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
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.
This offer is based on information provided solely by the offeror and other publicly available information. The token sale or exchange event is entirely unrelated to ICOholder and ICOholder has no involvement in it (including any technical support or promotion). Token sales listed from persons that ICOholder has no relationship with are shown only to help customers keep track of the activity taking place within the overall token sector. This information is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice or carry out your own due diligence before taking, or refraining from, any action on the basis of the content on our site. Any terms and conditions entered into by contributors in respect of the acquisition of Tokens are between them and the issuer of the Token and ICOholder is not the seller of such Tokens. ICOholder has no legal responsibility for any representations made by third parties in respect of any Token sale and any claim for breach of contract must also be made directly against the Token issuing entity listed herein.
If you have any concerns about the nature, propriety or legality of this token sale or the persons involved in it please contact [email protected] with detailed information about your concerns.