Author: Vu Tuan Anh
Reviewer: Nam Akihiko
When compared with other fields of entertainment such as gaming, videos, and movies — which already make up the world’s top three markets — it is clear that China’s music digital music market is still going through its own period of explosion.
However, there are many pain points in the online digital music industry such as the benefits of online music creators are not guaranteed or even difficulties and problems in protecting copyrights.
In this article, we will analyze Mozik – a blockchain-based digital entertainment ecosystem for online music with the aim to become the world’s largest music asset NFT distribution platform.
Fundamentals of Mozik
What is Mozik
Mozik is a platform that provides basic facilities and services such as asset protection, distribution, trading, and traffic sharing.
It is an active and influential blockchain project for online music creation and digital copyright-related IP derivatives trading has been established between online music creators and consumers via online music distribution agreements and copyright transaction pricing agreements.
In this blockchain-based community, creators use efficient digital creation software and hardware tools to put the created online music assets on the chain through decentralized confirmation methods.
Besides, traders or investors can discover outstanding works in the community and break the traffic monopoly of centralized platforms, thereby realizing an efficient, fast, and low-cost creation, storage, trading, and IP derivative development system of various forms of online music and on a global scale.
Current problems in centralized music platforms
The online music industry has great potential to grow in the future. However, there are many pain points in the online digital music industry as it currently stands.
- Online music works are highly reproducible and it is difficult to protect rights for music creators, so piracy is rampant. As a result, the interests of creators are harmed and their enthusiasm is severely damaged.
- The lack of a unified and standardized online music trading platform makes standardized copyright transactions difficult, and copyright transactions are not standardized.
- There are still many problems with inconsistencies in copyright law during cross-border transactions. The cost of payments is high, while the cost of trust is also high.
Solutions of Mozik
Mozik’s core solution is to use blockchain technology to reduce the cost of trust and propose an end-to-end benefit-sharing mechanism to create an ecosystem that facilitates the sharing and co-constructing of content and benefits for creators, platforms, consumers, and investors.
Mozik’s focus is on solving common problems in online music creation, discovery, trading, and fan operations, including blockchain solutions, smart contract collections for copyright transactions, digital content storage, fan economy, and other issues.
Compared with traditional music websites, the content innovation community at Mozik boasts the following innovations.
- A mechanism for content mining: Through the establishment of a token economic model, content mining algorithms can be relatively fair and reasonable, thereby encouraging community participants to create and discover outstanding works, breaking the monopoly of centralized platform traffic, and promoting the sound development of the ecosystem.
- Decentralized online music on-chain conformation standards: They have developed high-quality online music registration tools that allow them to use technical protocols to achieve decentralized verification of rights on the chain and reduce on-chain costs.
- The first intelligent engine for copyright transactions: Both copyright confirmation and transactions can be resolved through blockchain smart contracts to resolve differences in copyright laws and payment tools in different countries, thus reducing copyright transaction disputes, minimizing transaction costs, and improving transaction efficiency.
- A two-level copyright transaction mechanism: They support peer-to-peer over-the-counter copyright transactions and the trading of outstanding works on their digital asset exchange. By establishing an active trading community, they will facilitate smoother copyright transactions and allow the market to discover the value of digital works.
- A mechanism for maximizing the value of digital content based on IP monetization: This mechanism enables them to repay content mining algorithms, allowing content discovery and commercial monetization to form a virtuous circle, which maximizes benefits for all parties in the ecosystem while issuing assets securities.
Products and applications
- Music sharing platform
- Copyright authorization transaction system
- Derivatives trading platform
- NFT asset issuance system
- Copyright protection system
- Users and traffic
- Trading rankings
AUDIO is the native platform token of the Audius streaming protocol. AUDIO is staked for security, feature access and governance and earned by artists, fans, and node operators who drive Audius.
Viberate is a platform that joins the entire live music ecosystem under one roof. Currently it acts as IMDB for live music, where profiles of musicians are ranked according to their online popularity. It is built and curated by the Viberate user community.
AudioCoin builds on the Peercoin protocol to provide a new way to consume music. It breaks down the barriers of traditional e-commerce systems and provides a new way for music fans and artists to engage in viral marketing.
Tokenomics of Mozik
Token name: Mozik
The blockchain network: Updating
Total supply: 1 billion
Core team: 12% (locked on mainstream exchanges for 18 months)
Foundation: 20% (used for community and project operations)
Early investors: 18%
Ecosystem: 25% (used for the construction of the ecosystem, community project rewards, fan rewards and urban partners)
Content mining: 25% (used for content mining to encourage creators to contribute content and fans to contribute traffic)
- Li Jiechu (Co-founder & CEO):
- Former Chief Operating Officer of Rolling Stone Mobile
- Former Deputy General Manager of the New Media Center at Beijing News Media
- Cui Yu (Co-founder & CTO): Former Development Director at Rolling Stone Mobile
- Han Jinwu (Co-founder & COO): Apple Certified Technology Supervisor
- Zhang Miao (Copyright Content Officer): 2016-2018 National Top Ten Producers
- Faye Wong (Strategic Advisor): Renowned Singer-Songwriter.
- Li Jing (Strategic Advisor): Former Chairman & CEO of Rolling Stone Mobile.
- Wang Yuehua (Angel Investor): Partner of Deding Innovation Fund.
- Chen Xi (Strategic Partner): Former Agent of Zhang Liangying, Current Artist Director at Sony Music
- Ouyang Nana (Global Spokesperson): Famous Musician
- Lotus capital
- Magnus capital
- Blocksync ventures
- Fourth Quarter of 2020:
- Design of system architecture.
- Second Quarter of 2021:
- Release of wallet function.
- Construction of music sharing platform.
- Release of IP NFT asset management.
- Third and Fourth Quarter of 2021:
- Improvement of the underlying platform, including optimization of music asset management, distribution, and fan community functions.
- Improvement of IP asset governance.
- First Quarter of 2022:
- Release of Mozik governance function, which mainly includes basic platform and chain community transfer and co-governance.
- Enhancement of asset, content, and user community functions.