【IMEOS Interview】Emanate: Bring the Music Industry
into the Era of Decentralization
Chinese Version(中文版): https://mp.weixin.qq.com/s/JJ3ycCcUst_2BlQo2AsR8Q
Background
Emanate drive a revolution in musical collaboration, monetization and connection. It is building an Audio Exchange Protocol designed to evolve the music industry into the blockchain era, allowing artists to be paid in real-time, to collaborate globally without the need of trust. This could bring much needed efficiency and transparency to the music industry.
IMEOS as an independent media focusing on EOS ecosystem development, we made an exclusive interview with Sean Gardner, Founder & CEO of Emanate, bringing the details of project and goal to the community.
Interview
IMEOS: Can you please introduce Emanate? Where do the initial idea come from to develop this DAPP?
Sean: Emanate is basically EOS for the music industry. We are calling the Audio Exchange Protocol and we are building a set of DApps, APIs and a governance framework to help the music industry evolve into the era of decentralization. The ideas have evolved over the last decade but there was a light-bulb moment when we started looking into smart contracts last year.
IMEOS: Why do you want to develop Emanate on blockchain? And why choose EOSIO, what special advantages compared to others?
Sean: You know why we chose EOS :-) Fast, fee-less and with plans for storage! that’s exactly what we needed. Yeah, Emanate needs blockchain for immutable contracts, micro-transactions across geographies and for decentralized governance.
IMEOS: What stage is Emanate at? Is there any update recently and when we can expect to its official launch?
Sean: We are deploying a demo next month, it’s only the first stop on our technical roadmap but it does break new ground in terms of blockchain based music collaboration and real-time micro-payments to artists. Our first software release is in 2020 which is actually only 18 months away now! That release will be designed to work without any crypto or blockchain knowledge. Between now and then we will push an Alpha and Beta release which both will demonstrate the power of our token economy.
IMEOS: How many artists / labels are participating in the project already? How they comment about Emanate?
Sean: We are working with the owners of some super-dope dance labels. Our artist ambassador Tom Honeywill (LO’99) runs a few labels including Medium Rare Records. We just launched a remix competition with Yunizon Records (France) and 604 (Canada). It’s a steep learning curve for artists and labels but once they get it, they love it!
IMEOS: For artists/labels, are they able to set the price for their music/tracks? Is there a verification process for music they uploaded?
Sean: No, that would be a terrible experience for listeners. The platform will have standard price for plays on a per-second basis. It will algorithmically respond to how much is in the community pool and pay a fair share to those who are getting the plays.
IMEOS: As listeners, are they able to have trial listening to music, and is there built-in player for them to enjoy the music instantly after bought? Can they download and share?
Sean: It will be free at first, in time we will have a subscription model but probably smaller than usual, like $5 a month. Users won’t ‘buy’ music, that’s too old school. It’s a streaming model and yes the demo streaming player will deploy next month.
Besides detailed answers of questions above, Sean also introduce Emanate’s token model and Emanate token:
We’ve put a lot of time into developing a token model that solve s the major issues in crypto. We don’t want a 10,000 BTC pizza problem!
The initial MN8 token is the fixed supply token that is distributed in crowdsale, airdrops and to artists during the distribution phase. The token must be staked if you wish to earn income on the platform as an artist, label, playlist maker or network supporter.
A secondary stable coin will be minted when users pay their subscription fee. The subscription fee is sold into the stable coin, and value moves around the ecosystem with small clips taken on each transaction. Stable tokens are sold at .011c USD to users paying subscriptions and bought off users cashing out at .0095c USD.
The clip in the transactions feeds to the community pool which pays rewards to active stakers. This allows for ecosystem growth stability, liquidity and volatility and is not a security token because rewards are paid for services, not passive dividends.
IMEOS: So how do people get involved in Emanate?
Sean: On our site www.emanate.live, you can register as an artist or sign up to keep in the loop. You can also chat with us on any of the channels below:
- Twitter: http://twitter.com/emanateofficial
- Facebook: http://facebook.com/emanateofficial
- Telegram: https://t.me/emanateofficial
- Discord: https://discordapp.com/invite/ACDrukF
IMEOS: We are honor to invite Sean to make this interview with us, and we wish the success of Emanate to become a super DApp on EOSIO! IMEOS will keep bringing the community more constructive and interesting DApps latest information.
