The traditional music world is plagued with issues that annoy every participant in the industry. Creators are not paid their rightful wages or royalties, while the distributors have to worry about people illegally gaining access to the music without paying. As for the fans, they have to worry about their favorite creators refusing to produce more content because of the issues in the music world.
This is why the coming of Mozik is a breath of fresh air for fans, creators, clients, and distributors. Mozik uses blockchain technology and a decentralized, NFT asset-distribution platform to allow for the trading of music copyright revenue, celebrity IP and traffic, and IP derivatives assets on the chain.
Mozik is improving the creation, distribution, and consumption process in the music world while cutting down on costs incurred.
What Mozik is Injecting into the System
• An Information Sharing Database
MOZIK is a blockchain-based database ecosystem that allows information to be shared amongst dApps and organizations. Apart from the aforementioned, it created a mechanism to ensure that creators are paid for their work. To make this possible, it incorporates the smart contract technology that possesses royalty stipulations, which can not be altered. It removes the need for a third party, thereby reducing the possibility of errors.
• Smart Contract Technology
Regularly, news of a creator fighting their distributors storms the internet. Sometimes, these creators may not read the fine print the distributors introduced in their terms of contracts. In other cases, the distributors may negate their agreement. Some creators are desperate to put their music out there to the extent that they do not bother glancing at the agreement, or do not even sign an agreement. The cost of getting an entertainment attorney to represent them is massive. MOZIK has a smart contract technology that removes the need to spend a lot on expensive agents and attorneys.
- NFT Distribution Mechanism
Streaming platforms do not care about artists, and that can be seen in the meagre royalty payments they offer them. An average musician is paid $200 annually- 365 days. Ludicrous, right? MOZIK NFT Marketplace is altering this injustice by creating a platform that is focused on musicians and fans. Are the streaming services embarrassed that they have to dole out such a tiny pay annually? It is highly doubtful. They do not care what people think about how little they pay artists.
MOZIK will offer equitable compensation for the independent artists that churn out music. Usually, superstars do not have to worry about these issues because they have a team of astute lawyers backing them, a large record label to protect their interests, and a league of loyal fans to purchase their music through any means the artist dictates. On the other hand, independent artists do not have this luxury, hence, they have to suffer in silence, but those days are gone with the coming of MOZIK. MOZIK is giving them the option to break the barriers that have been erected between them and their fans and interact directly with the fans.
About Mozik
Mozik is a decentralized music NFT platform aiming to build a healthier and fairer music ecosystem. Through the decentralized NFT platform, Mozik adopts blockchain technology to register earnings through music copyright, super-star IP, and IP derivatives on-chain. All the participants in the music ecosystem, including creators, publishers, customers, and fans can fairly participate. Through Mozik’s platform, artists will be incentivized to create more and better quality music. With lowered publishing cost and higher engagement from music fans, all participants can share in the rewards, and create a healthier and fairer music ecosystem.
