20 BTC a day flowing into IPO, is extremely huge amount of money for crypto scene projects in current state of market developement. Any guess where is such a huge deamnd coming from?
I do believe there is some limited intent behind the coin but if these people know anything about the music scene they know very well this project wouldn't even be able to take on even the smallest online retailer let alone the major ones. The music industry is really huge - much much larger than people generally perceive. The huge vested interests in keeping the status quo completely dwarf any possibility of further upheavals. Be assured the music industry is very tired of that now, and with justification. It was the first industry to experience the online phenomena/piracy and its only the last five years max its been able to recover. For 10 years the music industry went through many violent changes. The artists, labels and distributors have had enough. Artists now know the internet didn't empower them at all. That was made up up by P2P crowd who obviously had vested interests The people running this project know very well it will never get off the ground in terms of any meaningful widespread adoption.
A: No major artists can ever sign up to this unless they are a completely unsigned entity (chance of that almost 0%) . That means you cannot trade their music period.
B: As well as major artist no major label will sign up. That means their vast catalogs cannot be used
C: Small and indie artists would have been the best avenue for catchment but its much to complex. Same goes for their fans.
D: When you really get down to it what is there offered here for any artist they cant already do. These days releasing a single is nothing more than PR. Its the modern day flyer.
The general public can listen to music 24/7 completely free from a wealth of sites out there. Spotify and Pandora are probably the best examples of that but there are many many more which include niche operators. When it comes to buying music its a one click operation from Apple, Amazon, Google or whatever host you wish to use. None of them require any of the public to understand anything about the behind the scenes process and they certainly dont have to worry about wallets, bitcoin, exchanges etc.
If this project were fully genuine and serious and made in a way to genuinely empower artists and their fan base I would be all for it. But its not. This is a pure enrichment scheme for a few people using the music industry as the vehicle for it. I do take exception to that because I'm a bit pissed off at how the music industry has been kicked around and abused by anyone with any kind of vested interest - particularly the p2p evangelists.
Should you invest in this: Totally up to you. Invest in it only if you think the coins value will rise. Dont invest in it if you believe this project will change teh face of the music industry. Its pure gambing.