Soundcloud Signs Mou With the Decentralized Music Platform Maestroproject

Soundcloud Signs Mou With the Decentralized Music Platform Maestroproject

SOUNDCLOUD have signed a memorandum of understanding(MOU) with MAESTROPROJECT to develop blockchain technology in music industry.

Music is what “makes the world go ‘round.” Not only is music a celebration of life and artistic expression integral to humanity, it is also a continuously growing industry of enormous potential. Every day more and more artists emerge around the globe, expanding their boundaries through various economic, social, and cultural paradigms. Yet despite its obvious significance, the music industry is riddled with a multitude of problems, and the process on which it runs is surprisingly vague and inefficient. Music distribution companies, the middlemen of the process, take away as much as 40% of all revenue that artists earn through their work, leaving especially new creators devoid of an opportunity to publish their creations. The obscurity of the current system further hinders artists from tracking their work, and fans from supporting them – creating a gap between the actual creators and the actual consumers.

SoundCloud is an online audio distribution platform based in BerlinGermany that enables its users to upload, record, promote and share their originally-created sounds.

The decentralized music platform powered by blockchain technology and Interplanetary File System (IPFS), aims to close this breach between creator and consumer, artist and audience. Through an easy, simple-to-use crowdfunding method, Maestro will provide a fair, transparent, and effective system to lovers of music everywhere – bringing great music to both the people who love listening to it, and those who love creating it.

Maestro for the Artists

Maestro offers a safe, stable, and transparent network on which artists can retain more freedom over the distribution and creation of their content. Through the decentralized system of Maestro, which effectively eliminates the third party from the process, artists will receive the revenue they rightfully deserve. Artists will be able to sell their content directly to their fans, reaching out not only on an economic level, but also on a social basis. The transparency provided by Maestro’s tracking system, which records every payment and transaction on blockchain, will further ensure security and stability for all artists; the Maestro smart contract will allow only authenticated users to upload and download content.

Maestro is especially proud to help newer artists release their work into the world through its crowdfunding process. With Maestro, creators no longer have to deal with the burden of publication and distribution costs, instead earning funding for their projects in advance. Art is priceless, but Maestro will help artists receive, at the very least, a fair price that they deserve.

Maestro for the Audience

Maestro acknowledges that consumers of music are as big a part of the music industry as the artists themselves. Through the crowdfunding system of Maestro, fans will be able to fund their favorite artist or song in advance, following the project as it is progressed. The transparent nature of the platform will make investing an easy, clean, and stable process through which consumers will play an active role in creating art.

In the end, of course, everything comes down to the music itself. Music platforms powered by blockchain technology often faces the problems of cost-efficiency, as streaming and downloading large .mp3 and .acc files through blockchain are yet a slow and inefficient process. However, the IPFS in Maestro will complement such shortcomings: through the system, clients will receive small fractions of files from nearby nodes, allowing the platform ultra-low latency. Simply put: Maestro can and will deliver high-quality music at the simple touch of a finger to anyone, anywhere.

Maestro believes that everyone should be able to express their love for music, whether by creating, listening, or investing. With Maestro, everyone is a conductor.

Maestro’s Private Sale is due to start on June 16th, 7 P.M. (UTC+9). For more information on Maestro Project and the ICO schedule, visit the homepage or the official SNS linked below.


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