Mozik is a decentralized music platform with the aim of diluting the monopoly of record labels in the industry throught non-fungible tokens (NFTs).
Music inspires tons of people today and has been described by many as something they simply can’t do without. Sadly though, despite the positive impacts of music, many creators don’t earn as much as they should. Failure to protect their musical contents, high competition in the industry as well as the huge chunk of profits record labels and managers take from musicians have prevented many creators from earning as much as they should.
All these problems can be solved via blockchain technology. Mozik leverages the security of the blockchain and capitalizes on the uniqueness of non-fungible tokens (NFTs) to solve these problems.
Mozik is currently being run by a great team that consists of tech and blockchain geeks as well as business experts. Most of the members originate from Asia.
The CEO of Mozik is Mario Lee, a leading business tycoon who is highly experienced in growing companies. He once served as the COO in Rolling Stone Mobile Digital Music. He is one of the creators of China’s first music app which was called “You Listen” in 2010.
The app was later purchased by Rolling Stone Mobile for $21 million. Lee fully understands the music space and culture and almost no one can boast of being more capable than him to lead the company. Cui Yu is the co-founder of Mozik. He also worked alongside Lee at Rolling Stone. Yu was the development director and he lived up to his responsibilities.
Another co-founder of the company is Han Jinwu who is an Apple Certified Technology Supervisor. He also holds the role of the COO of the company. Mozik has raised a reasonable amount of funds so far to keep the company running. Angel investors like Wang Yuehua have also contributed to the feat the company has reached this stage.
The organization views partnerships as opportunities to grow. So far so good, it has partnered with numerous organizations with a solid background in the blockchain and tech space. Some of these include Tezos, Chain Bridge, Infinity Labs, and Bitlink.
What is Mozik?
Mozik is a decentralized music platform with the aim of diluting the monopoly of record labels in the industry throught NFTs.
Since Mozik is founded on blockchain technology, like many other blockchain projects, it has its token which is based on the Binance Smart Chain. The MOZ token will be launched on the 20th of this month and public sales will open around 1:00 PM UTC.
There are 5,000,000 MOZ tokens available on the BSCPAD. At the moment, the token has a circulating supply of 25,550,000 MOZ.
Mozik for Artists and Music Fans
Since NFTs could be minted in form of music and arts, the platform aims at expanding the earning capacity of musicians, rewarding fans loyalty and serving as a podium that spurs the growth of talented upcoming artists. Some of the benefits of the platform to music creators and fans are highlighted below.
The Musicians Take Control
Lots of musicians or artists today are stuck in record label groups with bad reward ratios for the artist. This has become a major problem in the entertainment space. While artists are meant to earn a lot from their creativity, some are left sharing virtually all they’ve worked for with the label. Record label rewards are vital and must be paid, but not to the extent of being unfair to musicians. Musical NFTs will make it possible for musicians to reclaim their power back. They will no longer need to go through expensive publishers or hand over royalties but have the ability to spend less while making more via Mozik.
Extra Source of Income for Artists
Mozik gives artists the opportunity to sell more items and collectibles to fans. Fans can contribute to the growth or success of their favorite artists by purchasing digital collectibles related to the artist. While many artists are already financially stable, a few extra bucks wouldn’t hurt too.
Larger Fan Base
Mozik basically connects musicians to fans and vice versa. Artists will not only have fans via the traditional channels, which are radio, TV, and music platforms like Spotify and Soundcloud, but will have fans who can find them easily on the platform. This feature is especially beneficial for upcoming artists.
No Ticket Scalping
Mozik is not only going to benefit creators or artists but will also benefit fans alike. Using the platform, artists can sell tickets to concerts and performances. Today, it is all too common for tickets to be sold at exorbitant or inflated prices especially close to the period of a concert. The musical platform however ensures that the musicians are largely in control and fans get tickets at the standard price.
Limited Edition Collectibles
Usually, the role of fans in the music industry is to spend while the musicians earn. This model can be tweaked to the benefit of both parties. Fans, as well as musicians, can earn on the Mozik platform without one interfering with the other.
Artists can release digital tokens in form of music or art for fans. As the popularity of the musician and the art grows, the value appreciates. Fans who collected or purchased these digital items in advance will profit from the price appreciation with time. This will be made possible with the aid of smart contracts on the blockchain.
Part of the music rights of artists can be sold to fans as NFTs. As the artist grows, the value of the NFT royalty also grows. This will be beneficial to both parties and fans will be more enthusiastic about promoting their favorite artists.
It seems Mozik is here to solve most of the problems in the musical entertainment industry. Well, that can’t be said just yet as problems never get exhausted in any industry. However, Mozik’s goal of increasing the rewards of artists as well as that of fans can be seen as one of the next big things in the blockchain space.
At the moment, Mozik has an app that is currently being used by about 10 million individuals. The company has also organized over 150 offline music events. More importantly, the company wishes to make the music world beneficial and profitable for all involved.
This goal will definitely drive the adoption of the platform. In the coming months, we expect to see stunning innovations from Mozik will change the music industry for good. The great ideas that the project is founded upon, the superb team pushing the project, and the amazing people the project aims to revitalize make Mozik more than exciting.