MUZIKA – Transforming the Music World through Blockchain Technology

Muzika

About Muzika.

Muzika revolutionized the music industry by establishing an independent and true digital music ecosystem that would eliminate unnecessary intermediaries, empower musicians and consumers, decentralize distribution power, and restore the balance of economic distribution among market participants. Muzika holds the promise of the future where compensation for music creation is comparable to the effort and dedication put into the creative process.

Music is first digitized in MP3 form, the audio file format is usually compressed to only 3 to 4 megabytes per song on average. This innovation was provided by all other previous media from music, such as CDs and cassettes, obsolete and changing industries through enabling digital distribution. This has positive and negative effects for musicians. On the one hand, they are now able to release and distribute new music around the world at will. On the other hand, pervasive copyright piracy leads to a consequent decline in music sales, and exorbitant commission distributors, combined to reduce musicians’ personal gain.

Napster, a file sharing peer-to-peer (P2P) service engineered by Shawn Fanning and Sean Parker, led this revolutionary transformation. For the first time people can share digital audio files online, and services are fast gaining popularity among American students. At its peak in 2001 around 80 million registered users.

Muzika will bring innovation to the value chain in the digital music industry.

We will reform how values are created and captured by various players in the industry. We will restore appreciation to those who create value, from those who only transfer value, while restoring lost parts of digital piracy through blockchain technology.

What makes us different?

The previous music blockchain project has ignored the importance of a large user base to achieve wide-scale adoption. These projects have shown that it is possible to give artists a higher level of commission for their work using Smart Contract transactions. However, for artists, the low commission rates offered from traditional music streaming applications that have a large user base are more attractive than blockchain applications using Smart Contract transactions. For example, a 10% commission of $ 1,000 from iTunes is preferable to a 90% commission of $ 1 from a Smart Contract transaction.

WE ARE NOT STARTING FROM SCRATCH

Muzika is built on 2 million active users

Unlike hundreds of ICOs without proof of practicality, Muzika is not starting from scratch. The token economy is strongly built on the backs of our existing, profit-generating, and privately & publicly funded business with 2,000,000 active users & subscribers from 150+ nations and artists from 30+ nations.

Through years of experience, we have learned the precise ways to build a community run by loyal and incentivized individuals: a key to success of any community-based blockchain projects.

THE MUZIKA ECOSYSTEM