In almost every country, the government regulations institute the royalty program for the music industry. This is to make sure that artists are fully rewarded for their efforts. In order for artist to benefit from this royalty program, some organizations have to exercise the right to be accredited. This is what the SoundExchange in the United State does. These organizations collect the payment online via the system. In order to reduce the effect of these payments, giant online radio stations broadcast music to generate money using traditional advert system, membership privilege and subscription setting.
Introducing the Cyber-FM
Cyber FM has positioned itself to challenge this online radio in some ways. Cyber FM, having been in operation for 10 years, has furnished listeners with music which is not available on mainstream radio. While doing this free of charge, it is working with Mainstream for the Underground (MFTU) in order include a new option in which all users (artist and listeners) gets rewarded with tokens.
MFTU, with the help of an open source royalty payment model, operates worldwide via a distributed blockchain system. The system makes use of a dual token model (the CYFM token and the MFTU token) for global operation in order to bring about favorable government regulations. The tokens all operate based on the Ethereum blockchain that can help create a universal payment system. With this, royalties are easily collected and paid all over the country.
What is the Cyber-FM Offering?
One of the interesting aspects of the Cyber FM is that it will broadcast programs that tell audience and listeners about cryptocurrency. Asides, people also get to promote their ICO programs on the channel. With CYFM token, ICO publishers can pay for adverts on the Cyber FM.
Users will be able to enjoy Music not available on the Mainstream. This translates to the fact that one will be able to enjoy music that many people cannot enjoy.
The Cyber FM has also been able to bring together Mainstream and underground artist. As a result, talents yet to be discovered can also feature on the mainstream. Any upcoming artist can register with the MFTU and have their music broadcasted on the Cyber FM. Not only will they get rewarded with MFTU tokens, their rights are protected as well.
Since most Smart phone device can access the internet, Cyber FM will be available to everyone free of charge.
The token of the Platform
The CYFM token, a cryptographic form of token, is in compliance with all regulatory requirements for players on the local representatives.
MFTU tokens, similar to the CYFM tokens, are digital and fair with the intention of protecting the right of independent artist on the network. This is an ERC20 compliant token, operating based on the blockchain network. The token will serve as a means of universal payment system with which artist get their royalties in any country.
Both tokens – the MFTU and CYFM, will be used for payment and online membership on the station. It will also be used for registration fees as well as credit for in-app purchases.
The MFTU and CYFM tokens are “broadcasting currencies” that will be used on the platform for the audience, listeners and fans. Thus, in any radio contest, listeners will be able to win MFTU contest. With the token, they can buy premium membership for tracks, pay for adverts, on demand downloads and many other stuffs.
#CyberFM #Investment #Cryptocurrency #DistributedLedger #RadioOnline #CYFM
To find out more about this project, here are some related links:
Website, Whitepaper, Telegram, Facebook, Twitter, Bitcointalk ANN thread
Writer's bitcointalk username: Anike01
Writer's bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1565368
