MUZIKA : A DYNAMIC PLATFORM FACILITATING THE DECENTRALIZATION OF THE MUSIC INDUSTRY FOR OPTIMUM BENEFITS

OVERVIEW:

Music, they say, is the tonic for the soul. From ages past, music has always played a significant role in the civilization of man. It has served various purposes from entertainment to official uses. Today, music has moved to a more commercial outlook as musicians can now consider it to be full-time jobs or careers. How did we get here? Thanks to the growing and changing parameters of the industry, the industry has transformed into a full-blown multi-billion dollars’ worth industry.

THE DIGITAL REVOLUTION
It has been observed that gradually but steadily, the music industry has metamorphosed from the analog and physical models to a more digital outlook. This has happened in a two-fold manner: from hard copy disks, and table turners to having the files in digital downloadable media formats. The second fold involves the transition from just downloads to now merely streaming the music files online. This transition has helped in boosting the valuation of the industry as a whole.

WHAT IS MUZIKA?
Muzika is a platform for the decentralization of musical products and musical stakeholders where artists finally stand to get more from the industry other than what they've been receiving. It's a proposed ecosystem and community that seeks to encourage active engagement of not just the musical artists, but also the fans and listeners, creating an atmosphere where all like minds who have got the interest of the music at heart to come together to work at producing excellent results.

CHALLENGES OF THE MUSICAL INDUSTRY

MONOPOLISTIC TENDENCIES OF DECENTRALIZED OPERATIONS: Currently, there exists just a handful of stakeholders who hold the music industry to a ransom by holding over 3/4 of the assets and shares of the industry. This monopoly is fuelled by the singular fact that the music industry is largely centralized and hence encourages this limitation of proper distribution of assets and benefits in the industry. Hence, we see only a tiny percentage enjoying what's due to the larger populace.

UNFAIR PROFIT REMUNERATION SYSTEMS: The systems put in place for the calculation and disbursement of profits for the music makers within the industry is usually unfair towards the musicians. We see sharing formulas not going to the favor of the artist's with cooperations and labels earning the larger chunk of the deals. So, in spite of the hard work being put in by the artists, you discover little or nothing coming to the musician.

THE BATTLE AGAINST PIRACY: Music piracy is like a cankerworm that has sunk its ugly teeth into the hem of the music industry. It's been a lingering problem that has been fought over and over and through several means and devices. However, most attempts have ended in abject futility. This is encouraged through the open source nature of the internet which encourages mostly people of the younger generation to be uninterested in purchasing musical files but prefer to just download them illegally.

THE MUZIKA COMMUNITY
This community of music lovers, fans, listeners and music makers thrives based on the implementation of a symbiotic relationship that would be existing between all parties involved in the platform. Party A gains while helping Party B, and Party C gains due to help from Party B. This way, a sustainable platform is created.

THE MUZIKA TOKENOMICS
On the platform, the Muzika Coin (MZK) would serve as the token of choice. This token would provide a means to solidify the community relationship and standings, serves as a means to transact on the platform, purchase music and make other forms of payments. Also, when fans may choose to render assistance of any sorts, the coin is utilized. For giving back to the society through community-based projects, the coin is used for the organization of all such events.

PARTNERS:

In a bid to achieve some of the huge objectives of the Muzika project, the conceptualizers of this platform entered into strategic partnership with some reputable and value laded partnership with some organizations and institutions some of which you can find below as captured.

THE MUZIKA TEAM:

There is no gainsaying that the Muzika team, advisers and development team comprises of individuals experienced with the background of global music technologies technical experts. Interestingly, they have the weight of the Naver and Kakao, South Korea’s tech giants behind them. They have proven pedigree and can hold their technical savvy high anywhere in the globe.

CONCLUSION
The commercial potential of music in our current age cannot be downplayed. It will be foolery to underestimate how far the music industry can expand and choose not to tap into its opportunities. However, to get the best from the industry, one must have to fix the flaws that yet exist. Muzika has chosen to first find a sustainable solution and then decentralized the industry to give us much more for next to nothing.

For more information, click on the links below :

Website: https://www.muzika.network
Twitter: https://twitter.com/muzika_official
Whtepaper: https://www.muzika.network/assets/mzk-whitepaper-en.pdf
Telegram: https://t.me/muzika_english
Facebook: https://www.facebook.com/muzikanews/
Reddit: https://www.reddit.com/r/muzikaofficial/
github: https://github.com/MuzikaFoundation
Medium: https://medium.com/muzika-official

Author's Bitcointalk Username: Jannyh
Bitcointalk Profile URL : https://bitcointalk.org/index.php?action=profile;u=1883625