Blockchain technology is undeniably changing the face of the digital music industry. However,
existing blockchain music services focus solely on improving established streaming and distribution
structures, and fail to address fundamental problems of the current industry. Future music products
developed with blockchain, unlike their predecessors, must utilize the technology to provide
innovative functions that revolutionize the music industry at its core.
Maestro (link to white paper) is building the new decentralized ecosystem for creators and audiences of the music industry. By eliminating the unnecessary third parties who are currently taking up to 40% of the generated revenue, the artists will earn the profit they rightfully deserve; the listeners will enjoy the music at lower cost.
The platform provides two Dapps: Ensemble and Symphony.
Ensemble: the Crowdfunding Center for Artists and Fans
Ensemble will provide the artists a secure, transparent, and direct method of collecting funds for their new or existing projects. The fans who contribute to the project, on the other hand, will be able to directly engage with their favorite artist’s creative process. Maestro believes that such an ecosystem will benefit both sides and open new frontiers for artist-audience relationships.
Symphony: the Streaming Service for Creators and Consumers
Symphony will serve the world’s music industry with a fair and efficient distribution system. The creators, on one hand, will be able to take away the rightful share of profit they deserve. The consumers, on the other hand, will enjoy the same, seamless music streaming service with less cost. Empowered by Interplanetary File System(IPFS) that will function on the EOS network, Symphony will deliver high-quality music at the simple touch of a finger.
The Emergence of Blockchain and Its Issues
With the birth of Ethereum and its revolutionary smart contract, numerous attempts are being made
to apply this technology in the music industry as well. We are seeing more and more instances of
blockchain being used, such as "Opus," an Ethereum-based music service; "Resonate," a service
that offers a unique profit allocation structure, and “Choon,” a platform that focuses on profit
distribution.
Most blockchain-based music platforms focus on obtaining copyrights, music profit allocation
issues, and improving the transparency of the structure. The Maestro team also agrees on these
three areas of improvement. However, we have doubts on whether the copyright or profit
distribution-focused approach can indeed revolutionize the music industry and establish an
environment which artists can boldly move to from existing labels.
Solution 1: Crowdfunding for Music Production
In order to create a music ecosystem that encompasses all parties, Maestro focuses on resolving the
issues of capital and of providing a fair blockchain-based streaming service. Maestro will solve these
issues through crowdfunding.
Crowdfunding is an alternative financial service that enables a project or venture by raising
money from numerous people. Already well known as the business method used by Kickstarter
and Indiegogo, $16.2 billion in funding has been invested around the world through this method.
Crowdfunding has solved the issue of funding for promising ventures and projects while creating
a new process that allows early-adopting customers to choose the products to be produced. Many
projects, especially in the arts, have successfully started through this process.
Solution 2: Reasonable and Groundbreaking Model for Consumers
Maestro's method will bring more benefits to consumers as well. Maestro's services have reasonable
pricing policies in which the consumer pays according to the number of songs they have actually
streamed. If the consumer does not use any of the services provided, they are not charged. Maestro
provides incentives to consumers by allowing reasonable subscription plans based purely on usage.
This funding structure provides new investment and communication opportunities for consumers.
The consumer can choose to communicate directly with an artist and become an active participant
in their project. If the project they have funded is successful, they can expect a share of the profits
based on the amount of their investment. Maestro is the first blockchain platform through which
consumers and artists can help each other for mutual benefit.
Fair Music Streaming Service for Consumers
- Decentralized streaming service with no middlemen
- A fair payment structure based on actual consumption
- Lower costs compared to other streaming services
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.
Tokens
Token Name Maestro Token
Token Symbol MAE
Price 1 ETH = 10,000 MAE
Tokens for sale 620,000,000 MAE
*Unsold tokens will be burned.
Progress
Goals to Attain
Soft cap for ICO: None
Hard cap for ICO: 62,000 ETH
The Maestro team is under way with the project already, with KRW 500 million funding.
Consequently, there is no set soft cap, and the project will proceed regardless of whether we
achieve the target amount or not. After the 2nd ICO, there will be no additional token sales.
Roadmap
May, 2018
Proceed with advanced marketing for artists
June, 2018
Private sale for investment companies and early adopters
1st, 2nd ICO
July, 2018
Sign MOUs with major collaborating companies
November, 2018
Listed on the exchange
Release demo version v1.0
Complete 100 artist funding companies led by Maestro
May, 2019
Official launch of Mainnet Platform
Team
Advisors
For more information, please visit any of the links below:
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