Soundeon is on the Way to Launch a Music Platform

bonanza-kreep (66)in #soundeon • 6 years ago (edited)

There is growing evidence that the provision of transparency alongside honest and equitable environment for interaction provided through blockchain technology, is becoming increasingly popular in the international world of music. It seems, that ICO campaigns help achieve a quality goal of connecting to the large-scale market players for a great number of independent musicians. Soundeon, an Estonian-based project, is exploring blockchain as a blueprint for music industry and will launch a media platform for digital music and event ticketing. Furthermore, it will address the issue of the copyright at the music marketplace and provide music fans with an opportunity to receive dividends from investments in a particular project.

https://soundeon.com/en/

Core elements of the platform

Licensing of musical works has been indicated as an area in significant need for change. One of the key reasons why identifying the musical works and recording became truly problematical, is the lack of a list of all rights holders who contribute to a songwriting. As a community-oriented platform, Soundeon will enable its stakeholders to issue their native tokens as a driver of the projects they intend to launch. For this, Soundeon Exchange will be introduced to allow right holders gain control over their creative works by allocating a certain part of their earnings to investors. Additionally, it will also allow for establishing partnerships between musicians and their fans, who in turn, can become investors.

Like the overwhelming majority of the projects in this field, Soundeon intends to launch its in-house player. As stated in the project description, musicians will be given an opportunity to choose from a range of distributors for offering their songs, including AWAL, TuneCore, etc.

https://soundeon.com/en/

ICO Details

Pre-ICO round has started on June 27 and will last till September 29, 2018 followed by the public ICO starting on September 30 and closing on October 30, 2018.

Having analyzed the information on the project provided via public sources and taking into account the level of experience of the team in the music industry, we nevertheless should conclude, that the project description resulted in a lot more questions than answers. First, we have already raised the question of the intense competition in the field. Given the fact, that companies need to stand out from the crowd, they propose unique features to be offered. Unfortunately, we could hardly indicate such gains from Soundeon, other than those arising from copyright issues to reduce fraudulent actions, but even this is a point in question with regard to its implementation strategy. Second, we would recommend the team to elaborate on the concrete actions to insure its implementation, as well as provide clear description of the platform's elements and how they are supposed to function in the whole chain. Provided that the projects of such kinds are not in a fortunate position in terms of the market segment since the environment is highly competitive and traditional centralized platforms are in no way inferior to emerging blockchain-driven platforms, we would recommend the team to enhance its profile work and deliver a clear explanation on how the campaign is to be run.