Improvement and development in technology available for creating multiple copies of music copies through digital technologies. It is different to past, when each copy required physical work to manufacture another record, another tape, or another CD/DVD and provide it as music source for users. Presently, two clicks are enough to create unlimited number of copies, that are instantly available for users. On the other hand, distribution of copies is extremely easy through internet channel, where these copies can be sent to users in real time. Nevertheless, all these improvements are great for the industry, manufacturers and distributors, but performers are not fairly reimbursement for their effort. With instant copying and distribution, users are able to get content through piracy, and to avoid payment for content authors, that are not reimbursed for creative work.
Imusify is proposing a solution, which integrates the best practices of streaming, media sharing, crowdfunding, and social networks to create an ecosystem in which the artists, fans, and music professionals can interact with one another on a decentralized marketplace. The technology that supports ecosystem functionality allows tracking of the flow of content, and smart contracts which are below ensure a fair and immediate distribution of pay-outs to content authors. Content is reviewed automatically to determine copyright ownership, and digital identity tracking is used to prevent fraud. This will fairly reward content creators, and provide them with reward automatically.
Within the music industry there is a strange thing that despite the record sale is in constant decrease, music market is in growth, and the rate of growth is above 5%. Primary market focus is changed from record sales to streaming, and number of subscribers to music worldwide reached 100 million long time ago. It is clear that streaming is the winner of the battle with record sales, and now it is a preferred way of interaction between distributors and users.
There is always a catch, and catch is streaming is already described, it is a gap in value that is generated by streaming platforms and value that is distributed to content creators. This gap could be translated to all business niches that have providers, since content creators are poorly rewarded within social networks as well, but also provisions are high within hospitality, renting and similar. Centralization is supporting the gap, and only solution that could be viable to decrease the gap shall be through decentralization, as proposed by Imusify.
Decentralized solution foreseen blockchain as a standard today, with implication to digital rights management that offers universal transparency to artists, distributors and consumers, payment transparency through automatic and transparent royalty payments. Decentralized database shall enable for every author to have a wide marketplace to offer their songs, and wide population shall decide regarding quality of offered material, which is currently not the case with large studios, and small number of people making decisions regarding album publication.
Imusify has a large community with over 300 contributors and advisors to the project included.
Private sale aiming to collect 5 million USD, and partnered with 03 wallet, 650 million IMU tokens are foreseen for sale, price is 5 cent per token.