James Blunt is one of my favorite singers. It is always a pleasure listening to his songs; especially 'You're beautiful'. My routine involves reaching for my headphones each day and You-tubing to my heart's content little aware of the legalities, technicalities, and problems that an artist or a music label might be facing. I say this because I came across one his comments that for a million playbacks on Spotify James Blunt receives only 450 in euros i.e. £0.0004499368 per stream.
As per RIAA website,
Global music piracy causes $12.5 billion of economic losses every year, 71,060 U.S. jobs lost, a loss of $2.7 billion in workers' earnings and a loss of $422 million in tax revenues.
As such the music industry norms have lagged behind to cope up with the technology. Peer-to-peer file sharing through Napster, KaZaa, torrent etc. did a lot of damage. These sites though illegal catered to a large audience and music industry lost its revenues. Similarly, video streaming websites earn the major share out of the subscriptions with artists getting dimes for their hard work. A song in an MP3 format once downloaded can reach millions with no benefits to the artists. Also, the hierarchy and number of middlemen in the music industry never give an upper hand to musicians to decide on their own terms. The need of the hour is a platform that copes up with the developments and tries to remove all the inefficiencies. There have been several failed attempts in past to revive the industry albeit Fluxorin set aside as an exception.
Fluxorin is a decentralized system for the publication and consumption of music, combining a cutting-edge crypto currency provided with a very important mission of unlocking the potential of human creativity to be inspired and enjoyed by millions of fans.
Salient Features:
It brings transparency to the industry through the use of Distributed Autonomous labels (DAL). The DAL is a number of smart contracts that automatically start all the functions of a label, distributor or another entity with overhead almost entirely reduced.
This will allow all the parties engaged in the production of music to set their percentage of ownership. The extra bucks will fall into the pockets of artists and would subsequently trickle down to a few loyal friends as well.
It uses peer to peer storage and delivery technologies to publish and distribute much higher quality music by sharing the playlist among friends.
It enforces a PPP license (Pay per Play), thus whenever a song is shared, the terms of the contract are triggered and tokens flow automatically to the owner of the license.
It further employs a Sharism model where each playback represents an exchange between the musician and the listener.
This requires a fast mechanism with low transaction cost, where all traditional licenses and terms can be executed in one go.
Smart contracts allow for such a system with ease.
Problems of the current system solved by Fluxorin:
Exploitation of musicians
The shift from physical CDs to digital music
Traditional lengthy channels of distribution
Music piracy and sharing with zero benefits to producers
Cumbersome contractual agreements and paperwork
Failed channels of distribution such as Mycelia, Ujo, MUSE etc.
All these inefficiencies in the music scene are tackled quite well by the Fluxorin network by its dedicated team of professionals. The platform already boasts of huge media presence being rated highly by several blockchain agencies.
Benefits :
- The ways in which funds are distributed are controlled entirely by the musicians and no intermediary is required.
- The absence of middlemen and hectic paperwork and formalities reduces the overall cost.
- The transparency of blockchain along with the immutability of smart contracts provides a secure and trustless environment.
- The payment channels are automated and work across borders. This will further issue seamless playbacks.
- DLA provides for easy distribution of song records. Also, the rights of musicians and publishing houses are well protected.
- There is a proper allocation of royalties
- It is suitable for individual artists as well as big labels. Copyrighted content can be easily put up on the platform and revenues earned thereof.
- The system benefits the growth of musicians with seeping benefits for listeners as well.
- New startups can find the platform as a welcome home to meet diversified demands from the network.
- AI can help in generating personalized recommendations by slowing learning the tastes of the listeners.
- One can earn up to $100 in free TFT by inviting friends.
The Flux token and its ICO details:
The Flux token is an ERC20 ethereum based utility token for the Fluroxin network. It will be the sole currency on the platform used for rewarding and can be exchanged with other cryptocurrencies or fiat at the exchanges.
The Flux token will play a very important role on the platform.
- It will leverage the advantages of blockchain to solve the problem of artist royalties and payments.
- It will further ensure transparency in the complicated chain of rights ownership and usage in the digital distribution of music.
- And offer a new model of music decentralization via DAL.
A total of 702,000,000 tokens will be issued out of which 372,000,000 tokens will be up for sale in the ICO. Price per token will be $0.20 in the private sale and presale and $0.35 in the crowdsale. A minimum of $150 ETH for individual investors is set during the crowdsale. Bonuses are available up to 30% in the private sale and going to as low as 5% during the crowdsale. The tokens are WRC20 wallet compliant. The crowdsale softcap is fixed at $12,000,000.
Concluding Verdict:
Fluxorin as a platform has a lot to offer to the actors on the platform. While musicians and labels can benefit hugely from its superb interface and technologies, the users can enjoy and support their favorite musicians at a minimal cost. The users can even earn under the bounty program by inviting their friends to the platform.
The tokens provide for liquidity and usability on the platform. Early bird bonuses are available to the investors of up to 30%. The platform if gains popularity and is feasible enough can change the entire paradigms of the music industry to bring welcome changes for investors and musicians alike.
For more details visit:
Website: https://www.fluxorin.io/
Whitepaper: https://www.fluxorin.io/wp-content/uploads/2018/07/FLUXORIN.pdf
Bitcoin Thread: https://bitcointalk.org/index.php?topic=4406343.0
Facebook: https://www.facebook.com/fluxorin.io/?_rdc=1&_rdr
Twitter: https://twitter.com/fluxorin_io
Telegram: https://t.me/FluxorinICO
Blog By: Lanirm Knayam
Bitcoin Username: lanirm.knayam
BTT Profile: https://bitcointalk.org/index.php?action=profile;u=1308391