Introduction
This paper explores the impact of blockchain on the music industry with a focus on the implications technology can have for artists. By investigating the industry’s supply chain, we argue that the on-demand streaming platforms (e.g. Spotify and Apple Music) have allowed consumers to easily access music products but have introduced a level of intermediation between artists and customers leading to inefficiency of the royalty payments systems. The goal of this research is to identify blockchain applications that would enable the disintermediation of the industry, allowing artists to create and capture more value from their own products. This paper discusses some applications and concepts related to blockchain, including smart contracts, record keeping, revenue management, and metadata analysis
At this point, we all know that blockchain will eventually work its way into and revolutionize every facet of industry. If you haven’t realized this by now, you will over the course of the next few years as you witness a complete paradigm shift. For those of you that do know, NOW is our time to start disrupting industry. I’ve decided to start with what I know best: the music business.
Clocking in at ~$50b a year, the global music industry continues to rake in billions, with a disturbingly small percentage going to the artists themselves. Between the well-known exploitation of artists by record companies (just ask Kanye) and the COVID pandemic decimating the live music industry (which accounts for ~75% of artist revenue), I think it’s safe to say that the system is breaking down — it’s high time we came up with something better
What price do artists pay to be marketed and promoted worldwide? They typically surrender the rights to their music in exchange for record labels to market them. By making investment into an artist open and accessible to all, investors from across the globe will suddenly find an interest in promoting the artists they invest in — opening up massive opportunity for independent marketers and influencers. This puts incredible promotion potential into the hands of the artist, while keeping the rights to their music out of the hands of the record labels.
Ecosystem:
1. 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.
2. 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.
3. 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.
There is a better way!
What price do artists pay to be marketed and promoted worldwide? They typically surrender the rights to their music & 50-70% of their earnings in exchange for record labels to market them. By making investment into an artist open and accessible to all, investors from across the globe will suddenly find an interest in promoting the artists they invest in — opening up massive opportunity for independent marketers and influencers. This puts incredible promotion potential into the hands of the artist, while keeping the rights to their music out of the hands of the record labels.
Introducing: The Initial Artist Offering (IAO)
1. Artist Creates Profile & Deploys a Personalized Oracle
With a customized profile in the mp3 catalogue, artists can deploy their own personalized bonding curve curation markets and "tokenize" themselves. DEX widget may be embedded on their website.
2. Initial Artist Offering (IAO)
Artist can be listed and go "public" on the mp3 DEX library, available for fans & speculators to invest in.
3. 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.
Artist Profiles
Artists can set up customized profiles to display their performances, recordings, photos, & biography. This will be essential for those speculating on new artists.
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
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 infor visite us on:
Website: https://mp3finance.com/
Telegram: https://t.me/mp3finance
Twitter: https://twitter.com/mp3finance
Medium: http://hhttps//bmegroup.medium.com
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