Soundeon is a pioneering decentralized and vertically integrated music platform that covers all aspects of the music industry. From the creation and copyright of a work to the contractual resale of both existing and future music assets, to concert organization and ticket sales. Advances in blockchain computing enabled us to develop the patent-pending Creative Smart Contract (CSC)™, a self-executing media rights agreement that is the backbone of our platform. Informational symmetry, immutability and agility of the easy to use CSC™ inherently enhance fairness, transparency, and trust, which the music industry lacks.
The music industry is difficult to navigate, which makes it inaccessible for most musicians. They must seek recognition from music producers, managers, record labels and concert promoters who only partly address the artists’ needs.
Old ways lose their savor in the ever-changing world and the music industry requires new solutions as well. The kind that could guarantee equal opportunity for all.
Soundeon – a pioneering decentralized and vertically integrated music platform that covers all aspects of the music industry. From the creation and copyright of a work to contractual resale of both existing and future music assets, to concert organization and ticket sales.
Advances in blockchain computing enabled us to develop the Creative Smart Contract (CSC)™, a self-executing media rights agreement that is the backbone to our platform. Informational symmetry, immutability and agility of the easy to use CSC™ inherently enhance fairness, transparency and trust, which the media industry lacks.
The music industry is traditionally split between recorded and live music ticketing, each with their unique and inefcient practices nullified with the advent of the internet. Soundeon’s novel approach to resolving the hurdles faced by artists and fans on and ofine requires the blockchain platform to natively address these market frictions layer-by-layer. Hence below, we set forth to discuss the most pressing problems in recorded rights management and distribution, followed by, live event ticketing (otherwise known as touring). This section concludes with an explanation of the massive disconnect that exists between recorded and live music and the enormous value potential from using blockchain to integrate these traditionally segregated aspects of music industry.
Contemporary music publishing agreements contribute 65 to 85 percent of the aggregated net publishing income to the songwriter. Seemingly straight forward at first glance, and an improvement since the burdensome 50/50 profit split agreements that were common pre-1980. However, to this day the “cost deduction” clauses remain the favorite trade trick of publishing royalty sharks. Such clauses are infested with inflated or purely arbitrary terms which govern advances, administrative costs, and restrictions
Features
- Music Token Sale – An opportunity for artists to launch Token Sales and finance personal projects through the support of the Soundeon community.
- Soundeon Exchange – A tokenization tool and a decentralized exchange of intellectual property where everyone can buy or sell their royalty income with an opportunity to create diversified personal music royalty portfolio.
- Soundeon Tix – fan-centric blockchain-based smart ticketing platform is natively embedded on the Soundeon environment. Dynamic QR codes and Creative Smart Contracts eliminate ticket scalping, fraud and empower organizers to take full control of ticket resells both on primary and secondary markets. TM
- Soundeon Monitor – Royalty data aggregation from Soundeon and third-party providers, with integrated data analytics that covers all aspects of the artist’s creative output (including: copyright, royalty collection, ticket sales).
- Soundeon Player – A music player that utilizes blockchain technology for transparent royalty distribution.
Delivering a transparent, equitable, immutable place of settlement of royalty rights constitutes a perfect use case where advantages of blockchain technology are exploited to their fullest potential.
Artists, songwriters and other rights owners who register their creations on the Soundeon Monitor are able to sell fractions or entire future earnings of their works. Exchange occurs in-kind, in fiat, the Soundeon Token, or other leading cryptocurrencies.
Utilizing modern fintech techniques, including micropayments and securitization, hardly previously introduced into the music business, Soundeon Exchange evens out the playing field for truly independent artists to compete with big labels. At the same time, it is an excellent opportunity for fans to create diversified personal music royalty portfolios that are uncorrelated to traditional asset classes and provide diversification from market volatility
The Soundeon protocol token – the Soundeon Token is a vital utility tool used to align economic incentives amongst platform participants. Simply put, the Soundeon Token is payment mechanism for services to be rendered on the Soundeon platform. Operational services provided by Soundeon will incur some transactional fees playable in Soundeon Tokens. Fees may be incurred by content providers (i.e. intellectual property owners or service providers) and well as the content consumers (i.e. listeners, ticket buyers), depending on the platform layer.
Main incentive for Soundeon to develop a distributed application is to ensure trust and fair play. Hence, all value transfers are performed on the blockchain, and blockchain smart contracts are used wherever possible.
Soundeon is heavily focused on users’ privacy, keeping all sensitive data outside of publicly available storages and introducing industry leading standards in governance and cyber security
For Information
Website: https://soundeon.com/en/
Whitepaper: https://soundeon.com/Soundeon_WP.pdf
Facebook: https://www.facebook.com/soundeon/
Twitter: https://twitter.com/soundeoncom
Telegram: https://t.me/soundeon
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