Mainstream For The Underground (MFTU) Review
The music industry is going through some drastic changes nowadays. The way music used to broadcast a decade ago has changed. Though every user can access any song and any sort of music he or she wants, the music producers, directors, and artists are facing issues because people have started downloading and using pirated music from the internet. There are countries where royalty payment methods through the government regulations is enforced but still the musicians and professional artists are not receiving the money they deserve for the use of their content.
In order to address this problem faced by the music industry, MFTU has developed an open-source online royalty payment system. It will be available across the globe via a distributed ledger system. It is a dual token ecosystem in which two different tokens CYFM and MFTU are used for different needs.
The CYFM and MFTU tokens:
The CYFM token is developed for the artists which actively working with local representation. It is a regulatory compliant cryptographic form of the currency which will be used by the artists. The MFTU token on the other hand is comparable with CYFM, but it is designed to be the world’s leading truly digital, legal, fair, and cryptographic Performance Rights Organizations for Independent Artists. This crypto token will be used to prevent the loss faced by the artists. Numerous musicians face a huge loss because people access their content online without paying any penny to the content producers and artists. MFTU token will work to prevent such occurrences.
The CYFM and MFTU tokens are ERC20 compatible. These tokens are mainly designed to form a universal payment system which will allow royalties to be collected every time a user accesses and uses the music content created by the musicians. The MFTU platform will also allow the participants to use their tokens for buying the online radio membership, registration, and buying goods marketed within the app.
Project details:
MFTU is certainly offering a great decentralized method to prevent the loss due to unauthorized use of music across the globe. However, it still does not have a roadmap regarding the progress of the project. It will be available very soon and they have revealed some important details to endorse their vision and progress.
According to the business plan, the CyberFM company has spent a decade in the industry and they know all the flaws affect the industry. They have always got the investors to fund their ideas and their active projects have constantly generated revenue over the past ten years. When it comes to popularity, CyberFM is famous for all the entertainment it offers online. Its app is also quite popular among the music lovers and therefore it can draw a huge number of fans towards its decentralized platform.
Conclusion
Though the whitepaper does not depict enough to endorse the vision, goal, progress, etc. the concept chosen by MFTU is unique. It will benefit all the artists and professionals from the music industry who have faced a huge loss due to royalty issues.