If you ask anyone about what their favorite pastime is, more often than not the answer would be listening to music. Truly, music is much more than just a hobby. It refreshes our mind and gives us new energy to work.
But the current music industry is riddled with various problems. Even though the revenue generated by this industry is increasing by as much as 40% every year, the royalties earned by musicians and singers are very very low.
One of my uncles is a singer, and he told me, "I would not want my children to follow this path anymore. Huge amounts of money are taken up by the copyright holders, in most cases, it is not the singer himself, but the company with whom he has recorded the album. The royalty paid is a meagre amount of the profit. They never show us how they calculate the amount we are supposed to receive, but just transfer some sum to us. The future is very very uncertain here. I hope this changes soon, but I don't see a way out honestly."
And this is supported by many musicians. If you look up the web, you will find that musicians are demanding for their well-deserved royalty for years now, but to no avail.
In the past few years, there has been a radical shift of the listeners from cassettes and CDs to the online world. In the online world, piracy is everywhere and this adds to the woes of the musicians.
Fluxorin understood that the real effort is put in by the singers and producers themselves, and not the production house who recorded their songs and publicized it. This is why they have created a platform that offers a whole new way of creating music along with solving the eternal problem of artist royalties.
What is Fluxorin?
Fluxorin uses the blockchain to solve the above-mentioned problems, including the problem of piracy.
In the Fluxorin platform, each participant who has played some role in the production of a music track can set his ownership percentage in the track. Whenever some revenue is generated from this music track, the profits would be distributed in the same ratio as the ratio of ownership of various participants. Since the platform works on Ethereum blockchain, operational costs are extremely low and hence the profits earned by all participants is maximized.
Some percentage of this extra money is also shared with some loyal fans who have helped a music track go viral, which is totally justified.
In this way, The entire online listening to music process is changed. Whenever a listener listens to a music track, some payment goes into the account of the musician. A nominal amount is retained by Fluxorin, the rest is divided in the ratio of contribution. Thus, Fluxorin changes the music industry once and for all.
How does it work?
The entire online listening to music process is changed. All these days, we used to listen to music, either bought in CDs under the banner of a production house, or online music published by these houses.
The production houses would then get money for the music that we bought or listened to and then process the payment to the songwriters, musicians, lyricists etc. The payment was uneven and quite opaque which led to dissatisfaction among them.
But with Fluxorin, this will change forever. When publishing a song, the different members can set their contribution percentage.
When a listener listens to a music, a fee is transferred from the listener to the musicians. Fluxorin deducts a very nominal fee and transfers the remaining amount which is distributed in the same percentage as the contribution percentage set by the creators of the song. Since no intermediaries are involved, payments are not delayed and the profit earned by the creators are maximized. The eternal problem of royalty that musicians and band members complained off is now history, thanks to the wonderful Sharing model shared by Fluxorin.
In this manner, Fluxorin paves the way for new standards in the music industry. This will surely make the future better for all the musicians and will attract many new young talents to follow their passion.
About ICO
The Flux token or the TFT token is the token that fuels the Fluxorin platform. It will solve the problem of artist royalties and payments as well as copyrights issues through a transparent process using the Ethereum blockchain. It will also offer a completely new way of music production.
The total number of TFT tokens that will be generated is 372,000,000. 53.7% of these tokens will be sold during the ICO phase. All unsold tokens during the ICO will be destroyed and no new tokens will be generated.
The ICO sale will take place in the third quarter of 2018.
The project is currently priced at $0.20/TFT token, accepting Ethereum (ETH) and BitCoins (BTC).
The project is hard capped at $55,000,000.
The maximum bonus that can be availed by early contributors during the ICO sale is 15%.
Verdict
The music industry has been unfair to the singers, artists, and musicians who have played a pivotal role in the production of a hit track. The majority of the profits have been gulped down by media houses and the artists' futures have been made insecure, in spite of their numbers reaching the top of the music charts.
With the advent of online music, the problem of piracy has only added to the woes of the artists.
This has caused a lot of new entrants into the market to shy away from entering this industry and searches for other better and secure options.
Fluxorin identified these problems and this is why they have created a wonderful platform that solves all of these problems.
With the direct transfer of payment from listeners to artists, the problem of music royalty is solved. Since the platform is built on Ethereum blockchain, full transparency is maintained in the process.
In this manner, Fluxorin changes the music industry once and for all. The current musicians, as well as the aspiring ones, can now heave a sigh of relief and follow their dreams!
Website: https://www.fluxorin.io/
Whitepaper: https://www.fluxorin.io/wp-content/uploads/2018/05/FLUXORIN.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=4361686.0
Facebook: https://web.facebook.com/fluxorin.io/
Twitter: https://twitter.com/fluxorin_io
Telegram: https://t.me/FluxorinICO
Blog by ollivander7
Profile: https://bitcointalk.org/index.php?action=profile;u=1069616