EnaCoins- Converting the musicians on cryptomusicians 🇬🇧

BlockChain in Music

Ena Marley, Steven Enamakel
[email protected]
[email protected]

Abstract: A way of use blockchain in Music that allows the independent artist to be supported and interactive with their audience. The Artist creates personal coins and wallets that allows the audience to invest on them, being part of the creative process of the same as well as their success and loyalties.

Independent artist has been absorbed by the new ways of selling and distribute music in our societies. Even if the general understanding was to use the world of technology in favor of different ways of expressing, the reality is showing that the new upcoming world has set up old centralized ways and shapes in the new world. This is giving the same problems to an independent artist and the same negative consequence for their artistic life development.

With this system, we are trying to give a solution to this matter, considering the artist as lieder of certain artistic current because of their lyrics or master or certain gender or style of music.

Once the audience accept or recognize an artist as their represented, they support them with the intention of make it bigger, being part of their own success.

This gives a transparent solution, with the intention of don’t lose new ways of expression and art, and to create a collective intelligence for create bigger and durable projects.

With this system too, the artist will be supported during his career, trying to avoid loose ways of art because of the economical pressure of the circumstances linked with the artist itself.

Like this, we continue the natural evolution of the world of art, listening to the new upcoming ways and integrated them to make a better world for musicians and artists. (Internet, social intelligence, Blockchain, multi-morality and technology)

How does it work?
The token is a cryptocurrency that represents a share in the artist. A token has value because of the following:
Token holders earn royalties whenever the artist makes money.
Token holders can also vote on different ideas for a song. Giving direction to the artist.
The token can either be bought by directly investing into the artist using Bitcoin/EthereumBy buying the token directly by investing in the artist with Bitcoin/Ether.
Or tokens can be earned by talking about the project on social media. Based on how many retweets, likes, shares, a post gets etc.. tokens are gifted to the post creator.

How is the money divided?
The market value of the token. Promoters will hold ~15% of all the tokens with the remaining given to the public investors to raise money. If (for e.g.) a token’s value goes from 0.10$ to 1$, then we make a 10x return. Just like how a normal person makes money by investing in a public company.
The money raised by giving away the token. Initially the promoters will hold 100% of all the tokens. They’ll sell 85% of all tokens in exchange for a cryptocurrency like Bitcoin/Ethereum. Just like how a normal company raises money by doing an IPO.
Other revenues sources once the artist grows. YouTube, Spotify, concerts, events etc etc.

Leave a Comment