Muzika Ecosystem and Vision
Korean blockchain startup Muzika is closing the gap between artists and listeners. By incorporating smart contracts powered by blockchain technology, Muzika aims to minimize the role of intermediaries like music distributors and streaming platforms that do not directly contribute to the creative ecosystem. Instead, artists can upload their creative content and listeners can support through community engagement that can be converted to Muzika coin (MZK).
Founded by three teammates featured on 2018 Asia Forbes 30 under 30 list, Muzika’s vision for the future of the digital music industry has captured the attention of the public, investors, and industry leaders alike. To date, Muzika has:
- Accumulated over 17,000 artists and 2 million active users in over 150 countries
- Partnered with industry leader Ontology
- Secured investments from prominent firms like NEO Global Capital, Everest Ventures Group, T3 Ventures (8 Decimal), 256 Ventures, DDC and Ontology.
- Received advisory support from former and current C-suite executives of top Korean companies like Samsung, Kakao, and Naver
The Muzika platform is built entirely upon a self-sustaining, online token economy where the fundamental transaction unit is the Muzika coin (MZK). First, listeners will engage with the online community through various activities like voting or watching content. Fans will be rewarded for their community engagement with loyalty points that can be converted to MZK coin. Fans will use MZK coin to compensate creators for their creative content directly by buying music or sponsoring the creative process of their favorite artists on the platform.
The traditional digital music industry is riddled by systematic problems like music piracy and middlemen profiting from a byzantine distribution process. Muzika challenges the status quo of the traditional music industry by relying upon the natural synergy between artists and listeners. Using smart contract technology, the Muzika platform allows the direct transfer of digital music from the artist to the fan, ensuring a fairer and more transparent music distribution process, and also rewarding fans’contribution in a more effective and transparent way through smart contract.
Imagine a world where musicians are paid fully for their work while fans are rewarded for their contributions to a creative ecosystem. Envision an online community where the rewards for creative contributions are returned from the hands of music distributors and labels to the hands of the music community. This is the vision for the next-generation of digital music that the Muzika platform will make a reality.
Muzika is a blockchain-based self-sustaining ecosystem that will revolutionize the digital music industry.www.muzika.network
The latest Tweets from muzika (@muzika_official): "#muzika #blockchain #Ontology TRY to envision a world where you and…twitter.com
Muzika is a music blockchain project, built on an existing business and global music platforms with millions of users…t.me