NFT music platform Mozik is scheduled to launch its first crowdsale via IDO on Paid Network‘s Ignition launchpad on May 20, 2021.
Mozik Whitelisting and IDO
The music platform intends to raise funds via the selling of its equity coin $MOZ, which allows holders to have special rights within the Mozik ecosystem. It intends to ride on the back of the Ignition launchpads, which has successfully carried out various IDOs.
Whitelisting is currently open from May 8-12. Interested investors can fill out the whitelisting form via this link.
The IDO is scheduled to launch in May 20, 2020.
What is Mozik?
Mozik is an NFT ecosystem that takes on the entire music industry by filling the large gap between music fans and artists that exist in centralized streaming services including Spotify, Soundcloud, Pandora, and TIDAL. These platforms are known to charge users subscription fees and/or run ads while their users play. Yet Spotify pays merely $0.003 to $0.005 per stream to the artists while taking a huge cut of the revenue.
Blockchain technology was created to remove middlemen, which would allow a more meaningful interaction and connection for users, and the music industry is no exception. By cutting out the middleman artists and their fans can freely interact without any other party leeching from both sides.
Artists can now control their own intellectual property through NFTs, which would allow them to profit directly by selling the right to use their soundtrack. This transaction process will be conducted legally, which would allow artists to present proofs in the event of copyright infringement. Basically, they will mint their music via NFTs, which are then posted on the platform with a unique digital signature.
How Mozik Benefits Music Fans
We have outlined how Mozik gives artists a lot of advantages that are non-existent in centralized platforms. But Mozik intends to unlock new innovations that allow fans to enjoy more interaction with their favorite music stars.
Obviously, NFT tech will allow Mozik to provide limited edition collectibles in the form of music, music videos, GIFs, etc., which artists can sell to their most loyal fans. As the demand for such digital items grow, so will their value and market rate, allowing collectors to make a living buying and selling music industry digital goods similar to how digital and physical artworks.
Royalties will also come into play. The revenue raised from musicians’ NFT resales will allow them to earn as more people listen to their music, which would allow them to fund their future endeavors.
Mozik intends to revolutionize the music industry one NFT at a time. Participating in their IDO would mean having a stake in the plaform’s future.