Musicians and producers are finding it difficult to get the ROI from their creations, and music stores across the world are closing down at an alarming rate. More than 90% of music consumers prefer to download music to their devices while some prefer to stream since the internet connectivity costs have become cheaper.
Maestro has come up with a blockchain-based music-streaming platform catering to both artists and listeners, and the company goal is to revolutionize the digital music world. To ensure the platform sees the light of day, they are issuing a token sale.
Benefits of MAESTRO Blockchain Ecosystem
- Provision of a decentralized streaming service that has a fair payment structure
- Lower costs compared to existing music streaming platforms
- Crowdfunding system that will provide more investment opportunities for regular music consumers who want to support investors in the industry as well as artists
- Customers only pay for the songs that they want and listen to
- Artists do not have to worry about increasing and volatile production costs as the ecosystem guarantees fair profit for them
- Platform has a funding measure that artists can use to raise funds for producing music
- All creative works rights are secured
- Artists are given an opportunity to set the allocation ratio
- Profit structure is transparent
The Maestro System is made up of two platforms, Ensemble and Symphony. These two platforms are connected to Maestro’s blockchain through smart contracts, with all music files encrypted and stored in distributed storage. We are currently focusing on developing service operations, and aim to eventually establish a decentralized platform through distributed storage powered by EOS.IO.
Maestro Smart Contracts
Maestro’s set of smart contracts, along with the contracts for listening and payment for usage of the streaming service, include rights distribution and profit allocation of songs through the funding system. It also holds the decryption key for the music stored in Maestro’s encrypted distributed storage. While using the service, consumers will use the Maestro token to receive a decryption key to stream their music.
- Customers “Only pay for the amount listened to”
Payment based on actual consumption
Lower fee compared to other services
- Artists “No worries regarding raising production costs”
Fair profits for artists
Music production costs raised through funding
Rights secured for creative works
Symphony: Music Streaming DApp
Symphony is the streaming client of Maestro. We at Maestro plan to develop the mobile version of the application after fully developing the web platform. Symphony transparently records streaming service usage as well as other relevant activities, such as user votes and public inquiries of Maestro’s blockchain.
Ensemble: Crowdfunding Center
Ensemble is a crowdfunding decentralized application (DApp) that allows the artist to create projects and raise funds. Artists can personally distribute the rights to their work and designate the amount of funds they wish to receive. Ensemble actively aids artists in obtaining funding for their projects as well as securing their rights. The system also manages the balancing of accounts and allocation of revenue.
In the early stages of service, Maestro will store music through a centralized server for maximum efficiency and fast service performance. In the mature system, all music uploaded to Maestro will be encrypted and stored in distributed storage. When uploading the files, music will be encoded and stored according to their sound quality and file format, such as Hz and Kbps.
Maestro Token (MAE)
The Maestro Token (MAE) is the base currency of Maestro. This token is the payment method for the streaming service and will be listed on the exchange. All payment methods within the service will use Maestro Tokens. Investment profit will also be distributed in Maestro Tokens.
Stake of Music (SOM)
Stake of Music (SOM) is the proof of rights to creative content given to investors in projects. SOM is initially held by the artist, who can choose to allocate it among investors at the crowdfunding stage. SOM holds the rights to profits generated by the creative work; all profits from the platform are equitably allocated based on the SOM ratios. SOM transactions are all recorded on the blockchain.
Maestro Point (MSP)
Maestro Points (MSPs) are the influence used for upvotes and downvotes in the Symphony streaming service. MSPs are granted based on the number of Maestro Tokens (MAEs) held, streaming service usage, and SOMs obtained by participating in Ensemble funding.
Maestro Token Sale
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