The future of music has to be about a massive shift of power away from corporations and back to artists and their fans.
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.
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.
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.
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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Flex Token sale —
Public Pre-sale —
27 Feb 00:00 UTC
28 Feb 00:00 UTC
Private Pre-sale —
01 Sep 00:00 UTC
30 Nov 00:00 UTC
A private pre-sale for Bittunes members with special deals to reward their loyalty and support
Announce public pre-sale of the Flex token
Announce Flex ICO, coordinate a broad campaign with the support of many Bittunes artists
Develop the full Bittunes 2.0 front and back end
Early access to the Bittunes 2.0 beta release for artists and qualifying Indie Labels
Full release Bittunes 2.0 platform to consumers, including Bittunes channels and social songs modules.