Potentiam: Revamping the Music Industry Using Blockchain Technology
Blockchain Technology Can Give Artists and Music Lovers Financial Freedom they Have Never Had Before by Breaking The Chains That Have Bound Us All to Record Labels
Potentiam started with the idea in mind to give rising musicians, and content creators more access to the music industry and the tools they need to be heard by the masses. The Potentiam platform wants to use the blockchain to encourage artists to connect directly with their fans in an effort to cut out the monumental cost of middlemen such as managers, booking agents, digital service providers, and many more entities that take up to 80% of the revenue generated from the music industry. The current state of the music world is very outdated and has been kept this way to inhibit the growth of musicians and keep money in the pockets of very rich records labels that control the industry. Potentiam plans to change this with the utilization of the blockchain, by making a decentralized and boosted environment for performers, bloggers and music supporters fueled via auto enforceable Smart Contracts inside the network.
The Potentiam Platform has the following features and tools:
- A private music social network
- Promotion and advertising of music.
- The ability to collaborate with other artists on the network, or create a band.
- Connects artists to owners of venues
- Music and mood curator that will be used for sync licensing and other means to distribute music.
- Clients will have the ability to bid on and purchase content created on the platform with the PTM token.
- Crowdfunding Platform.
- “Steemit for music culture”, using the CLOUT token.
- Super Sleek Interface
- Rewards for contributors.
- Digital production studio.
- Catalog management suite for artists to manage the content and copy writes created with the Potentiam Core.
- Uses cryptographic algorithms to protect the privacy of it’s clients
- Instant messaging
Potentiam Core and Potentiam Classic, the two main modules on the network will use the tools above to completely redefine the music industry as we know it today. Artists will be able to create and upload music to the platform that can be quickly available for their fans, digital and physical distribution, and be promoted to everyone on the network! The Potentiam platform will only take 15% of the revenue generated on the platform, this is about ¼ the amount that is currently being eaten up by the third parties in the music culture. Using the Potentiam Network artists will get to keep 80% of the revenue generated by the content they create. This system will put control directly into the hands of the artists.
Record labels and managers even get to decide what music we, the consumers get to listen to. No matter how talented a musician or band may be, without the right promotion and distribution, no one will hear them and they will never reach the levels of fame they truly deserve. Record Labels scout hundreds of acts, and then spend billions of dollars on marketing to make those acts famous. Do you ever wonder why you may hear someone on the radio who sounds pretty horrible but is still wildly famous? (No shade) This is because their managers spent billions of dollars to market them. Imagine a world where anyone can upload their music onto the blockchain and it is heard by billions of people all over the world, and it does not cost billions of dollars? Now all the that money can go into the artists pocket, and the listeners as well with the new intensives available through the Potentiam network! Users of the platform will also have the opportunity to earn while they listen to and discover their favorite artists.
Potentiam is the creation of Britznbeatz, a group of business visionaries who in 2016, imagined to make a ‘decentralized and incentivized’ music platform that has a good membership base, and additionally gives its clients persistent collaboration with music creatives. Attributable to the way that the platform is based a ‘decentralized public record’, the Potentiam team saw that the blockchain has the ability to store information, as well as stay free without having to depend on third party get-together sources.
The PTM token will be the currency that circulates around the Platform. All payments for services will be carried out in PTM tokens. A total of 100,000,000 PTM tokens will be created. 60,000,000 PTM tokens will be available during the crowdsale. Potentiam tokens are available at a cost of 4000 PTM for 1 Ethereum. It is very important to note that Potentiam has not pegged their token to any specific USD value of the cryptocurrency Ethereum. Instead, the token is pegged directly to Ethereum. This is a great indication as to how much the Potentiam team believes in the power that cryptocurrencies and the blockchain can bring to our society and businesses all over the world. The team does allow payments with other cryptocurrencies and Fiat. You can get in contact with them in their telegram group anytime! There is always someone available to answer questions.
Potentiam Twitter: www.twitter.com/potentiam_io
Potentiam Telegram: https://t.me/PotentiamGroup
Potentiam Website: www.potentiam.io