eMusic is a music platform that has serviced more than 47 million music fans since 1998. A new project of eMusic is aimed at creating fair conditions to pay the musicians for their art based on a decentralized ecosystem. Insider.pro tells all about the new direction a famous platform is taking.
About the Project
eMusic is an existing project with a multimillion audience, which set out on a new task. According to the team "the mission of the project is to rebuild the infrastructure for the distribution of music from within in order to achieve a balance in the deliveries and rewards that flow between fans, artists and platforms that serve them."
The project plans to create:
- new reward functions for users of eMusic;
- a completely transparent music publishing system that can be used by any manufacturer, creator or music provider;
- a platform that converts efficiency and automation into revenues, allowing music providers and stream services to enter more profitable agreements with existing content providers;
- a set of tools for managing music licenses and rights holders;
- an infrastructure that will integrate the eMusic vision of the rebuilt music industry with existing providers and retailers.
According to the whitepaper, the team has already made agreements with its label partners that provide eMusic more than 26 million tracks for purchase to use eMusic token immediately after its issuing.
Here are the pros of the future eMusic platform:
It’s worth noting that the project pays excessive attention to the legal part and has consulted numerous law firms and experts.
Currently, according to the roadmap the team is at the stage of developing the blockchain and the token with the platform launch planned for the 2nd quarter of 2019, therefore there is no information on technical aspects in free access.
Overall score: Good
The eMusic token called EMU is an ethereum ERC-20, designed to enhance the basic functionality of eMusic platform. It will be accepted as a payment tool in eMusic retail store, a reward for loyalty and access to additional functions such as unlimited cloud storage and discounts.
According to the team, EMU token also represents a contribution to the future of the music industry, where artists will receive a fair reward for streaming their work, and music fans will be closer to the artists they love.
EMU are not intended to serve eMusic as an "investment opportunity, its importance consists in enabling the blockchain function for performers and fans on the eMusic platform.
The cost of EMU token will be approximately $0,35. The soft cap is $20,000,000 and the hard is set at $70,000,000. Initially, from 60,000,000 to 200,000,000 tokens will be sold. Total supply is 500,000,000. All buyers during token sale will be subject to KYC and AML performed on behalf of eMusic.
Overall score: good
Team and Community
The team and advisors of the project look impressive. CEO Tamir Koch, has collectively been responsible for over $1 billion in exits and funding and has been involved in over 30 blockchain projects. As it was previously mentioned in the roadmap, the project uses services of lawyers, but for some reasons they aren’t listed as advisors.
As for the activity on social network, such as Facebook (42 thousand subscribers), Twitter (23 thousand subscribers), Telegram (8,5 thousand subscribers) - so everything looks great, which isn’t surprising since the label has existed for a long time and is recognizable. At the same time, there isn’t much activity in the specialized networks of blockchain community (Github, Reddit).
Overall score: great
Total Supply 500,000,000 EMU
For Sale 60,000,000 – 200,000,000 EMU
Soft Cap $20,000,000
Hard Cap $70,000,000
Additional Emission No
Accepted Currencies BTC, ETH, fiat
Token Type ERC-20
EMU Price $0,35 – 0,40
Sale Starts September, 2018
Sale Ends October, 2018
In our opinion the idea of eMusic deserves respect and attention and as the team said, in the modern music world the issues of legal use of copyright, content distribution and honestly earned fees - is very acute.
At the same time, like many other projects eMusic plans to engage in crowdfunding during the autumn of this year, and only then to create a blockchain platform, which may say, that the project which has been successfully working over 20 years, isn’t ready to spend its own funds on a new idea, and that is alarming. So it’s difficult to draw a conclusion about the technical components (which are always the most important) of the project.
But we won’t be too strict as we as always hope that the platform with a multi-million audience will clearly not take reputation risks and is set launch towards a new direction in 2019.
Click here to visit eMusic page in the list of upcoming ICOs.