Moosecoin is creating a decentralised organisation for musicians to cover for every aspect of a musicians’ career; from start to finish. They would like to be the most used blockchain platform facilitating new musicians and all ecosystem partners around them.
Being A Musician
In addition being a musician is a broad definition. Musicians earn money with composing songs, live performances, teaching, merchandise, song sales, royalties, endorsement deals, licensing their song, session acts, or play in exchange for other goods. They are probably one of the most creative business people, but they lack supporting infrastructure. They believe that developers and musicians – who sometimes are one and the same – could work more closely together to create more services that can aid musicians along the way. There is a need to tackle some of the core infrastructure for the music industry to keep it fair and creative for those thousands of artists to come. Before they can build these targeted solutions and make lives of thousands of musicians easier they will have to emphasize some of the core challenges as tackling these would open up an ecosystem of solutions.
The core problems;
Currently there is no central storage of ownership rights and the insight in ownership rights is time intensive, incomplete and non-transparent. The necessary solution is live and transparent insight in ownership rights.
Distribution of revenue and incentives
Then, they also face differences in incentives; some actors within the ecosystem appropriate more value than other, especially the smaller musicians do not have the possibility to appropriate their much needed and deserved value. Therefore the incentives of all actors should be aligned. The distribution of your earned revenue also takes time. Sometimes it takes months, without any guarantee that the right amounts are transferred to your account. The distribution should be artist-centric, transparent and quick
Different business models
Then they have the fact that musicians have many different business models; every musicians creates his own way of working her or himself to the top. They think it is time to create insights into data so that it is much easier to start from scratch and understand how your fellow musicians did before you. So, there should be more open and free information for musicians to start. There is need for a better User Interface.
They envision a new music ecosystem
They envision a new music ecosystem; a blockchain-based platform that creates an artist-centric standard, where integrity, transparency, respect of rights, and fair exchange of value are key. They envision an easy registration of ownership rights for every musician. It should be easy to acquire insight into these rights. They envision ease of transactions, almost instant payment provision. Where every participant in the ecosystem gets his fair share of revenue. They would like to put the musician – the actual creators of the commodity – in the middle again
The Conceptual Model
A platform for musicians, streaming services, record labels and listeners. As a musician you can register your music, manage and pay-out royalties, and execute crowdfund actions. Create or connect a streaming service with existing contracts, including payment services. Record labels can easily move their artists on the blockchain to automate processes and agreements between them and their musicians. Listeners can listen to music legally, donate or invest in musicians and/or their songs.
MooseCoin concept; moosecoin is a way to register your music. By registering your song directly onto our blockchain you are creating a copyrighted version that is timestamped. So registering your own music has become easier than ever. With this registration it becomes easier to acquire donations, endorsement deals, licensing deals and be paid as easily too
Entities, Smart contracts & Templates
As an artist it is possible to register yourself, song, album, or brand. You can create rules for the commodities you register; per song you can define settings for royalty divisions, accessibility by third parties, you can sell certain ownership rights and more. These settings are prescribed within smart contracts, these can be seen as standard templates.
On the blockchain different entities will be established to provide different relations and
contracts. At first the entities for artists, songs and record labels will be created. Every entity has different contract possibilities. With this structure you are able to create a contract as an artist or per song. The hierarchy will automatically work through in following contracts afterwards.
Smart contracts for every instance
In the future Moosty will create smart contracts for every instance. As an artist you will be able to pick your favorite division of rights and incorporated rules of execution. You will be able to compare your contract with thousands of comparable artists who have done it before. These contracts will be co-created with the industry partners.
Example of templated contracts:
● royalty statements
● pay per play contracts
● standard collaboration with record label contract
Building an ecosystem with aligned incentives
The Moosty Blockchain Platform creates an ecosystem with participants who collaborate with the right incentives. Including most of the current music industry actors. On top of the blockchain a multitude of new services is possible. The mission is to create the most used blockchain solution.
Within the Moosty Blockchain Platform environment artists will register their songs and therefore create a commodity – a song, an album, merchandise, a brand. This will attract
investors to fund the artists in which they believe. They envision that investors, fellow musicians and consumers are also willing to donate to musicians they like to provide them with the basics to create more commodities. Artists will receive these donations with MooseCoin, some of them will be to invest in the creation of new music, some of them will be provided within smart contracts in exchange for a specific commodity. In return the artists will create more commodities that will create a higher valued MooseCoin. The marketplace is the place where a musician can receive donations, where they can sell part of their song, brand, merchandise, where they can close licensing deals, or get in contact with other musicians and possible partners.
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