Soundeon – Revolutionizing the Music Industry with Blockchain
Overview:
Music industry has experienced increase in its revenue since the year 2016. However, many problems persist in this industry. The presence of intermediaries between artists and fans causes problems to the artists and has even made the ticketing process even more complex. Soundeon aims to solve these existing problems by integrating blockchain thus making the music industry a fair and transparent place for the artists and the fans. The platform will allow the artists to have control over their work and will connect the artists and the fans directly.
Challenges faced in the Music Industry:
The songwriters today often do no get their deserved profits as they have to acquire licences based on the rules of the jurisdiction and also high fees are need to be paid to the publishers. From acquiring licences to the publication fees, the songwriters are left with very minimum profits. Interactive streaming platforms such as radio plays songs on demand and the cost per stream is $ 0.0008. But the artists need to register himself on such platform to get the additional income. The intermediaries present in the recorded music industry has created a barrier for the artists to reach out to the fans globally.
The live event ticketing process is also been interrupted by secondary market where few players increase the ticket prices by observing the ability of the fans who are willing to pay for a ticket.
The Soundeon Solution:
Soundeon is providing solution to the above problems by providing transparency, equitable ownership rights management, enhanced artists funding mechanisms and fair event ticketing.
The Soundeon Protocol consists of the following initial application layers:
• Music Token Sale: Artists can launch their token sale for new project in order to receive funding from the community.
• Soundeon Monitor: Artists can register copyright for their work and can get all the royalties from the platform. The platform also carries out data analytics which will help music fans to get accurate data about artists so that they can take their decisions on buying music assets.
• Soundeon Exchange: It enables the users of the platform to buy or sell their royalty income which help them to create a diversified personal music royalty portfolio.
• Soundeon Tix: Soundeon Tix will eliminate the frauds which occur in live event ticketing process with the help of blockchain and smart contracts. The concert organizer can control both the primary and the secondary market.
• Soundeon Player: This will distribute the artist’s work to the fans. This player records the data of number of plays a track has and this data is then stored in a decentralized registry. The Soundeon player ensure the fair royalty distribution among the members.
Team:
Vadim Kurochkin - CEO
Serial entrepreneur. Co-founder and Managing Partner of Hedge Fund Zilliard Capital. Successfully launched multiple projects across a wide spectrum of industries, including technology and financial space. Has experience in both private equity investments in early stage startups and portfolio management for institutional and bank clients.
Vladimir Avdeev - CVO
Co-founder and Managing Partner, Zilliard Capital. Responsible for the strategic development of the company and for the development of the hedge fund and financial engineering strategy. Previously Vladimir worked with the legendary Bolshoi Theatre, dedicating a major part of his life to the worldwide promotion and popularization of Russian art.
Egor Bushlyakov - CTO
Egor has 10+ years of experience in programming applications for high frequency trading. He also specializes in mobile applications for financial institutions, as well as for other markets. Has experience in the development of high-load projects.
Token Matrix:
Token – SOUNDEON
Total Supply – 1 Billion
Price – $0.056923 USD
Soft Cap – $2.9M USD
Hard Cap – $36.9M USD
Pre-Sale – 27th June to 29th September 2018
Crowd Sale – 30th September to 30th October 2018
Verdict:
Pros:
• The social media hype of this project is good as it has around 13000+ followers on Twitter and around 24000+ members on Telegram.
• The team behind the project has experience in finance, business development, art industry, mobile application development etc.
• There are 8 advisors for this project who have experience in fields like music industry, economics, finance, IT etc.
• The alpha version of the Soundeon platform is available on the website.
• The project has partnered with Bancor, LDJ Capital, Open Music, SmartDec, Sum & Substance etc.
Cons:
• The core team and advisors behind this project do not have experience in blockchain technology.
Website: https://soundeon.com/en/
Whitepaper: https://soundeon.com/Soundeon_WP.pdf
Telegram: https://t.me/soundeon
Twitter: https://twitter.com/soundeoncom
ANN Thread link: https://bitcointalk.org/index.php?topic=3377820.new;topicseen#new
Bitcointalk Username: rshetty3344
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1907004
ETH address: 0x137F3CC2750C9b9bF639Cd4Bf8CB63c56823aC3c