Maestro is primarily composed of two parts: "Symphony," the streaming service, and "Ensemble," the crowdfunding center. Artists can raise funds for their project prior to production through Ensemble. After completing the project, they can then distribute their creations and generate revenue through Symphony. The distribution and handling of rights, copyright, and transactions are all transparently executed through Symphony in accordance with data recorded on Maestro's blockchain.
Maestro will become the new paradigm for the music industry. We at Maestro will provide an environment that allows for unhampered creation as well as an ecosystem that fairly divides rights of songs between artists and investors, and profits among all token holders. Maestro aims to revolutionize the bureaucratic media industry and to cooperate with existing parties to ultimately aid and nurture a greater diversity of artists.
Maestro will become the new paradigm for the music industry. We at Maestro will provide an environment that allows for unhampered creation as well as an ecosystem that fairly divides rights of songs between artists and investors, and profits among all token holders. Maestro aims to revolutionize the bureaucratic media industry and to cooperate with existing parties to ultimately aid and nurture a greater diversity of artists.
Blockchain technology is undeniably changing the face of the digital music industry. However, existing blockchain music services focus solely on improving established streaming and distribution structures, and fail to address fundamental problems of the current industry. Future music products developed with blockchain, unlike their predecessors, must utilize the technology to provide innovative functions that revolutionize the music industry at its core.
Maestro started with such a need, to solve a problem that plagues the music industry today: namely, the unfair structure of the industry itself. Third parties, such as labels and agencies, currently reap in over 80% of generated profits, leaving artists with barely any support and struggling with financial burdens. Music player companies only exacerbate this inequality through inefficient bureaucracy.
We at Team Maestro believe that for both music and its industry to thrive, we must provide an environment focused foremost on promoting the creative efforts of artists and guaranteeing their fair compensation.
Therefore, we propose a blockchain-based music platform that acts as a creative ecosystem established on virtuous cycles of mutual cooperation between creators and consumers. Music distribution rights are currently monopolized by third parties such as labels and production companies, who have used their influence to control the resulting profits.
The inequality inherent in such a distribution structure affects not only artists, but also consumers, who become burdened with unreasonable prices they must pay to enjoy music. Maestro aims to create a transparent industry through decentralization with blockchain technology. By leaving out the "middlemen" from the process, consumers will be able to use streaming services at considerably more reasonable prices.
Maestro started with such a need, to solve a problem that plagues the music industry today: namely, the unfair structure of the industry itself. Third parties, such as labels and agencies, currently reap in over 80% of generated profits, leaving artists with barely any support and struggling with financial burdens. Music player companies only exacerbate this inequality through inefficient bureaucracy.
We at Team Maestro believe that for both music and its industry to thrive, we must provide an environment focused foremost on promoting the creative efforts of artists and guaranteeing their fair compensation.
Therefore, we propose a blockchain-based music platform that acts as a creative ecosystem established on virtuous cycles of mutual cooperation between creators and consumers. Music distribution rights are currently monopolized by third parties such as labels and production companies, who have used their influence to control the resulting profits.
The inequality inherent in such a distribution structure affects not only artists, but also consumers, who become burdened with unreasonable prices they must pay to enjoy music. Maestro aims to create a transparent industry through decentralization with blockchain technology. By leaving out the "middlemen" from the process, consumers will be able to use streaming services at considerably more reasonable prices.
Today's media are no longer focused on television and physical albums. Digital music profits account for 50% of global recorded music revenues, and the music market is continuously growing even now. The digital music industry generated a revenue of $7.8 billion in 2016, recording growth of approximately 17.7% over 2015. The growth of the music market can be attributed to the development of digital devices, the dissemination of music production services, and the diversification of music channels and other outlets. Many artists can now create and present highquality music more easily at lower costs.
The structure of the music market has also changed. The focus of the industry has shifted from downloads to streaming, with streaming taking up 60.4% of all generated revenue, and 112 million active users subscribed to paid streaming services. The total number of streaming distributions to date from Spotify, one of the biggest streaming services in the industry, exceeds 10 billion. Technological advancements such as faster telecommunication speed, dissemination of AI speakers, and development of connected cars are expected to further accelerate future growth of streaming services. It can be safely predicted that the structure of the music industry will continue to shift towards a streaming based paradigm.
The structure of the music market has also changed. The focus of the industry has shifted from downloads to streaming, with streaming taking up 60.4% of all generated revenue, and 112 million active users subscribed to paid streaming services. The total number of streaming distributions to date from Spotify, one of the biggest streaming services in the industry, exceeds 10 billion. Technological advancements such as faster telecommunication speed, dissemination of AI speakers, and development of connected cars are expected to further accelerate future growth of streaming services. It can be safely predicted that the structure of the music industry will continue to shift towards a streaming based paradigm.
We at Team Maestro also agree that there is an urgent need to resolve the value gap and steer the industry away from the anachronistic systems that continue to stifle artists' creativity today.
-A Loss for Artists: An Unfair Profit Structure
-A Loss for Consumers: An Inefficient Payment Structure
Maestro is focusing on fast software development of a smooth service for the music platform. Maestro uses EOS.IO-based blockchain technology. We chose EOS.IO because of its high scalability using parallel CPUs, far superior speed, and free transactions based on DPOS. To maximize profits for artists and minimize burdens for consumers, Maestro uses an EOS.IO-based blockchain that does not require any individual transaction fees from users. The cost of the blockchain is charged to the developer using EOS.IO. There are no costs apart from the coins deposited to the developer. We use EOS.IO blockchain technology to increase the benefits of decentralization for all users.
Maestro's goal is to decentralize all areas of service. The Maestro team has reviewed the technology for implementing file transmission, streaming, and other functions using distributed servers. The Maestro System will use a distributed server system called IPFS (The InterPlanetary File System) to transmit streaming files.
IPFS is a distributed file system that uses a structure to connect computers to the same file system. IPFS has implemented a server- and client-based web using a P2P method. Previously, webs could only be maintained using a centralized server. With IPFS, webs can be distributed and maintained without a centralized remote server. In other words, even if a server becomes inoperable, the files are distributed through P2P, allowing them to be shared without delay. EOS.IO uses IPFS to implement the distributed storage, which is also the reason EOS.IO was chosen for the Maestro system. Developers using the EOS.IO platform put up a set amount of coins in order to guarantee the CPU and storage usage for the EOS.IO blockchain. As the holder of the Maestro tokens, Maestro allocates the profits generated by its platform to all other token holders. Maestro is also allocated with platform profits based on the number of tokens we hold. Part of these allocated tokens will be used to purchase and deposit EOS coins to ensure smooth Maestro system operation, leading to quality service maintenance and enhancement. Maestro will progressively upgrade the Maestro system, according to the development stage of EOS.IO.
The Maestro team promises to lead the project efficiently and decentralize service operations progressively. We seek to address any of the problems or uncertainties found in other music platform projects, and hope to operate and expand our operation in a practical and rational method.
IPFS is a distributed file system that uses a structure to connect computers to the same file system. IPFS has implemented a server- and client-based web using a P2P method. Previously, webs could only be maintained using a centralized server. With IPFS, webs can be distributed and maintained without a centralized remote server. In other words, even if a server becomes inoperable, the files are distributed through P2P, allowing them to be shared without delay. EOS.IO uses IPFS to implement the distributed storage, which is also the reason EOS.IO was chosen for the Maestro system. Developers using the EOS.IO platform put up a set amount of coins in order to guarantee the CPU and storage usage for the EOS.IO blockchain. As the holder of the Maestro tokens, Maestro allocates the profits generated by its platform to all other token holders. Maestro is also allocated with platform profits based on the number of tokens we hold. Part of these allocated tokens will be used to purchase and deposit EOS coins to ensure smooth Maestro system operation, leading to quality service maintenance and enhancement. Maestro will progressively upgrade the Maestro system, according to the development stage of EOS.IO.
The Maestro team promises to lead the project efficiently and decentralize service operations progressively. We seek to address any of the problems or uncertainties found in other music platform projects, and hope to operate and expand our operation in a practical and rational method.
Funding and Token Distribution
MAEs are provided through snapshots of the wallets in Ensemble. Platform profits are allocated once per week. The Maestro team's goal is to decentralize the profit structure through blockchain technology. All platform profits are affected by the number of MAEs held. Unsold tokens will be destroyed. Due to inflation, issuance of additional tokens is expected to take place once per year, and further issuance is prohibited as a rule.
Goals to Attain
Soft cap for ICO: None Hard cap for ICO: 62,000 ETH
Soft cap for ICO: None Hard cap for ICO: 62,000 ETH
The Maestro team is under way with the project already, with KRW 500 million funding. Consequently, there is no set soft cap, and the project will proceed regardless of whether we achieve the target amount or not. After the 2nd ICO, there will be no additional token sales.
Token Allocation
The tokens provided to ICO participants are comprised of 62% of the total number of tokens. Profits from the Maestro platform are returned to token holders, and the system receives no separate fees. Therefore, the company will keep 22% of the total number of tokens for the purpose of Maestro streaming service operation and management. The Maestro team's share is 13%, which is locked up for one year from the date of ICO conclusion. The remaining 3% will be placed on a Bounty Campaign for social media marketing purposes.
"To create a productive environment where artists are actively supported, a structure in which the rights of creative works are fairly allocated, and an ecosystem where artists and investors can cooperate to share profits"
For more information click the link below :
Website : https://maestroproject.io/
Whitepapper : https://drive.google.com/file/d/1BNTYyrSiE0mh5Uh0UCWN9Z6SDMRof3gv/view?usp=sharing
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Author : TsabArt
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Address : 0x7ce231c609Ff5dD02aB38d4ca467cfE182Af7e0d
Website : https://maestroproject.io/
Whitepapper : https://drive.google.com/file/d/1BNTYyrSiE0mh5Uh0UCWN9Z6SDMRof3gv/view?usp=sharing
Telegram : Join Here
Author : TsabArt
Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1388259
Address : 0x7ce231c609Ff5dD02aB38d4ca467cfE182Af7e0d
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