If you don’t know what Token Sales are, you need to learn about them. Here, token sales are being used to fund a blockchain platform for musicians to bring their music to a different kind of marketplace.
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Blockchain technology continues to find inroads into different areas of business and society, especially through the token crowdsale model. The latest company to announce a token sale is Musiconomi (MCI), the Blockchain-based music ecosystem.
Musiconomi is the second startup to pass through the cofound.it system for startup ventures, and has already had some success with the Musicion Project, a cryptocurrency and beta music streaming and sharing platform. Musiconomi builds on this Blockchain platform using smart contracts in order to distribute music and provide payment to artists each time a song is played.
The goal of this system is to put musicians at the helm of music distribution, allowing listeners and musicians to connect without the customary middlemen who add charges increasing the price of music distribution.
Musiconomi Chief Organizer Elio-David DiIorio said:
“Our experience of building the Musicoin platform gave us a strong sense of how empowering and transformative Blockchain technology can be. We have seen a tremendous appetite for the solution that Musiconomi represents, and we have also seen that the potentials are truly infinite.”
The crowdsale starts on July 28 at 11 a.m. EDT and will conclude August 28 with a minimum threshold of $6 mln and a maximum threshold of $18 mln. Many other upcoming crowdsales may distract attention from Musiconomi, but the company hopes to make waves in the sizable music industry.
Blockchain-based music ecosystem Musiconomi announces crowdsale of new Token, MCI.