Music, music, music, every now and then we hear it, either online, in the car anywhere in particular. It gives life more meaning, changes a sad spirit etc. But the "tool" responsible for bringing this music to the world, that is the artists or musicians, are they being rewarded, encouraged or incentivized to do more? This is the big question.
Owing to this question and thus the answer, most nations executed a sovereignty payment technique known or royalty payment method which is duly managed by the government. The reason for this is to guarantee artists are appropriately remunerated for their endeavours consequently empowering them to release more songs. In a journey to meet up with the expectation of the regulating authorities most music platform executed strategies, for example, SoundExchange which is situated in the USA, gathering payment for online communication through membership perks, subscription systems and so on. Then again, vast online Radio systems are not left out.
That is to say; if an artist is appropriately empowered and compensated for his past endeavours he will accomplish more. So if an artist isn't appropriately remunerated there are chances he may pass up a major opportunity.
To ensure adequate compliance with artists rewards and rights led to the creation of a dual token ecosystem known as CYFM (from CyberFM) and MFTU ( from Mainstream For The Underground) token ecosystem. This token ecosystem is based on blockchain technology, thus ensuring decentralization, transparency in related transactions, use of smart contracts etc.
CYFM and MFTU are based on open-source online royalty payment method, which will be used universally to protect the rights and payments of artists, musicians and performers.
SIGNIFICANCE OF CYFM AND MFTU IN THE MUSIC INDUSTRY AND THE WORLD AT LARGE
Cryptocurrency was ushered in by Bitcoin since then many cryptocurrencies have been invented and as such CYFM and MFTU.
CYFM and MFTU are both ERC20 token, which means they depend on Ethereum blockchain. Both these tokens are utilized to power the universal payment systems, in this manner enabling the platform to have the capacity to gather royalty payments for performances all across the globe.
They can also be used to execute a payment in place of fiat currency either for online Radio membership or registration fees.
Furthermore, each token has its specific use; when it comes to representing a regulated and compliant currency for artists, CYFM is used. CYFM is only used to protect the rights and payments of artists within a specific location or area. While on the other hand, MFTU is a bit different from CYFM as it is used to represent the world's first legal, digital currency, which is truly fair. It is also used to represent cryptographic Performance Rights Organization for Independent Artists worldwide, protecting their rights and payments.
CONCLUSION
A gathering of specialists intends to make a blockchain-based music ecosystem which will be fueled by CYFM and MFTU tokens.
The team aims to build MFTU and CYFM token ecosystem in such a way that it will represent an all-inclusive International digital currency which will be utilized to remunerate musicians, entertainers, artists globally.
These individuals whether musicians, entertainers or artists will be remunerated, not minding the Performance Rights Organization they had a place with. In any case, with regards to full motivating incentives, for example, extra income, rewards etc just the full individuals from the platform will be allowed access to it.
KNOW MORE ABOUT CYFM AND MFTU BY VISITING THE LINKS
Website: https://mftu.net/site and https://cyber-fm.com
Whitepaper: https://mftu.net/site/whitepaper/
ANN Thread:https://bitcointalk.org/index.php?topic=4511705.0
Join the Community;
Telegram Group: https://t.me/joinchat/EgF1dkxE_N0efcR_ff5gYA
Twitter: https://twitter.com/mftu_currency
Facebook: https://www.facebook.com/cyberfm
Bitcointalk: Aemma
Bitcointalk Link: https://bitcointalk.org/index.php?action=profile;u=2328723