MAESTRO
Revolutionizing the Digital Music World
About MAESTRO
Blockchain technology is undeniably changing the face of the digital music industry. However, existing blockchain music services focus solely on improving established streaming and distribution structures, and fail to address fundamental problems of the current industry. Future music products developed with blockchain, unlike their predecessors, must utilize the technology to provide innovative functions that revolutionize the music industry at its core.
Maestro started with such a need, to solve a problem that plagues the music industry today: namely, the unfair structure of the industry itself. Third parties, such as labels and agencies, currently reap in over 80% of generated profits, leaving artists with barely any support and struggling with financial burdens. Music player companies only exacerbate this inequality through inefficient bureaucracy. We at Team Maestro believe that for both music and its industry to thrive, we must provide an environment focused foremost on promoting the creative efforts of artists and guaranteeing their fair compensation. Therefore, we propose a blockchain-based music platform that acts as a creative ecosystem established on virtuous cycles of mutual cooperation between creators and consumers. Music distribution rights are currently monopolized by third parties such as labels and production companies, who have used their influence to control the resulting profits. The inequality inherent in such a distribution structure affects not only artists, but also consumers, who become burdened with unreasonable prices they must pay to enjoy music. Maestro aims to create a transparent industry through decentralization with blockchain technology. By leaving out the "middlemen" from the process, consumers will be able to use streaming services at considerably more reasonable prices.
Maestro is primarily composed of two parts: "Symphony," the streaming service, and "Ensemble," the crowdfunding center. Artists can raise funds for their project prior to production through Ensemble. After completing the project, they can then distribute their creations and generate revenue through Symphony. The distribution and handling of rights, copyright, and transactions are all transparently executed through Symphony in accordance with data recorded on Maestro's blockchain.
Maestro will become the new paradigm for the music industry. We at Maestro will provide an environment that allows for unhampered creation as well as an ecosystem that fairly divides rights of songs between artists and investors, and profits among all token holders. Maestro aims to revolutionize the bureaucratic media industry and to cooperate with existing parties to ultimately aid and nurture a greater diversity of artists.
Roadmap
- May, 2018
- Proceed with advanced marketing for artists.
- June, 2018
- Private sale for investment companies and early adopters. 1st, 2nd ICO.
- July, 2018
- Sign MOUs with major collaborating companies.
- November, 2018
- Listed on the exchange. Release demo version v1.0. Complete 100 artist funding companies led by Maestro.
Overall structure diagram of Maestro
Funding and Token Distribution
MAE's are provide through snapshot of the wallets in Ensemble. Platform profits are allocated once per week. The Maestro team's goal is to decentralize the profit structure through blockchain technology. All platform profits are affected by the number of MAE's held. Unsold tokens will be destroyed. Due to inflation, issuence of additional tokens to take place once per year, and further issuance is prohibited as a rule.
- Soft cap for ICO: None
- Hard cap for ICo: 62, 000 ETH
The Maestro is under way with the project already, with KRW 500 million funding. Consequently, there is no set soft cap, and the project will proceed regardless of whether we achieve the target amount or not. After the 2nd ICO, there will be no additional token sales.
Token Allocation
Token Usage after ICO
Total usage of tokens can be divided into five components: 40% on engineering and software development; 25% on marketing and business development; 15% on operational expenses; and 10% each for license fees and legal expenses.
MY ETH WALLET: 0x6FEB883Ad01df9008E3500797383168248d9fA7D
MY BITCOINTALK ACC: HERE
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