Cyber FM: Entering the Crypto Community

philmovs (37)in #cyfm • 6 years ago

Screenshot_2018-09-01-13-00-13-223_cn.wps.moffice_eng.png When one considers entertainment, what readily comes to mind is flying around the world and visiting choice spots. Music is one entertainment many had failed to adapt to. Before the advent of the internet, radio and television stations had been primary sources of information. With its coming, the internet had taken information to another dimension.

Online radios and television channels are the norm nowadays. Against this backdrop, Cyber FM joined the fray. Launched in the US in 2007, the station was dedicated to online streaming. Aside providing talk shows and other conventional radio programs, Cyber FM played songs that were not popular as the genres we have.

Haven held the space for long, it sought for another approach. It realized persistent downgrade of artists. Before now, artists garnered income by performing at concerts. With technological upsides, artists can now stream their songs online. However, they hardly get revenue for such.
Popular distribution sites such as YouTube and Spotify had streamed songs and remitted little or nothing to its artists. Save for Apple iTunes that allows payment for songs, artists have nothing to gain from online streaming.
Taking into account the success of the decentralized community and noting the impossibility of making changes in already-fragmented music industry, Cyber FM is moving into the crypto world.

#Goals

The aim is creating a platform where artists can release their songs and get rewarded. First, it came up with the term Mainstream for the Underground. Haven created different music streaming in the past; CyberFM is looking at a way of rewarding artists. To this end, it created its own token known as CYFM.
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The merger birthed another token – MFTU. Taking giant strides away from traditional monopoly exhibited by other online stations, CyberFM seeks to reward artists with the CYFM token. The token complies with specified regulations. On the other hand, CyberFM through the MFTU token is protecting artists from any illegality.
Incentives

Aside being royalty for artists, the tokens can also be used as rewards to end-users. When a user earns the token, he can use it to make in-app purchases and downloads. Tokens can be earned by listening to and taking active part in programs.

#Platform

CyberFM is backed by the block chain technology. After recording massive success in other sectors, the platform was ripe for other integrations. That was the basis that led to its adoption by CyberFM. As posited by its team, the block chain will be beneficial towards restoration of trust in the music industry. On the other hand, it will pave way for royalty to artists and incentives to users.

Though the project is rewarding artists, they only get such after they must have uploaded their songs on the CyberFM website and adhered to other guidelines. The token are ERC20-compliant but there will be no ICO for their funding.

Because of restrictions imposed on cryptographic currencies by the US which is where the project emanated from, crowd-funding for the project was shoved off. There might however be arrangements for airdrops.

Meet the Team

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Final Thoughts
CyberFM is repositioning its stake in the media industry. By identifying with the crypto industry, it might have just opened the pathway for decentralized media industry. On its part, the platform is addressing core issues in artists’ welfare.
Through its tokens, artists will be rewarded anytime their songs are accessed. Users on -their part will earn token-incentives when they participate in the process. CyberFM is championing a cause for artists and also making the media industry penetrable by the block chain.