The Moosty Ecosystem; fundamental applications
The Moosty Blockchain Platform
Last blog we talked about the necessary change in infrastructure within the music industry and provided a solution via the Blockchain. We introduced the Moosty Blockchain Platform, with its own cryptocurrency moosecoin, together with the three fundamental applications; the Moosty Registration Portal, the Moosty Marketplace, and the Moosty Streaming Network. This blog we will answer the questions: why should you join the ecosystem and what are your benefits? And how are we facilitating it? We will elaborate on the three fundamental applications:
- Moosty Registration Portal (incorporating the account & the wallet)
- Moosty Marketplace
- Moosty Streaming Network
The Moosty Registration Portal
If you are familiar with Blockchain technology it might be fairly straightforward what you need; you simply need a wallet where you can store your cryptos. You can buy the cryptos on an online cryptomarket or directly on the website.
With moosecoin we would like to change the way you experience this ‘wallet’. We want to make things simpler and since we are introducing a whole new ecosystem it might otherwise be difficult to understand these first phases. This means we will not introduce a multitude of different apps that provide one functionality but we will aggregate functionality at certain places to make it easier to understand; hence the Moosty Registration Portal.
Since we are aiming to create a new user experience favourable for both musicians as well as developers we would like to put the wallet within a new ‘jacket’. Instead of only providing a medium to exchange moosecoins we will provide an application which let you manage the registration of your musician credentials, your songs, your contracts as well as your moosecoin. Different entities can register within the Moosty Registration Portal. Every entity has his own possibilities and restrictions regarding the storage of brands, songs, contracts etc.
The Moosty Marketplace
This will be the place where all the deals are closed. As a musician you can trade part of the ownership of songs, ask for investments, receive donations, or create 360 degree deals. Investors, record labels, publishers, or music lovers can all directly invest in the commodities you are willing to trade. In return for a part of the ownership or for a one time deal a musician will be able to gain the amount of money needed to pay for a new record, a tour, or to be able to sustain his musician lifestyle. All the other entities can invest in musicians and their commodities or provide a service which can be traded the same way.
In addition to the musicians’ part of the marketplace there will be a software aspect; developers might create new services and tools that favor the Moosty Ecosystem. These developers can either sell their services on the marketplace, or be asked to develop certain services in exchange for moosecoins.
The Moosty Streaming Network
This part of the ecosystem will provide the possibilities to integrate the Moosty Blockchain Platform within third party applications. Meantime it is a different service to host your music. On the Moosty Blockchain Platform one can register a song. With this registration you do not upload the musicfile, it is only a registration of ownership. To facilitate the distribution of your music the Moosty Streaming Network will be developed. This will create the possibility to upload your music into one of the connected streaming networks. Third parties can connect with the Moosty Blockchain Platform. With this connection musicians from the platform can upload their music to the third party. In addition the third party is able to connect with the contracts on the blockchain platform. This way third party streaming services will always have live insight in the current contracts of the musicians and their related songs, albums, etc. They will have live insights in royalty distribution and they do not have to struggle to find the right owners anymore.
The Moosty Blockchain Platform will provide one streaming service of itself; The Moosty Streaming Service. This will be a non-profit organisation to promote upcoming artists. It will be funded through the ecosystem itself and we will elaborate on it later.
Thus, the Moosty Blockchain Platform will provide three fundamental applications to create a fundament for ‘musicians on a blockchain.’ These three fundamental applications are the Moosty Registration Portal (incorporating the account & the wallet), the Moosty Marketplace, and the Moosty Streaming Network.
You can find elaborations of these aspects within our whitepaper, our next blogs or you can get in touch through Slack, Reddit, or by sending an email.
Our next blog will elaborate on the governance aspects of the Moosty Blockchain Platform and the initial coin offering (ICO) that will start this sunday (July 30th 2017).
The Moosty Team
These blogs are meant to introduce to you the overall picture of the landscape, the origins of our thoughts, the reason why we would like to change the industry and give insight from multiple perspectives; music, business, technology & innovation. We are happy to answer all questions coming to mind, so don’t be shy asking them!