So I was recently looking into the Vezt ICO and then looked up possible competitors and found $MUSIC. I really like the idea of reserving a % of each block reward to fund free streaming on the Musicoin network. I think this coin can be a successful streaming service.
I feel that most people still torrent music for downloads so I don't think the selling of songs will be as successful. People who really want to support an artist will buy the song but I don't see it being much bigger than that. This would be very good though for indie artists who self-promote.
What sort of marketing is being done to have Musicoin adopted by larger artists? That is where I think Vezt wins. Although their concept is different, they already have contracts with major artists such as Kanye, Drake, and others.
Ultimately, I think Musicoin's biggest potential would be an ad-less Spotify. But I need to see more marketing and development to be convinced to buy in to this project. Just my thoughts. I'd love it if someone here could convince me.
I agree. Torrenting music is nearly impossible to stop but we can curtail it in a way that users do not feel inclined towards it. We do this by giving them instant access to music right on their fingertips, for free. Instead of imposing limits that are linear and restrictive for listeners, we enable them with the freedom and flexibility to decide how they want to support their favorite artists, through tipping and future freemium features. This is all done on free wills.
While having well known artists on Musicoin is a plus, they are not what we are targeting on at this moment. We created this platform mainly for the aspiring and self-made indie artists, the kind of people who are struggling to get by as musicians. For them, being a musical artist should not be frowned upon nor seen as inferior to other traditional career paths. This conventional thinking must be changed, and we do that by revolutionizing how the masses sees musical creations in the 21st century. Simply poking at the big bear would not help to solve the existing problems in the industry, it only creates more problems.
To give you an idea on our targeted client-base, here’s a statistic data from 2013 (
https://www.statista.com/statistics/192692/number-of-independent-writers-artists-and-performers-since-2000) on the number of indie musicians and composers there are in the US alone. This trend is only continuing to rise annually. There are more indie musicians in the world today then there are mainstream artists.
We admit that we lack in the marketing side, this is one of the key area we are aiming to improve over the next few months, and throughout 2018. Currently, we are seeking recruits to become new additions to our team, so that we can deliver more contents to our community.
If you are new to our project, welcome to Musicoin! We have recently released an updated version of our white paper based on the new platform model we have just implemented last month. You can read more at
https://medium.com/@musicoin/musicoin-project-white-paper-v2-0-6be5fd53191b.