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Author Topic: PurpleCoin ICO  (Read 81 times)
PurpleCoin#1
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March 03, 2018, 09:49:40 PM
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PurpleThrone is a Music and Techology company that offers a set of services (audio/video productions, events promoting, and royalties management) to a community of independent artists and to a GLOBAL music fanbase, through the means of PurpleCoin (PPC), a crypto-token that enables fans to buy music, concert tickets and other products directly from artists and venues, organize and fund their own events, and support their favorite artists spontaneously with deliberate contributions. Fans will also be able to buy audio accessories (wireless mini-speakers and earbuds) as a physical product and pay in PPC for a discount. Whereas artists collect PPC and can use it to book studio time and venues, sell concert tickets and their own Perks.

PurpleCoin is an ERC 20 token that lives on the Ethereum blockchain. It serves as the financial infrastructure of the "PT ecosystem" and allows P2P micro-transactions giving the listener a way to show appreciation by contributing a fraction of value to the artist instantly and across borders, for a franction of the cost. The internet provides global exposure to millions of avid music fans eager for more music from outside the mainstream spectrum where they pay at will and based on appreciation. Industry professionals such as local venues, promoters and producers will be able to offer their services to local artists/bands and accept PPC as a payment method.

PPC provides an immutable transaction history that PurpleThrone will use to implement  an automated system for royalty payouts based on the amount of contributions received and the number of streams. The history of royalty payouts is a proof of the legal use of licensed content by "external parties for different purposes." (film makers, venues, etc).
The proof of licensed use of music protects the rights of independent artists along with the value of music in a transparent and immutable database.
Once proven and widely adopted by the community, PPC will become a native token and will live on its own blockchain where music rights are protected and stored. The idea is to hash a set of metadata from the song file (m1), with a value paid from the "license buyer" (m2) based on VMAC algorithm - Message Authentication Code using Universal Hashing - introduced by Wei Dei and Ted Krovetz in 2007.

We hope you enjoy our product and its direction,
The PurpleThrone Team
www.purplethrone.com
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