The platform will offer: - tools for content creators/owners to publish their content and directly control the disbursement of payments to co-creators (e.g band members, song writers, producers, editors), - tools for content promoters to promote great content and be rewarded for their effort, - tools for content consumers (listeners, readers, etc) to find, share, and enjoy the new content and become promoters and creators themselves.
Attention. There is a risk that unverified members are not actually members of the team
$14 859 059
$238 369 066
Opportunities:Musiconomi is one of the first cofound.it projects and went through the rigorous vetting process employed by cofound.it.Team is competent with people from the music industry, technology and blockchain side. The team’s previous experience in the Musicoin project also provides them valuable experience.The project has already secured partnership with a music label, putting it ahead of its competitors.Network effect is present. The more promoters / musicians on board with the platform, the more valuable the platform is.The project is trying to solve a genuine problem that needs to be fixed. If Musiconomi is successful in its mission, MCI tokens should appreciate substantially.
Concerns:I’m not fully convinced that Musiconomi’s model completely fixes the music industry. Independent artists with little budget are still disadvantaged because they don’t have the marketing budget that the bigger players have. Promoters can earn more from promoting musicians with a deep pocket so they are more inclined to promote those with a higher marketing budget.The platform would generate many small transactions and the gas price on the Ethereum network would make such transfers cost prohibitive. The team has a few solutions on solving this issue, including creating “wallets” so promoters/users can withdraw only when the balance is large enough. However, the exact mechanism is not confirmed yet.There are other blockchain projects tackling the music industry, such as UJO, Voise, and Audiocoin.The project does not have a working product yet so technical this is just a “white paper” idea. However, the team demonstrated its execution ability from the Musicoin project which somewhat mitigate this risk.
Conclusion:Overall, I like this ICO for its short-term potential but am neutral about its long-term potential. Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Good because 1) hard cap of $6 million is very low in today’s standard so there is not much downside, 2) the project is comprised of an experienced team who worked on the Musicoin project.For long-term holding:Neutral. There have been many attempts from different companies to disrupt the music industry but most have failed. On the other hand, Musiconomi has a small market cap, so if the project becomes a success, MCI tokens should appreciate significantly.The team is only selling 25% of the tokens this time, with the option to sell another 25% of the total tokens 12 months after the ICO. This gives the team more incentive to deliver results, or else they wouldn’t be able to raise as much funding in the future, which is good for the token holders as the interests for different parties are aligned.
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