Muzika - Transforming the Music World through Blockchain

ICO market is nowadays pretty similar to the Wild West during the gold rush period. It is possible to earn money very quickly, sometimes even good money, but you have to find a perfect spot, or in this case, a good project to invest. Common thing to the Wild West? No guaranties and almost no law. It is pretty easy to find bad cowboys which are going to promise you golden mountains to steal your last piece of bread. So in all this mess, if you want to find your gold nugget, you can trust just your own brain composites.

After my research, I found this project in which I really put my faith: MUZIKA. Very likely you haven’t heard about them, project is made by great team members. Nevertheless, guys have an advantage, many other teams does not: already existing product made on a very perspective field. But these are not all pluses I found in this project. Below you can read the analysis and decide on your own, do you want to send some pennies to the pot.

Muzika revolutionized the music industry by establishing an independent and true digital music ecosystem that would eliminate unnecessary intermediaries, empower musicians and consumers, decentralize distribution power, and restore the balance of economic distribution among market participants.

Muzika aims to lessen or remove profits from distributor, producers, and platform that will make music artist to gain more profits. Muzika is a free to use platform for music artist, “free” means no commissions or profit will be deducted from musicians that’s why musicians will get 90% of the profit using Muzika. Unlike other ICO’s they will start with proven service just they will improve it the platform behind Muzika is Mapiacompany Inc. the biggest and first online piano music platform in South Korea with more than two million users. It’s a good start since forty percent of South Korean’s are music streaming subscriber, highest among all nation. Muzika strives to create such a music system that will radically change the entire music industry, give it independence from various intermediaries, expand many opportunities for all users of the platform, make it completely decentralized and create economic stability.

PROBLEMS

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.

SOLUTIONS MUZIKA OFFERS

More engaging and rewarding

Muzika platform will revolutionize the production, distribution, and consumption of digital music. With the support from Ontology (one of the well known and respected blockchain projects in the crypto community), Muzika will be able to introduce blockchain technology in its platform and build an integrated platform which aims to connect artists and fans directly hence increasing the artist’s profit and fans get rewarded for participating in community activities like consumption | sharing | brainstorming in music creation, hence creating a more engaging way for fans to connect with artist and vice — versa.

Defend creativity

Muzika platform will also help to defend artist creativity.Protecting all elements of an artist’s creative work from being leaked online in the run-up to its release is a key focus for record companies. Criminal organizations

seeking to profit from illegally obtaining the record before it is fully ready for release jeopardizes the work of artists.

Use of blockchain platform will save music, content and its related information (e.g. artist, date) to be securely saved in the blockchain and share music securely, and ensuring only the agreed recipients are accessing it.

MUZIKA ECOSYSTEM

The ecosystem consists of smart contacts, thanks to which performers and listeners among themselves will honestly and transparently exchange musical works. Blocked and intelligent contracts on the platform will be used to protect the copyright of performers.

Fans will also receive an award in the tokens of the MZK platform for participating in various competitions and other events. They will be able to vote for the best artist and directly sponsor them, encouraging them to create new music content.

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.

TOKEN AND ICO DETAILS

Token: MZK

Standard: ERC20

Main sales: 205 million MZK

Total will be released: 1,000,000,000 MZK

Hard cap: 20,000 ETH

MZK is an ERC20 token built on top of both the Ethereum and Ontology blockchain network. However, in the future, Muzika plans to develops its own protocol blockchain specialized for community-based applications that facilitate all digitized forms of creative works.

The MZK tokens are used as an incentive mechanism to foster greater participation amongst community members. Members earn MZK tokens for creative brainstorming, exchange of feedback, and more.

ROADMAP AND DEVELOPMENT PERSPECTIVE

Above you can see the roadmap — how the team sees their nearest and long-term future.

TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT

Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field.