What is Moosty?
Moosty is aiming to be a decentralized organisation for musicians. They envision an easy registration of ownership rights for every musician – a decentralized storage. An easy way to get insight into these rights – transparency. Every participant in the ecosystem gets his fair share – fair distribution. They envision ease of transactions, almost instant payment provision – ease of payment. Moosty wants to put the musician in the centre of the industry again. Moosty will provide the possibility for every musician to create his or her own business model, provide templates of different models and provide data insights. Give them the autonomy to easily raise funds. They envision one place to take care of all of your music business. Where every participant has the incentive to add value to the network. Where the founders of the network do not keep accumulating value unless they provide value themselves. A marketplace that in the long term is organised democratically and decentralized.
Moosty wants to support the following features for the following users through their platform:
Register your music, manage and pay out royalties, execute crowdfund actions.
Listen to music legally, donate or invest in musicians and their songs. And share in the profits of your favourite musicians.
Create or connect a streaming service on the Moosty blockchain and profit from existing contracts and payment services.
Move your artist on the Moosty blockchain to automate processes and agreements between the label and the artist.
The problem to be solved
Since the advent of the internet the music industry has been in a constant battle how to keep up with the revenues of especially content distribution and the royalties involved. Piracy and streaming solutions have driven down revenues and margins and still there is no ultimate business model that rules them all – soundcloud is in demise, spotify does not pay enough royalties, and others do not pay royalties at all, the industry is being governed like an oligopoly with a few very powerful actors, and, in addition, the current way of doing business requires too much time to get paid without any transparency. Even Spotify and Youtube have difficulty in finding the owners of certain music rights and therefore hundreds of millions of dollars are not sent to their rightful owners, or end up in certain ‘black boxes’.
Moosty believes that developers and musicians – who sometimes are one and the same – could work more closely together to create more services that can aid musicians along the way. There is a need to tackle some of the core infrastructure for the music industry to keep it fair and creative for those thousands of artists to come.
Interested about the project? You can read all about Moosty on their website: moosecoin.io