Individual Content and Skill Token (ICST) allows creators to publish, promote and store their content on its blockchain platform.

Earlier this month ICST launched a talent competition in partnership with StarMaker and its affiliates The Voice and American Idol.

Every participant receives ICST tokens and the winner will receive one-hundred thousand ICST tokens.

The partnership with the Starmaker App and its affiliate TV juggernaut, American Idol, is the world’s first blockchain talent competition – ICST Idol.

Here is the more information: https://www.youtube.com/watch?v=u1MZReOD7oc
 

Since the launch of Napster’s music-sharing platform, the music industry has been in near-constant turmoil, it’s timeline marked with dipping revenues, lack of transparency, privacy problems and feuds over the fair distribution of dividends.

With so many conflicts of interest, there seems to be no one service or business model that can work in a fashion that satisfies the needs of all the parties involved. But now, after years of suffering from a thorny and complicated relationship with the the sector, the music industry might finally find a chance to head in a positive direction by leveraging blockchain.

What is ICST?

ICST ICO project has drawn the attention of investors and professionals in different industries, and is now showing promising signs to change the music industry, disrupt Youtube, and might even fulfill the needs of everyone.
At its core, The ICST platform plans to incorporate a fully transparent rating system for artists and users to track the most popular content, as well as comprehensive analytics to give artists a complete picture of how their work is being received.

In addition, artists will be paid directly for the work they produce without having to pay a middleman for hosting and distribution. Monetization methods, creating licensing, and sponsorship decisions will rest in the hands of the artists themselves, liberating them from the restrictions of corporate control.
Utilizing the Ethereum blockchain network, ICST will offer an unparalleled level of transparency, efficiency, and security for the entertainment industry.

At its core, the blockchain is distributed ledger that can validate and register transactions without the need for a central authority. In a nutshell, it means parties can make peer-to-peer exchanges of data, money or anything else of value in any amount and in a timely manner.

In the music industry, the blockchain and ICST’s ICO could transform publishing, monetization and the relationships of artists with their communities of fans. Another advantage ICST poses is establishing a more direct relationship between creators and consumers.

Artists will no longer be required to go through purchasing platforms and financial brokers — who usually take a hefty cut of the revenue — and can get directly compensated every time their songs are played. This can be a big deal to all those amateur producers who don’t have the backing of huge record labels.

Startups and Musicians Embrace Technology

Companies like Benji Rogers’ online music platform PledgeMusic have published a comprehensive blueprint for the Fair Trade Music Database, a globally decentralized blockchain-based ledger that can solve the problems of ownership, payments and transparency.

Creators can upload their music and the associated metadata on the ledger. Companies and consumers, can search and play the music of their choice off the ledger, and smart contracts will ensure that the owner(s) of the content will be paid automatically for its usage.

PeerTracks is another music startup that is getting ready to launch its platform and is betting big on blockchain. PeerTracks also introduces the concept of “artist tokens” a limited and tradable cryptocurrency that artists hand out to their fans and which finds its value from the popularity of its creator. Higher demands for coins created by a specific artist will increase its worth.

Last year, award-winning musician and songwriter Imogen Heap started working on a new music ecosystem, which she calls Mycelia. Based on Blockchain technology, the platform will enable direct payments for artists and give them more control over how their songs and associated data circulate among fans and other musicians.
She describes the efforts as “trying to take away the power from top down and give power, or at least a steering, to the artist to help shape their own future.”

Join us at t.me/icst_official

Its really good to be a visionary and we also agreed with this statement but it may take bit extra time. But yes, in some countries, it is possible and we will try our level best to be active in those countries 

We have partnered with Starmaker, American Idol & the Voice to create a mutual partnership between blockchain technology and the entertainment industry.

I think you'll be happy to know that we have since revised our whitepapers and it will be available for viewing on our website by the end of the week.

To incentivize earnings we appeal to advertisers with our community base. Our revenue model allows for content creators to earn, as well as producers and users as community members earn revenue when reading commmenting and participating in the ecosystem.