Musiconomi, announced a public crowdsale for its token Musiconomi (MCI), commencing July 28, 2017 at 11 am EDT and concluding August 28, 2017 with a minimum threshold of $6 million USD and a maximum cap of $18 million USD. A new Blockchain-based music ecosystem is releasing a new approach in music economy that works for all participants (artists, users, industry experts). The MCI token will grant users the access to different features and tools within the platform. Musiconomi is the second startup to pass through Cofound.it’s crowdsale incubation program and will leverage its Priority Pass mechanism as a part of the sale.
Musiconomi Chief Organizer Elio-David Di Iorio said:
“Musiconomi is a Blockchain-based platform, which in addition to being a world-class streaming service, encourages musicians, fans and industry experts to share, collaborate, and participate by offering immediate payment.”
“The legacy music industry is hampered by the number of intermediaries taking significant portions of revenue and leaving artists with just a small fraction as well as little visibility into the process and no way of verifying that they were justly compensated. Given the global scale and annual revenue of the music market, many artists can be discouraged by how little reward they personally receive. Musiconomi, which makes all transactions visible via the Blockchain, offers unprecedented transparency to the industry and removes intermediaries, rewarding artists and experts more fairly for their work,” he added.
“Unlike traditional music streaming services like Spotify, Google Music, and Pandora, Musiconomi is built to include non-musicians to participate directly in the music economy. Musiconomi’s initial focus will also be on independent musicians and micro-labels, which are currently not well-served by the traditional music industry. By empowering anyone, located anywhere in the world to participate, Musiconomi will disrupt the growing $15.7 billion music industry.” Di Iorio said.
In addition to enabling musicians to release their work, create simplified licenses, and get paid directly and immediately for each play, Musiconomi also incentivizes users to share tracks socially by rewarding them with Musicoin currency. Each artist is in complete control of determining the reward for their albums and tracks, letting them choose between higher revenue or more promotion at the granularity of an individual track.
Entrepreneurial music enthusiasts, such as marketers and audio technicians, are also able to use the platform to provide and be compensated for their expertise. MCI token holders will gain access to the Musiconomi platform’s plethora of features including playlists, radio streaming, virtual merchandise and ticket storefronts.
Musiconomi is an expansion of the platform built by the Musicoin Project which has already successfully launched a cryptocurrency and beta Musicoin platform with more than 4,200 users. Musiconomi will run on the established Musicoin Blockchain and use smart contracts to automate the collection and disbursement of payments to musicians each time a song is played.
Musiconomi’s Board of Advisors includes leaders in Blockchain technology space and the music industry such as Addison Cameron-Huff, a Blockchain Law Advisor specializing in technology law for Internet-based software companies in bitcoin and Blockchain; Cybersecurity, AML and Compliance Specialist Erin Taylor, who specializes in Human Resource Management; Business Development and Legal Advisor Jeff Dennis, who brings experience in counselling fast-growth companies on strategy and finance; Copyright and Licensing Specialist Eden Dhaliwal, a leading entrepreneur and Blockchain strategist; Business Partnership Development Lead Anthony Di Iorio, a thought leader in the decentralized technology industry who serves as CEO and Founder of Jaxx and Decentral, and was a Co-Founder of Ethereum; Music industry expert Mike Turner, also a founding member of rock band Our Lady Peace (OLP), who have sold more than 5 million records worldwide; and International Music Consultant Tristan Keyte, an expert in music production management and entertainment.
Musiconomi Chief Organizer Elio-David Di Iorio said:
“Our experience of building the Musicoin platform gave us a strong sense of how empowering and transformative Blockchain technology can be. We have seen a tremendous appetite for the solution that Musiconomi represents, and we have also seen that the potentials are truly infinite. Bringing the financial resources to our strong team of founders, advisors and partners, and with the support of a talented, diverse and passionate community of artists and music enthusiasts, we are confident we can deliver on facilitating a new music economy that works for everyone.”
A total of 100,000,000 MCI tokens can be distributed in the crowdsale, and funds raised will be used to drive the development, expansion, and adoption of the platform. 70% will be going to development, 21% to marketing and PR, and 9% to administrative, legal, and overhead over the first 24 months.
Supporters can participate in the Musiconomi crowdsale with Ethereum (ETH).
- Enjin Platform Enables Game Developers to Integrate Blockchain Assets Without Blockchain Coding Experience - February 18, 2020
- Blockchain Project Cashaa Protecting Crypto Companies to Survive Fifth Money Laundering Directive and New FCA Rules in 2020 - February 8, 2020
- US SEC Boss Hester Peirce Suggests Three Year “Safe Harbour Period” For Token Sales - February 6, 2020
- China’s Hyperchain Plans to Take on Coronavirus With Blockchain-Fueled Donation Platform - February 6, 2020
- Blockstack Proposes Using Bitcoin, Novel ‘Proof of Transfer’ To Accelerate A Truly User-Owned Web 3.0 - February 6, 2020
- Hack Blockchain To The MAX! €15.000 Prizepool at MAXathon in Berlin April 18-19, 2020 - February 6, 2020
- Chiliz And Enjin To Launch Blockchain Collectibles Using NFTs For The Likes of Juventus, Paris Saint-Germain, Atlético de Madrid and West Ham - February 6, 2020
- MIT Researchers Claim to Boost Bitcoin and Cryptocurrency Blockchain Transactions By 4x with New ‘Spider’ Routing Scheme - February 4, 2020
- Canada’s Blockchain Intelligence Group Signs USD$540,000 Contract with United States Feds - February 4, 2020
- The United States Marshals Services to Auction 4,040.54069820 Bitcoin – USD$37 Million - February 4, 2020
- OpenLegacy Project Gets $20m Strategic Investment from Japan’s SBI Holdings – Focus on Blockchain - February 4, 2020
- Fastest Growing and Highest Revenue Mobile Messenger App in the World, Japan’s LINE to Launch LINK Cryptocurrency - February 3, 2020
- Insolar to Launch MainNet on February 3, 2020 – Debuts Insolar’s New XNS Token - February 3, 2020
- Blockchain-Based Social Media App Vid with VI Tokens – To Launch April 1, 2020 – After VC $10 million USD Investment in 2019 - February 3, 2020
- UK FCA Licenses BCB Group as First Crypto Company to be Regulated as Authorised Payment Institution - January 31, 2020
- Virgil Griffith Pleads Innocent in Blockchain North Korea Event Case – Faces Up To 20 Years in Prison if Convicted - January 31, 2020
- University College London Centre for Blockchain Technologies Releases New Report on Supply Chains - January 31, 2020
- World’s Leading Research and Advisory Company Gartner Says Blockchain Smart Contracts Can Increase Corporate Overall Data Quality by 50 Percent - January 31, 2020
- Dubai Wants to Clone Crypto Valley in the Desert - January 29, 2020
- The National Bank of Cambodia (NBC) to Launch Blockchain-Based, Central Bank Digital Currency (CBDC) - January 29, 2020