It is not a big secret there are a lot of money in the music industry, specially for the music labels, and now in the digital age, for the few dominant download platforms as well. Although in the last decade a lot of things changed in the distributions model, not very much changed in the pockets of independent artists.
With this scenario in mind, Isaac Rodriguez, Ivan Rossetti and Ying Hao Chen designed VOISE, a decentralized music streaming and downloading platform that aims to monetize independent artists.
“We started brainstorming ideas last summer, around August. In November most of the platform was ready and around January/February we registered the domains and set up the website.” – Isaac Rodriguez, VOISE co-founder
The idea itself is not really new, what makes VOISE really innovative is the business model that aims to distributes 100% of the revenue to the artists. The revenue stream for the platform will come from the premium services that ranges from profile themes and personalization to fees for those users who prefer to use fiat payments. In fact, as the cryptocurrency ecosystem is all but mature, fiat payment option will be featured in the platform. At present time the platform is for audio only but that doesn’t limit it to music, content producers could upload podcasts, radio programs or audio books as well. Artists could also offer their content for free and ask for donations.
“In order to promote the VOISE platform between artists and users that are not very familiar with cryptocurrency we would like to make it easier for them to pay and get paid with their country’s currency if they want to. We plan to give benefits to artists and users who use VOISE tokens to promote the usage of cryptocurrency but both artists and users will be free to use their currency.” – Isaac Rodriguez, VOISE co-founder
A pre-alpha version of the platform is already live with a certain number of songs that can be streamed for free. The test music in this stage is free music. Although most of the artists are unfamiliar with crypto currency they liked the idea to be featured on the platform and they just asked to receive credit for their music. If you are not familiar with independent productions, the platform is worth a visit just to discover how good independent music can be.
Voisiums, ticker VSM, 100M supply, is the currency of the VOISE platform; They are used to purchase content. Built around Ethereum’s smart contract technology, the users can store the tokens on their personal desktop wallets or on the VOISE platform, send them to their friends or trade on the cryptocurrency exchanges, just like any other ETH token.
To fund the project VOISE will be running a crowdsale campaign based on the Ethereum smart contract system. The campaign starts May 6, 2017 and ends June 6, 2017. There will be 92 million tokens (VSM) for sale at 160 tokens x 1 ETH.
To be successful the crowdsale requires a minimum of 1.2M tokens sold (7500 ETH). If this amount is not reached, funds are returned to the investors. Unsold tokens, if any, will be burned and development fund will also be reduced at 5% of the total supply.