Overview

  • Country United Kingdom
  • CategoryArt & Music/ Digital Music Market

The future of music has to be about a massive shift of power away from corporations and back to artists and their fans.

Project stage

Working product

Detailed description

The music industry resembles an exclusive club that features only  1% of the world’s music. Bittunes is dedicated to the other 99%. Experience a digital music service where artists and fans discover, connect, and earn together.

Bittunes has been intended to be an ‘Independent Digital Music Market’, which means that we place special focus on the rights truly independent bands and songwriters which provide their music to bittunes, typically these Artists own the copyright of the music they seed into the network. However we do not exclude music by Artists that are represented by Companies that are part of the established music ecosystem. We are currently working to formulate ways where we can accommodate the complex rights structures that exist within the established music ecosystem into Bittunes without compromising our core values, and the best interests of Artists.

Problem

One of the biggest misconceptions about the music industry is that the current industry represents anything like the true state of music in the world. A recent investigation by The Economist stated that: "Today, three major Record labels own well over half of the Western World's Music”. This statement is clearly false, as it is referring only to the relatively small percentage of music owned by Record Labels. 

There is an enormous amount of music from all over the world that has no unified global platform. Current rights systems actually exclude some the biggest markets in the world, i.e. China, India, etc, while almost all new Blockchain/Music ventures rather than dealing with this broad problem, are catering directly to the main stream music industry and/or rights collection agencies in various ways. 

A recent article in Hyperbot “Why You Can’t Put The Music Industry On A Blockchain”, illustrates the problem very well, and is in accord with Bittunes strategy to completely avoid the Music Industry, i.e. to fix music’s problems a clean slate approach is needed.

Solution

Bittunes has taken an inherently different approach, offering a new economic model for trading music outside the existing structures of the Music Industry. Since coming out of Beta in May 2015, Bittunes has bound together Artists and Fans from more than 100 countries into one integrated marketplace using the Bitcoin ‘microearnigs’ system, where buyers go on earning after their music purchases, in partnership with the Artists they follow.

The legal foundation of the system lies in a clear understanding that the Artist is the Primary Publisher, and as such can authorise any new global distribution method, underpinned by the ‘Creative Commons Plus’ rights protocol. This system effectively allows Artists to selfpublish globally, independent from outdated music industry and legacy financial systems, and also allows consumers to easily find a diverse range of independent music, and to earn Bitcoin by co-distributing this music.

Features

Earning, in %’s of Bitcoin by co-distributing independent music

The platform will allow ‘music makers’ to automatically receive royalties in Bitcoin or other digital currency, whenever and wherever a music sale takes place, (and because this is a potentially global P2P network, that is significant). Royalties will also be shared with ‘music movers’ in proportion to the percentage of digital data they contributed to the upload to the new purchaser of the music track. Technically, as soon as the new buyer of the music track has purchased the song, they themselves become a music mover for that song, and will start generating revenue from that song, whenever they contribute to another upload of that song to a new buyer.

Payments will be denominated in $US, but earnings and system in BTC

Note, this means that music fans can effectively become the new distribution channel for independent music, and instead of a music purchase being a ‘sunk-cost’, it in fact becomes an immediate investment, and the more music you buy, (if that music is in demand) the more money you will make. We will also provide you with some very cool ways to know which music is in demand, so that your music purchases will earn you the highest returns.

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Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : FLX
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : NA
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :NA
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. : NA
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :NA
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :NA
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :NA
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :No
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :No
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA

Sale schedule

Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
Flex Token sale — Ended
Start Soon
NA No - Uncapped Uncapped
Public Pre-sale — Ended
27 Feb 00:00 UTC
28 Feb 00:00 UTC
NA No - Uncapped Uncapped
Private Pre-sale — Ended
01 Sep 00:00 UTC
30 Nov 00:00 UTC
NA 50% - Uncapped Uncapped
  • Team

    • Simon Edhouse photo
      Simon Edhouse
      Managing Director
    • Peter Kelly photo
      Peter Kelly
      CTO
    • Nenad Radovanovic photo
      Nenad Radovanovic
      Blockchain Developer
    • Ozzi Jarvinen photo
      Ozzi Jarvinen
      COO, Incubator
    • Ruben Brito photo
      Ruben Brito
      Community & Media
    • Chris Dimopolous photo
      Chris Dimopolous
      Ninja, Audio Streaming
    • Quinn Lo photo
      Quinn Lo
      Accounts & Financials
    • Noric Dilanchian photo
      Noric Dilanchian
      Legal Counsel
    • Jon Matonis photo
      Jon Matonis
      Board Member
  • Advisors

    • Wayne Rosso
      Advisor

Roadmap

  • Private Pre-sale

    A private pre-sale for Bittunes members with special deals to reward their loyalty and support

  • Public Pre-sale

    Announce public pre-sale of the Flex token 

  • Flex Token Sale

    Announce Flex ICO, coordinate a broad campaign with the support of many Bittunes artists

  • Development

    Develop the full Bittunes 2.0 front and back end

  • Beta for Artists

    Early access to the Bittunes 2.0 beta release for artists and qualifying Indie Labels 

  • Release Bittunes 2.0

    Full release Bittunes 2.0 platform to consumers, including Bittunes channels and social songs modules.

Activity