Tune is solve digital songwriter rights and royalty transparency issues for the music industry.
TUNE is an ERC20 token build on the Ethereum blockchain. Once the Tune app is available, users will be able to convert their TUNE Tokens into Recordgram Credits, in order to unlock beats, tip artists, etc. The RecordGram app, which is already available for IOS and Android, will be upgraded to blockchain and become “TUNE”
Features:
The Tokens will be used as a method of exchange to stakeholders across the Tune Platform, initially within RecordGram, and in the future possibly with other integrated DApps to further add growth to the community.
Contributors to the TUNE Platform will be rewarded with Tokens that unlock functionality, value and status within the Tune Platform
Featues of the platform
Content Storage: Tune is using Filecoin for their decentralized content storage which will be stored centrally until Tune can find a preferred content storage. Tune feel they are confident using an integration method with IPFS (Interplanetary File System) as the platform works with a P2P (Peer to Peer) distributed file system. However, Tune has stated they are working with their R+D department to a create or find a more prosperous alternative in the near future.
Transaction Scalability: Tune believes the ERC-20 token is a robust enough means to provide a ‘custom digital token with asset creation and smart contract integration’ for the ‘deployment of Dapps.’ Tune admit to its hindrance of transaction speed and cost but are looking into other ‘off-chain solutions’ such as Raiden. Raiden seems to be viable in that its attributes are ‘scaleable with low fees and near instant transact ability and privacy protection.’
Economic Incentives: Tune are developing a wallet set-up to produce a frictionless transaction when signing up with RecordGram. Tune are also in the process of creating the wallet set-ups currency called TUNE Credits (TUNC) which will work as the fiat currency on the tune platform for all users to use when ‘tipping’ or for ‘incentive rewards.’
Impact
The platform aims to encourage transparency throughout the music industry. Any young talent can upload their creation on to the ecosystem with the hope that they can be recognized, sharing music and monetizing on their activity on Tune. Any party is legible to be part of Tune and can view contractual relationships within the music industry. Transparency is emphasized as ‘payments to rights holders’ can also be viewed as ‘each party is now bound to Tune smart contract that automates the payment process based on certain sets of pre-agreed upon conditional smart contract logic and compensation algorithms