Maestro ICO Review
Music is going crypto, and today we are going to have a look at one of the new platforms being developed to help musicians make more money and reach new fans.
Maestro is a platform that will allow musicians to take home more of the money they get from streams and sales, by cutting out the middlemen. They will also be able to benefit from a crowdfunding feature so they can easily raise money for new projects. Listeners will be treated to a streaming service they can enjoy for less money than existing streaming platforms.
What is Maestro?
Maestro is creating a decentralized platform for musicians and their fans. The aim is to eliminate the intermediaries in the music industry, as they currently take 40% of all the revenue generated by artists. Maestro wants to put both the money and the control back in the hands of the artists, and give their listeners a better experiencer for less money. The platform is divided into two parts. Symphony is the music distribution part of the platform, and Ensemble is the crowd-funding part artists can use to raise money for their next project.
How does Maestro work?
Artists can join the platform and then use the peer-to-peer network to distribute their existing music directly to their fans. They can also appeal to their fans via Ensemble, in case they have an upcoming music project they need additional financing for. Music fans will be able to stream music from their favorite artists at a much lower cost than they would otherwise. In a sense, Maestro provides a complete platform for artists and listeners alike. It combines the power of platforms like Spotify (music streaming), Kickstarter (crowd-funding), and DistroKid (music distribution) into one place.
What is Symphony?
Symphony is the distribution arm of the Maestro platform, and it is where artists are able to use the peer-to-peer system to distribute their music to their fans. This puts the artist in complete control over their music release and distribution and effectively cuts out all the middlemen in the industry. Not will artists enjoy more freedom, but there will also be much lower costs associated with music distribution as there are fewer people who will need to be paid. This way, an artist can either make more money off of each record sold, or they can pass the savings on to their fans so they can enjoy music without having to pay as much as usual.
What is Ensemble?
Ensemble is the crowd-funding arm of the Maestro platform. With more and more musicians going independent, funds are needed to finance the creation of their music. Having the backing of a record label means that artists will not make as much money, as the label takes the lion’s share of the revenue generated from the records sold. However, the benefit of record label backing is of course that labels have money to invest in the artist. Ensemble is a tool devised for independent musicians without record label backing or financing. Here, they can appeal to the crowd for funding, very much like Kickstarter or GoFundMe.
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