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Mozik plans to launch its ICO soon. What does it offer?
Mozik announced that it will launch its native token on June 6, 2021. It is a decentralized music NFT platform that has generated a lot of interest in the market. Mozik enables direct transactions between artists and fans. It also allows people to distribute and monetize music or NFTs related to celebrities.
The company decided to release the MOZ token to provide additional benefits to its users. MOZ is the platform’s utility token. Customers can use it for staking to unlock features such as participation in exclusive music events. You can also purchase limited edition NFTs and pay fees to store content and process transactions. In addition, MOZ owners can vote on protocol governance.
According to the company, a total of 5,000,000 MOZ will be offered for sale during the Initial Coin Offering. The price is $ 0.02 per token. The platform accepts BUSD in exchange for MOZ. Mozik plans to raise $ 100,000 during the ICO.
While there are many new protocols in the DeFi market, we don’t come across music-oriented ones very often. However, the music industry, and especially the online music delivery business, has great potential. However, there are some rough edges that need to be smoothed out. For example, big players like Tencent, Alibaba and Apple control the industry. They use their status to maximize their own profits, thereby depriving individual artists of power.
In addition, online musical works are easily reproducible. Piracy is widespread in this industry because it is difficult to protect the rights of the pieces. This damages the interests of the authors. Standardized copyright transactions are also difficult due to the lack of a unified online music trading platform.
How does Mozik intend to solve these problems?
Initially, the company plans to roll out tokenized IP to allow artists to monetize ownership of their content. You will also be able to sell it to fans and dealers in the open market. In addition, the rights can be shared fairly between composers and producers as well as the platform itself.
The platform can also encourage customers to discover and nurture new talent by using MOZ tokens to incentivize interaction with trending and new artists.
Post Mozik is planning to launch its ICO soon. What does it offer? first appeared on FinanceBrokerage.