Musiconomi Crowdsale Details
The Musiconomi crowdsale has been carefully planned and designed to meet the long term goals of the project while being responsible to all participants and rewarding early supporters i.e. members of the Musiconomi and Cofound.it communities.
Pre-Sale
The crowdsale will begin with a two day pre-sale open to Musiconomi and Cofound.it Priority Pass members only.
Day 1 will begin at 17:00 CEST August 29th and run for twenty-four hours as follows:
- 75% of total contribution amount is available
- Maximum 13.5 ETH contribution per ETH address (Musiconomi Community)
- Variable maximum amount for Cofound.it Priority Pass members. See Cofound.it’s recent post for details.
Day 2 will begin at 17:00 CEST August 30th and run for twenty-four hours as follows:
- Remaining contribution amount available to Musiconomi and Cofound.it Priority Pass members
- Unlimited contribution amount per ETH address
Public Crowdsale
If the hard cap is not reached during the pre-sale, a 4-week Public Crowdsale will begin at 17:00 CEST August 31 and will continue until September 28th or the hard cap is reached (whichever comes first).
Crowdsale Targets and Use of Proceeds
$3mil USD Threshold
Scope of Work:
- Open Musiconomi office in a strategic market centre
- Launch Advanced Blockchain-Based Music Streaming Application 2.0 Build and Support Basic Sharing Features
- 10 Artist Ambassadors
- 20 Strategic Partners
Time to implement
8–12 months
Target number of users
50k
$6mil Hard Cap
Scope of Work:
- Develop Playlist Feature
- Develop Playlist Sharing Features
- Develop Mobile App
- 20 Artist Ambassadors
- 50 Strategic Partners
Time to implement
18–24 months
Target number of users
150k
Crowdsale lasts for 4 weeks and will run until 28th of September 2017
Projected Use Of Proceeds
Development Expenses 70%
Marketing and PR 21%
Administrative/Legal/Overhead 9%
Token Allocation
The team has had the benefit of studying numerous other crowdsales and draws on the expertise of crowdsale pioneers Cofound.it to ensure an appropriate and sustainable allocation of crowdsale proceeds and tokens.
To be Issued: 100 million MCI tokens
You will receive your tokens immediately upon sending your ETH to the crowdsale contract, but they will not be immediately tradable. Tokens will be issued to the sender’s address, so please ensure you only send from an address for which you have the private keys. Do not send from an exchange.
The price of each MCI token will be $0.24, which works out to a $6M USD hard cap if all 25 million tokens are claimed. The actual cost in ETH will be determined by converting $0.24 USD to ETH shortly before the crowdsale begins.
Breakdown
25% Release to public for Crowdsale
22% Team
28% Strategic Partnership Reserve
25% Future Release (2018/2019)
Team tokens will vest for 24 months.
Strategic Partnership Reserve: This allocation will be for music professionals such as independent/artist labels, musicians, DJs, producers, promoters, distributors, and other third party integrators to incentivize them to connect their fans/network to the Musiconomi platform. It will also be used to compensate strategic advisors and ambassadors who are willing and able to support/promote the growth and development of the Musiconomi platform.
