Posted on 12/17/2017 3:33:47 AM PST by Logicbox
Potentiam is a decentralized & incentivized music platform that aims to bring music creatives into direct contact with their target market. Through the Potentiam platform, creatives can fund and promote themselves without the need to rely on middlemen. Through Potentiam tokens (PTM), there becomes an economic incentive for new users to stay and use the platform. This translates into a much stronger community that artists can then leverage in-order to promote and fund themselves.
Creators can also crowdfund on the Potentiam platform through what are known as “Decryption tokens”. These tokens are exchanged for raising project funds which are then required to access the content of a creative. This has the advantage of providing an alternative way for music artists to fund themselves, therefore giving artists the autonomy that they so desperately desire.
(Excerpt) Read more at mycryptopedia.com ...
Like with the dotcoms, Ethereum products seem to be the future and perfect Turing machine, but a lot of garbage will fall by the way side. Which one will be the next Amazon?
I agree. If blockchain technology can be harnessed to encapsulate music, meaning it plays with your “public” password protected player, and to copy it illegally, your password can be traced and you become legally liable. It could end piracy.
People could record it digitally a second time and send out a bootleg, probably a lot more work.
Just guessing.
I know Ethereum can encapsulate software in its crypto currency.
Books could also use the technology.
Interesting.
This is a clever use of blockchain technology.
But as a vortex, they can only succeed with a critical mass of musicians and consumers.
I haven’t found where they explain how they will achieve that critical mass. It seems like a huge marketing problem (how will they become more popular than Apple, Spotify, etc?).
They need to make it cool to pay for music, like Michael Jordan made it cool to pay $300 for special sneakers or Dr. Dre made it cool to pay $300 for inferior headphones. They could make a deal with Twitter and Facebook where patrons get a fancy "I Pay for My Music" or "I Heart Musicians" sticker next to their profile picture.
They need to make it cool to pay for music, like Michael Jordan made it cool to pay $300 for special sneakers or Dr. Dre made it cool to pay $300 for inferior headphones. They could make a deal with Twitter and Facebook where patrons get a fancy "I Pay for My Music" or "I Heart Musicians" sticker next to their profile picture.
That will be the highest risk in this venture. The technology should work (however, the technical team seems a tad light on experience).
A cool idea, but I give it long odds.
Does being hexadecimal count as “non-binary”? :=)
Great idea. People could put their songsbought on line up for sell again like an old record.
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