The correlation between cryptocurrency and the music industry becomes more clear every week. VOISE, a new Ethereum-based project aiming to help indie artists earn revenue from their work, is generating quite some buzz in the cryptocurrency world. VOISE will serve as a decentralized music streaming and downloading platform that passes on 100% of the revenue to the artists.
Under the current music industry guidelines, it has become increasingly difficult for indie artists to get noticed and make money from their creations. It is evident something needs to change, and the VOISE team is driving that change. The goal is to create a decentralized and anonymous platform by making use of the Ethereum blockchain. Moreover, there will be a personalized token that fit the platform needs.
One challenge the VOISE team will need to overcome is how they raise awareness for this new platform. Mainstream consumers have little to no knowledge about cryptocurrency whatsoever. To solve this problem, the VOISE platform will accept some fiat currencies to attract regular consumers. In doing so, the team aims to ease users into getting acquainted with cryptocurrency, and eventually make them turn to a cryptocurrency-based token for their music needs. The team issued a whitepaper which contains more technical information about how the developers want to achieve their goals.
An alpha release of the VOISE platform is scheduled to be released later in 2017, with the project entering the beta stage in the first half of 2018. After thorough testing has been conducted, the platform will be opened to the public in the second half of 2018. From that moment onward, the indie music industry will never be the same again, as artists will finally be able to receive 100% of the revenue generated by their creations in a fair and transparent manner.
Artists will be able to determine their own price for their creations, denominated in VSM. During the first few weeks of the platform launching, an average price of 1 VSM per song seems to be the best option. A lower price is also a great way to reach out to new potential fans and create a bond between artist and consumer. Once the project’s economy has stabilized, indie artists can start to charge a higher price for their creations. It is also possible for artists to offer a free sample as their song.
To make the VOISE platform a reality, an ICO will be conducted. The Ethereum-based platform tokens will be distributed to investors during this period. There is a total of 100 million Vosiums, of which 92 million will be sold to investors during the ICO. Everyone investor will receive 160 VSM tokens per Ether invested. The remaining 8 million tokens will be used for advertising and the VOISE team.
It is also worth mentioning all of the money raised during the VOISE ICO will be held in a smart contract. The developers will make the smart contract code publicly available on GitHub in coming days. All funds will be kept in a multisignature wallet, ensuring no one can move funds without the team’s permission. The team is also running a bounty campaign, which is well worth checking out.