Overview

  • Country Cayman Islands
  • CategoryArt & Music/ Music Streaming Service

Choon is a music streaming service and digital payments ecosystem.

Project stage

Beta version

Detailed description

Choon will be a commercial-grade music-streaming ecosystem designed for the public at large, not simply the cryptocurrency community. So, while blockchain technology will allow us to deploy a trustless, low cost decentralized marketplace for music and near-real-time royalty payments for the regular (non-blockchain-savvy) user, blockchain interactions will happen unnoticed and under the hood, while being fully accessible to those looking for them.

This means that Choon is positioned to be one of the first generation of projects to introduce blockchain technologies to the rest of the world, because it can be used by anyone.

  • Democratize by creating the music industry of the future, allowing for the removal of unnecessary middlemen or intermediates and by allowing direct-payment relationships between artists and listeners. 
  • Create transparency by clearly showing stream counts, profit splits, and wallet balances while being fair and open about how homepage and playlist content is determined. 
  • Simplify contracting and accounting by superseding old-fashioned paper or PDF contracts with Smart Record Contracts and other types of Smart Music Contracts. 
  • Empower listeners by moving from passive audiences toward a world of proactive contributors who can earn NOTES: the utility token that powers the Choon ecosystem.

Problem

While the recorded music industry is larger than it is often perceived to be, it is shockingly undemocratic, with a handful of monopolies holding all of the power. This leaves the value of this $16 billion industry centralized to the established elite. In turn, artists are treated terribly, and listeners are left uninspired. 

With little to no transparency, listeners pay to stream music, though they clearly know that most of their hard-earned money won’t make it to the hands of the artists,  while the artists know they aren’t being paid timely or fairly for their musical creations.

In addition to this, none of the current market-leading streaming services are proашtable because of the punitive historic deals being made with record labels.

Furthermore, the industry’s architecture for contracting and accounting remains decades out of date, and still relying on bureaucratic and inefficient systems developed in the days of sheet music and jukeboxes, which are completely unfit for a modern digital economy.

Solution

  • Removing middlemen and intermediaries to allow direct listener-to-artist relationships. 
  • Only working with artists who completely own their own material, to allow us to entirely avoid  legacy record labels and instructions. 
  • Utilizing the strength of the blockchain to handle all aspects where blockchains have proven to  be highly effective (transparency, security, trustless contracts, and financials).

Features

Share
80% of profits from streamed music or media sent directly to the content creators, retaining just 20% for operational costs. By removing almost all intermediaries, artists regain control of payment flows and can earn hundreds of times what they presently do.

Create
A digital music ecosystem with numerous options for both artists and listeners to earn and spend notes. Multiple spending options allow the majority of NOTES to remain in the ecosystem, removing cumbersome on/off ramps associated with cryptocurrency.

Simplify
Displace many of the music industry's unnecessary intermediaries by creating a future-focused music contracting and licensing system. Smart Record Contracts foster accountability and transparency whilst allowing immediate payment distribution to stakeholders.

Positive Impact
Promote the cryptocurrency economy in a positive way. Introduce cryptocurrency and frictionless token economies to a strata of the population that have yet to engage in the cryptocurrency economy.

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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. : NOTES
    • 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. :Ethereum (ERC20)
    • 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. :2,000,000,000 NOTES
    • 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. :500,000,000 NOTES
    • 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 Open
    • 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. :ETH,
    • 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. :China, South Korea, USA,
    • 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
      • Token Distribution

        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      Private sale — Active
      01 May 00:00 UTC
      NA No Min 100 ETH Uncapped Uncapped
      • Team

        • Gareth Emery photo
          Gareth Emery
        • John Watkinson photo
          John Watkinson
          Software Engineer and Computer Scientist
        • Matt Hall photo
          Matt Hall
          Software Engineer
        • Bjorn Niclas photo
          Bjorn Niclas
          Serial Entrepreneur
        • Scott Sartin photo
          Scott Sartin
          Accounting and Business Management
      • Advisors

        • Mark Gillespie
          CEO of the ThreeSixZero Group and Manager of Calvin Harris
        • Benedict Chan
          Head of Engineering at BitGo
        • David Hyman
          Online Music Entrepreneur
        • RAC
          Grammy Award–Winning Artist and Cryptocurrency Advocate
        • Min H. Kim
          Founder, Blocultural
        • Alvin Jiang
          VP of Product and Engineering, TenX
        • George Li
          Cofounder, WeTrust
        • Cindy Charles
          Entertainment Lawyer
        • Jeremy Seow
          Partner at ChainRock and Senior Product Manager at Zendesk
        • Tom Graham
          DJ and Cryptocurrency Advocate

      Roadmap

      • Nov 2017

        Initial announcement

        • Choon is announced to the public for the first time
      • Dec 2017

        Advisory board established

        • Benedict Chan (CTO, BitGo), RAC (2017 Grammy Winner), and David Hyman (former CEO of Beats Music, Gracenote and MOG) join the team.

        Proof of concept live on Ethereum Testnet

        • First generation Smart Record Contract for the Gareth Emery and Ashley Wallbridge track ‘Crypto’ goes live on the Ethereum Testnet
      • Jan 2018

        Pre-product token sale launched 

        • A small friends and family round is opened

        Press outreach starts 

        • Coverage received in BBC, Forbes, Billboard, Coindesk and over 100 more mainstream and cryptocurrency platforms.
      • Feb 2018

        Pre-product token sale completes 

        • 2000 ETH successfully raised in friends and family round.

        Product build begins 

        • Aim is to have first version of Beta platform in four months
      • Mar 2018

        Advisory board expands 

        • Mark Gillespie (Manager, Calvin Harris, CEO ThreeSixZero Group) and Marco Santori (leading blockchain attorney) join the team.
      • Apr 2018

        Contract audits successfully completed 

        • No changes at all are requested by auditors.

        Final white paper released 

        • This can be downloaded at choon.co/whitepaper.
      • May 2018

        Platform launches on Ethereum and choon.co 

        • Over 600 artists signed up at launch. Two weeks later that number had trebled
      • Jun 2018

        Launch of Monetized Playlists 

        • A signature Choon feature allowing playlist curators to earn a % of royalties originating from their playlist. With this feature we increase the audience of potential NOTES earners by 100x over artists alone.

        Redesigned home page 

        • New home-page with better curation, charts & playlists.

        Airdrop 

        • Limited community airdrop to foster engagement.
      • Token sale launched 

        • Main Choon token sale begins on July 2nd with a hard-cap of 500m NOTES (25% of supply).

        Mobile app development starts 

        • Dedicated mobile developers join the team
      • Aug 2018

        Token sale ends: NOTES tokens are unlocked 

        • Following the end of the NOTES token-sale, NOTES are made transferable.

        Staking proof-of-concept 

        • First version of staking will unlock various features for artists who maintain a certain balance of NOTES.
      • Sep 2018

        Platform design 2.0 goes live 

        • Significant upgrades to existing design across all Choon platforms.

        NOTES to crypto & gift voucher gateway 

        • API access to service allowing instant swaps from NOTES to other cryptocurrencies, along with some of the world’s most popular gift vouchers.

      Activity