1 Jul 2018

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MAESTRO ICO Review - Based Music Streaming Platform For Artists



Maestro project 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 an inefficient bureaucracy.

The company at Team Maestro believe that for both music and its industry to thrive, the company must provide an environment focused foremost on promoting the creative efforts of artists and guaranteeing their fair compensation. Therefore, the company proposes 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.

Maestro project 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. The company 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.

Basic Information

Token
MAE
Price
1 ETH = 10,000 MAE
Platform
Ethereum
Accepting
ETH
Hard cap
62,000 ETH
Country
Singapore
Whitelist/KYC
KYC & Whitelist


Whitepaper                   Click Here For reading Their Whitepaper
Website                         Click Here For Visit Their Website Official
Ann thread                    Click Here For getting Information Update
Telegram                       Click Here To Join Telegram Official

Maestro Platform

Maestro project is focusing on fast software development of a smooth service for the music platform. Maestro uses EOS.IO-based blockchain technology. The company chose EOS.IO because of its high scalability using parallel CPUs, far superior speed, and free transactions based on DPOS. To maximize profits for artists and minimize burdens for consumers, Maestro uses an EOS.IO-based blockchain that does not require any individual transaction fees from users. The cost of the blockchain is charged to the developer using EOS.IO. There are no costs apart from the coins deposited to the developer. The company uses EOS.IO blockchain technology to increase the benefits of decentralization for all users.


Business Differentiation

The maestroproject goal is to achieve stable operation and fast strategic progress of the service by focusing on realistic and fast business operations. New artists wanting to start projects can raise funds through marketing activities on music communities focused on MIDI production. The vast majority of composers and artists are chosen and debuted by major production companies through these communities. In South Korea, Current, Midiuser.net, and Grafolio are some of the popular communities used by new artists. 

This system of funding new artists also create opportunities for investors to make an even higher profit when major production companies recruit new artists. Maestro can also establish cooperative relationships for small to medium production companies. These production companies can more easily secure production funds to produce high-quality music. The vast majority of small to medium production companies currently supplement their production costs through investments from major labels or production companies.

Funding and Token Distribution

MAEs are provided through snapshots 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 MAEs held. Due to inflation, issuance of additional tokens is expected to take place once per year, and further issuance is prohibited as a rule. The Maestro team is underway with the project already, with KRW 500 million funding. Consequently, there is no set soft cap, and the project will proceed regardless of whether Maestro project achieves the target amount or not. After the 2nd ICO, there will be no additional token sales.

The Maestro System: Blockchain Process

Artists can create their accounts and design their projects to be funded. After a funding project has been established, the artist can create SOMs for distribution of ownership. Artists must make a one-time registration fee payment ($1 worth of Maestro tokens) to register for crowdfunding, and exclusively secure unique SOM names, implement smart contracts, etc. 

The SOM name for funding shall be comprised of six characters including special characters. Artists can assign rights for their entire projects when designing project funding. Through separate smart contracts, the system divides the rights to the funded songs, albums, etc. for sale. Data used in funding projects include the funding name, creative work form, funding duration, price, total amount issued, allocated sales amount, participant allocation of rights, disposal details for unsold amounts, artist wallet address, project duration and milestones, methods for balancing accounts, and more.

Roadmap



Mission and Goals

Maestro project goal is to change the current centralized management system to a decentralized platform among users with blockchain technology. Ultimately, the company wants to revolutionize the music streaming industry so that the profits returned to artists and investors are more fairly distributed. Inevitably, there will be obstacles to implementing new technology in an already mature music industry. 

New technology must harmonize with the current industry’s structure and has to be accepted by all its stakeholders. Barriers to entry are even higher due to the strong culture and longstanding conventions of the industry. Therefore, Maestro’s team will focus mainly on segments where blockchain technology can be realistically implemented. It must reconcile with the existing bureaucratic music industry to make swift progression.
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