETH address : 0x1997B312D6e9cB863f939f9a7cEa3A36Ec185E69
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