[Coin Review] Muzika (MZK)

Disclaimer: This is not in any way professional advice, and is solely based on the author’s own opinion. This is not in any way an advice to invest, or not invest in the network.

Muzika is a revolutionary coin economy that will reshape the global digital music industry. Muzika’s digital music ecosystem will function as a channel for distributing and publishing music content while providing fair compensation to artists. Fans will also get to partake in all stages of a song’s lifecycle, ranging from sponsorship and production to consumption. Within this self-sustaining ecosystem, community members are rewarded with loyalty points for a variety of community activities, including voting, commenting, posting, and sharing songs. These loyalty points are then converted into Muzika’s utility token, MZK.

The ecosystem also provides a direct link between sponsors and artists, enabling sponsors to pay artists directly for their music. All transactions between sponsors, fans, and artists are recorded on the blockchain, which is a decentralized, secure, and immutable ledger. Outside streaming services are also able to participate in the ecosystem using the same shared blockchain ledger, which ensures ultimate transparency when accounting for the number of streams and subsequent royalty payouts.

Background

Mapiacompany was co-founded by three young entrepreneurs(Inseo Chung/CEO, Sangmin Heo/CTO, Jangwon Lee/COO) 3 years ago in South Korea. It is an online global community-based music platform with over 30 piano-related social media channels and 2 million users across the globe. The company has been working on implementing block-chain techs into the existing businesses.

MUZIKA block-chain project, conceptualized in Feb. 2017 at Mapiacompany, has been led by these three co-founders of the company, who are among the youngest and most successful entrepreneurs in South Korean startup history with an average of 22 as of 2018, who has been awarded the title “Forbes 30 under 30 Asia 2018”.

Muzika Coin

The Muzika coin (“MZK”) was deliberately designed to help in the achievement of our mission to create a new, sustainable ecosystem in a multitude of ways. The team drew inspiration from the Steemit community, which has been able to successfully substantialize the mission outlined in their whitepaper. Steemit’s community building model, along with their own proven model of building a vibrant music community of 2 million users, are some of the foundations of Muzika’s ecosystem.

4 major functions of MZK
MZK will be the sole medium of exchange for all economic activity within the Muzika ecosystem, acting as the medium for community building, sponsorship, purchasing commercial items, and community programs aside from a few free services targeted at community novices.

Community building: In order to be truly self-sustaining, the Muzika ecosystem will contain all of the necessary functions and activities. These range from creative brainstorming, exchange of feedback, and more.

Means of transaction for commercial items and services: Streaming services, a sheet music marketplace, musical instruments, recording services and much more will all be available through Muzika.

Sponsorship opportunities: Users may sponsor artists and become their patrons in various ways including regular subscriptions. As patrons, users can enjoy exclusive & sponsor-only products, services, and opportunities to be involved in the creative process of a musical product.

Community programs: Community programs and events such as auditions, contests, live-streaming events, and other such activities driven by member involvement will be a focal point of Muzika.

Reverse ICO

Muzika is a reverse ICO project, which means there is already pre-existing business with recurring revenues for sufficient funds for the project.

However, there was a private sale that occured around Q2/Q3 of 2018.

Total number of tokens: 1,000,000,000
% for sale: 20.5 %
Total number of tokens for sale: 205,000,000
Hard-cap: 20,000 ETH

Muzika also had a bounty program that ended in 2018 where 425,000 MZK was divided according to the stakes accumulated among selected participants.

Bounty campaign includes these categories:
Facebook: 15%
Twitter: 15%
Telegram: 1%
Content: 35%
Video: 20%
Translation: 14%

Roadmap

Featured

Muzika has been gaining a lot of attention from several notable press all around the world, such as Forbes China, Business Insider, as well as Yahoo Finance.

And on October 2018, Muzika held a meet up in Gangnam, S.Korea to network with professional in the blockchain industry as well as to promote Muzika and it’s unique qualities.

With the amount of attention this project is gaining, we can certainly see that this project definitely has a lot of potential and 2019 will definitely be an exciting year for this project.

Listing

Muzika was first listed on Huobi Korea; and according to various source, it will be listed on Dcoin on 9th January 2019.

For more information on this project, check out their official website.

J.D.