What is Muzika Network Project?

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What is Muzika Network Project?

Muzika has access to 2 million active users from their previous company, Mapia Company. In addition, Muzika has established technical partnerships with Ontology, as well as commercial partnerships with Blackhorse, Panony, and Duane Morris and Selvam LLP. Their current investors include NEO Global Capital, Ontology, 256 Ventures, Blackhorse and other founding players in the blockchain space.

The company already has access to 2 million active users from their founders’ previous venture, Mapia Company. In addition, Muzika has established a technical partnership with Ontology, as well as business partnerships with Blackhorse, Panony and Duane Morris & Selvam LLP. Their current investors include NEO global capital, Ontology, 256 Ventures, Blackhorse, and other well-established players in the blockchain space.

The Muzika team consists of 3 entrepreneurs who have been successful in their previous ventures and were also featured in Forbes ’30-Under-30’. Together, they plan to take on a $45 billion music industry by eliminating unnecessary intermediaries, empowering musicians and consumers, decentralizing the distribution of power, and restoring the balance of economic distribution among market players.

The Muzika Group is made up of three successful entrepreneurs in their previous initiatives and has also appeared in Forbes '30 -Under-30 '. Together, they plan to invest in the $ 45 billion music industry by eliminating unneeded intermediaries, empowering musicians and consumers, distributing energy and restoring Balance the economic distribution between market players

Muzika will create an autonomous, self-sustaining ecosystem that is driven by artists and their fans in parallel, where compensation and rewards will become proportionate to the level of dedication to creativity. the music and the ecosystem behind them.

• The smart deal will allow digital music products to be transferred directly from artist to fan, ensuring fairer and more transparent economic distribution.

• Fans will be rewarded with loyalty points for their various community activities, which will be converted regularly into MZK money - the only means of exchange for all economic activities in the system. Ecological.

• Fans will have the opportunity to donate directly to their favorite artists, support them and receive exclusive benefits.

Why need for blockchain :

Smart contracts for transparent and fair distribution: Smart contract will allow automatic and instant transfer of tokens. No longer wait for end-of month to get loyalty points or worry about if transfer of tokens was fair and accurately distributed.
The content ownership right: With the use of blockchain, all contents information (e.g. owner) will be securely saved in the database which will allow interested parties to check if there are any undisputable record of who is the rightful owner of what content, hence protecting ownership right.

How Does Muzika Network Work?

Muzika’s digital music ecosystem will function as a channel for distributing and publishing music content while providing fair compensation to artists. Fans will also get to partake in all stages of a song’s lifecycle, ranging from sponsorship and production to consumption.

Overview of the Muzika Ecosystem:

Within this self-sustaining ecosystem, community members are rewarded with loyalty points for a variety of community activities, including voting, commenting, posting, and sharing songs. These loyalty points are then converted into Muzika’s utility token, MZK. The ecosystem also provides a direct link between sponsors and artists, enabling sponsors to pay artists directly for their music.

All transactions between sponsors, fans, and artists are recorded on the blockchain, which is a decentralized, secure, and immutable ledger. Outside streaming services are also able to participate in the ecosystem using the same shared blockchain ledger, which ensures ultimate transparency when accounting for the number of streams and subsequent royalty payouts.

Loyalty program breakdown:

The interaction between artists and fans

The Muzika ecosystem makes it very easy for artists to be supported by their fans. First, artists share their demo tapes, video clips or new compositional ideas with the community members. Next, they can begin fundraising for their music project once their posts receive enough votes and pass a number of copyright verification processes. Lastly, community members will become the patrons of the artists they like by sponsoring their work with MZK tokens. Smart contracts help facilitate the transfer of funds between parties on the Muzika blockchain.