03 Sep 202010:08
Mozik AMA Recap
Myko (CryptoDiffer)Hello, everyone!😁
We are glad to meet here:
Mario Lee, Co-founder & CEO of Mozik
Mario LeeHi everyone!
Myko (CryptoDiffer)Our team has prepared 3 questions for you to start with
Mario LeeIt's great to be here!
Thanks for having me.
so are you ready to start with the questions?
Mario LeeLet's go!
Myko (CryptoDiffer)We'll start with the introduction!
Q1: Can you introduce yourself to our community?
Mario LeeHi, I'm the CEO/Co-founder of Mozik.
I am a serial music entrepeneur in China for the last 15 years.
Previously, I co-created China's first mood-based music app "You Listen". It was acquired by Rock Records for $21 million USD.
I also worked as ex COO of Rock Records Mobile Digital Music and ex Deputy GM of the New Media Center at Beijing News Media.
I later partnered with some friends in the music industry in 2015 to start Mozik.
And we will be relaunching Mozik as a streaming and NFT marketplace this month!
Myko (CryptoDiffer)Than let's move on to the project!
Q2: Can you introduce Mozik to us. What is the problem that Mozik is trying to solve and what is unique about your approach?
Mozik is a decentralized music streaming platform that utilizes NFT blockchain technology, which will help artists with recognition and remuneration for their works.
Our platform will also help users to discover new artists and songs, and also allow fans to contribute to the artist's music production.
There are a number of problems in the current music industry.
First many artists get paid very little, there is no standardize way of copyrighting IPs for trading, lack of transparency in the revenues, delayed royalty payments to artists, etc. I can keep going...
With out platform, we aim to leverage blockchain and NFT technology so that everyone can share in the benefits of the music creation.
We will use smart contracts to manage music rights, create a decentralized rights management system, and help aritst get paid fairly for their work.
Myko (CryptoDiffer)nice to hear when projects solve real-peoples problem!
there are also some additional questions about the Mozik!
Mario LeeYes that's our goal.
Q3: Why a global online music platform on blockchain and why do you think it will be a runaway success?
Mario LeeWe believe our platform is an opportunity for famous and up-and-coming artists alike. They would be free to experiment and express themselves, without being dictated by record labels or streaming platforms.
Also they would have direct access to their fans - no more middlemen.
For example, artists can release their songs as NFTs. Their IP is automatically protected on the blockchain. When the NFT is sold to a fan, the transaction is tracked and profits are paid automatically to the artists' wallet. This kind of transparency and automated transactions currently do not exist in the music industry.
Myko (CryptoDiffer)Well, thx for the answer! you've touched the NFT topic, so let's enhance it
Q4: How do you intend to use NFTs on your platform.How do NFTs fit into the space and how do you plan to categorize them?
Mario LeeOn our platform, artists can release their songs and albums as one-of-a-kind or limited editions. They can also raise funds to help with the music production by selling parts of the rights of the song to fans and project backers.
Initially we will have trading functions on the marketplace, but we plan to add auction, crowdfunding, and other ways of leveraging the NFTs as part of the roadmap.
On the marketplace, there will be 5 categories of NFTs: Music, Album Art/Photos, Short Videos, Music Videos, and Others (Autographs, Tickets, etc.)
NFTs can represent anything really, so the possibilities are endless.
well! thx for the detailed explanation, we have one last question before we move to the community part
it is about the financial part of the Mozik!
Q5: What is the utility of MOZ & MOS tokens? Can you throw some light on the tokenomics.
Mario LeeOf course.
Mozik is a music streaming and NFT marketplace.
On the streaming side, fans can collect MOS points by their participation, such as using the app daily, recommending songs, posting comments, joining online/offline promotions.
With these MOS points, they can exchange it in the Mozik wallet to MOZ tokens.
And with the MOZ tokens, they can use it to purchase and trade NFTs on the marketplace.
MOZ tokens can also be exchanged back to MOS points. For example, artists can exchange their MOZ tokens to MOS points and then use them as gifts for fans that join their promotions.
Myko (CryptoDiffer)Superb! That was a fantastic first part of the AMA, now we''ll move to the community part
Thank you for such detailed and interesting answers!
Mario LeeMy pleasure.
Cryptodiffer Community1. How does Mozik intend dealing with copyright issues? Or how do you fix a situation whereby a copyright protected song is published on Mozik?
2. Can you talk briefly about the Mozik community and the Tokenomics?
Mario LeeYes, we will have automated validation checks during the minting process. For music, the process will be like using Shazam to check if a song exist or not. Users can also report any fake or inappropriate content on the marketplace. If the content is in violation of copyright infringement, we will remove the content and freeze the uploader's account. There will be an appeals process where the uploader can provide proof of ownership. There will be a committee that reviews these appeals. As for your second question about tokenomics, I think I already touched on it before. As for the Mozik community, we have about 10M+ users on our streaming platform right now.
Cryptodiffer CommunityWill we be charged for using your platform? What are the subscription terms to use musical works and digital recordings, limited NFTs? How do we subscribe?
What work will you do in your partnership with star names like Faye Wong and Ouyang Nana? Are there any other famous artists you meet?
Mario LeeThe streaming service will be free to use. Listeners can opt in for a subscription service to get added features, like better audio quality, offline listening, added sound effects, bonus MOS points, etc. The NFTs that fans buy on the marketplace are more like collectibles. They would be valuable as the artists will only release limited runs. We already have IPs and partnerships in place. We will be announcing them very shortly as good news. So stay tuned and follow us on Twitter and Telegram.
Cryptodiffer Community🔵 How will your platform support the artist to receive appropriate attention?
How many different content will you split NFT assets into on your platform? What are the contents?
🔵 When we hold MOZ tokens, can we participate in music festivals and major events free of charge? What benefits will NFTs provide for purchase access?
Mario LeeOur NFT marketplace will launch shortly after our IDO, we will be showcasing 1 artist/producer every week for the first 10 weeks. We will be working closely with these artists to help them promote, at the same time, we will be load testing our platform and services. This will include figuring out all the different media file format, the limit of file sizes, etc. When fans hold MOZ tokens, it will unlock tickets to exclusive events like music festivals or fan meet and greet. It will also grant access to purchasing rare NFTs on the marketplace.
Cryptodiffer CommunityCan you tell how you are protecting the funds of MOZ buyers by making sure no rug pull happens or even if it happens then MOZ tokens don't lose value?
Mario LeeMozik has been in operation for the last 5 years and we plan to keep on going. We are very fortunate to be working with many partners and investors, who also believe in what we are doing at Mozik. Here is a list of our partners and investors. We plan to use the raised funds to continue to improve our platform, acquire more exclusive IPs and further develop our community.
Cryptodiffer CommunityI see some platforms like Rythms and Beats, Miraqle, Rocki in the blockchain based music area. Some focusing on music some combining with NFT. What is your assumption about future of this market?
Mario LeeYes there are many notable blockchain projects in the music space. I think this is healthy. It shows this is the trend and evolution of the music industry. Artists, the foundation of this industry, have been treated unfairly for far too long. I believe with NFT and blockchain technology, artists will finally be compensated fairly.
Cryptodiffer CommunityWhat strategies and incentives has Mozik come up with to help attract artist and fans who are not on blockchain to get onboard?
Mario LeeInitially, when an artist release their songs/album on our NFT marketplace. We will help them with the minting process, writing the smart contracts, etc. We will also give them some starting MOZ tokens, that they can exchange into MOS points for marketing in the community side.
Cryptodiffer CommunityThere are some great features MOZIK possess, can you drop links to stay updated and is this project safe for users. ?
Mario LeeYes, please follow us on Twitter and Telegram for the latest announcements.
Thank you everyone for your excellent questions!