BitShares Music + PeerTracks (Pre-sale launch)

[kingcob]

Alright everyone. It’s official!

The BitShares Music Foundation launched it’s pre-sale from the Inside Bitcoin conference in Las Vegas.

www.bitsharesmusicfoundation.org and www.peertracks.com

Non-technical paper here: http://bitshares.org/papers/music/btsmusic-peertracks-non-technical-paper.pdf

Let’s start with a TL;DR shall we?!

The BitShares Music blockchain is a Decentralized Autonomous Company (DAC) that runs off of Delegated Proof Of Stake (DPOS) Each unit of this DAC is called a NOTE.

PeerTracks is the first front end website/app that will plug into and read the blockchain.
This site will allow artist to:
create their profile
upload their music
set their own prices
And if they want,
issue out their own Artistcoins

Artistcoins are user issued assets
The artist can sell (or give) them to his fans in order to fund his career. The artistcoin is tied to that artists sales (ON blockchain sales only). Meaning “Snoopcoin” can go up in value when he sells a lot of songs, albums, merch, tickets from PeerTracks (or any other future front end site that decides to plug into the BitShares Music blockchain) etc. The artist can also bring value to his coins by offering different perks or benefits to his coinholders whether it’s through hardcoded token controlled access or from him just tweeting to his fans “Anyone with 200+ Snoopcoins get in the show for free, anyone with over 500 can hang out backstage after the show”

From a user’s perspective
Creates an account
Stream or purchase music you like using BitUSD, a non-volatile crypto-currency (BitAsset). Know your funds are going directly from your wallet to the artist’s wallet. No middle man. PeerTracks does not hold any funds, it’s all done directly on blockchain. Find artists you think have potential and buy their coin
See that coin's value rise or fall depending on:
-sales generated by that artist on the site
-perks offered to that artist’s coinholders

Notice that the user's of this DAC do not have to know what a blockchain is, nor do they EVER see a private or public key.


Now if you do not care for music but you see value in a decentralized music industry and would like to be a part of it, you can get yourself some Notes.
Notes are the unit of this blockchain.
This blockchain makes revenue from fees.
-transaction fees
-the fee when someone registers their username
-the fee when an artist initially creates his artistcoins

Those fee are destroyed (proof of burn) essentially returning that stake to each Note holder.
So if you own 1% of all Notes, after a year of burned fees, you might now own 1.1% of the network’s worth.

Keep in mind that Notes are also votes. You can vote for or against whichever delegate you desire. Contrast this with Bitcoin (try booting a mining pool out of power!)

Notes are also the collateral for the BitUSDs used to purchase music, merch and whatever else the artist will decide to sell from the sites plugged into the Music blockchain. The more BitUSD are in existence, the more collateral is needed (demand for Notes = price rise)

For more information, check out:
www.bitsharesmusicfoundation.org
and
www.peertracks.com

You can also check out the non-technical paper here: http://bitshares.org/papers/music/btsmusic-peertracks-non-technical-paper.pdf

Please feel free to ask any questions!

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[Robif]

These are great news, congratulations!

I was waiting a long time for something like this. Also have few friends that are music producers that are also interested in distributed service for music publication and sharing.

Great work and keep it up 

[biophil]

So what you're trying to say is that you're using DPOS and blockchains to build a decentralized music distribution/crowdfunding service? Sounds like it has a real chance of being the next big crypto killer-app! Bravo!

[tmpxeroc]

wow ... agsexplorer.com shows 160 BTC already donated .. in three days .. quite nice! ... go for it!

[tonyk]

I am exited to see this project up and hopefully running soon!

Good Job *kingcob*

[Xeldal]

Kingcob, you guys are doing an amazing job.

I first heard you guys from your interview on the Bitcoins and Gravy show.  Its is very exciting seeing this all come together.

Looks like your off to a great start.

[thevampireskilledit]

Sooooo basically this is going to compete with the entire record industry and itunes?

 

I guess it's time for some due diligence.

[GailSan]

How and where do I buy this coin?

[tmpxeroc]

How and where do I buy this coin?

It's not a coin .. it's a DAC .. and you can get shares in it via the pre-sale!
or buy them once they are traded!

[biophil]

How and where do I buy this coin?

Click the bitsharesmusicfoundation link in the OP: www.bitsharesmusicfoundation.org

[Indemnified]

Sooooo basically this is going to compete with the entire record industry and itunes?

 

I guess it's time for some due diligence.

Come up with anything?

[FandangledGizmo]

Sooooo basically this is going to compete with the entire record industry and itunes?

 

I guess it's time for some due diligence.

Come up with anything?

As far as I know it undercuts iTunes a lot but I looked into it a while ago.
Also allowing artists to issue coins that allow their fans to not just enjoy sharing their favourite music but profit from it too plus other benefits that can be passed onto coin holders is mind blowing.

I've seen this one being worked on in the BitShares forums for a while and I think the main guy is very well connected with a lot of music industry experience, so I know a lot of work has already gone into this. Excited about this one!

[Pheonike]

Its confusing because there are two seperate things being built simultaneous lee. The Bitshares music Dac is the for handling the Artiscoin. It's functions as a sort stock exchange for the coin(notes). PerrTracks is jsut the fstore for buying songs,merchandise (maybe tickets) and artist discovery. A person can come to PeerTracks, buy something a never touch notes part. If they however want to invest more in the artist or access more exclusiv things then the can invest the artistcoin. 

[justahack]

Sooooo basically this is going to compete with the entire record industry and itunes?

Think of a decentralized iTunes, plus Kickstarter and maybe Pandora. Oh, and you can spend your crypto to buy songs. Artists get to keep much more of the money AND they can issue their own 'shares'. The potential for this DAC is enormous. Looking forward to PeerTracks. By the way, "kingcob" (aka "cob" in the BitShares forum) is a longtime forum member and trusted developer from the BitShares team. And Eddie Corral, the industry partner behind PeerTracks/BitShares Music, has deep experience working with the major record labels and signing acts like Destiny's Child. Just in case you wondered if this team has the juice to pull off its project, here's Eddie's bio from another site:

Eddie Corral brings twenty five plus years in the business of music – his vast knowledge and experience of the industry stretches from record producer to music publisher, concert promotions to radio broadcast. Corral was a regional A&R rep for Universal/Republic, Atlantic, Arista and Epic Records, during that time he successfully had five major label signings with a total sales volume of eleven million records sold. Corral is a current fifteen year voting member of the National Academy of Recording Arts and Science (NARAS). Corral started at an early age working for touring production group Houston based Pace Concerts which would later lead him to Clear Channel Radio and eventually Radio One where he was hired for special project events for over forty radio stations across the country – Corral booked and promoted radio concerts and also produced several compilation records that were sold throughout the network. His passion today is finding and working with new talent.

[Tradingriver]

the projects looks promising and in the case you want to put some eggs in one extra basket - take a look.

some more information https://bitsharestalk.org/index.php?topic=9360.0


the pre-sales

- will last 60 days
- 5.000.000 Notes will auctioned every day

after 60 days 20% of the sharesupply will be sold

35% will be allocated to PTS holders (Snapshot was taken October 10th)
35% will be allocated to AGS
10% will be allocated to the bitshares music foundation

in the bitshares music chain the delegates can create new shares after voting. so the initial sharesupply could increase in the coming years.

[saddambitcoin]

Best idea i've seen yet involving music. Following this.

[jasemoney]

if this has the bitshares name, does that mean there will be a PTS snapshot for it?

[troglodactyl]

if this has the bitshares name, does that mean there will be a PTS snapshot for it?

Yes, there was a PTS snapshot, details here: https://bitsharestalk.org/index.php?topic=9387.0

If you're a PTS holder, you should already have some stake in this system.

[profitofthegods]

Looks great, but I don't like the pre-sale format where you are supposed to send coins without knowing what you'll get and may end up with a totally different amount to someone paying the same price the day before or afterwards. Its like a cross between a presale and a lottery -- and I'm not a gambler.

[testz]

Looks great, but I don't like the pre-sale format where you are supposed to send coins without knowing what you'll get and may end up with a totally different amount to someone paying the same price the day before or afterwards. Its like a cross between a presale and a lottery -- and I'm not a gambler.

This format allow to distribute exact amount of shares without price fixing, if you don't like a lottery you can donate same amount every day during whole period and at the end you will have shares by average price.