imusify
closedBlockchain music platform for artist compensation and ownership.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | N/A | - | |
| Total Funding | 000k | ||
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Imusify was established in 2015 and is headquartered in Tallinn, Estonia, as a music discovery and sharing platform built on blockchain technology. The company aimed to create a direct peer-to-peer connection between artists, fans, and other music industry stakeholders. The platform was designed as an open-source space to foster new methods of music distribution, consumption, and engagement, allowing artists to network and collaborate while retaining direct ownership of their work.
The core of Imusify's model was to disrupt the traditional music industry, which often leaves artists with minimal revenue from streaming services. By utilizing blockchain, Imusify intended to provide artists with greater autonomy, higher income, and transparent transactions. The platform integrated features like a crowdfunding engine for artists to fund projects, transparent and fair per-stream royalty payments, and a marketplace for music-related services and products. Users, including both content creators and curators, were to be rewarded with the platform's native cryptocurrency, the IMU token, for their contributions, such as uploading, sharing, and curating content. The IMU token, a NEP-5 utility token on the NEO blockchain, was the central means of exchange for all transactions within the imusify ecosystem, including streams, purchases, and rewards.
The company held a private sale and a public pre-sale for its IMU tokens in 2018, followed by an Initial Coin Offering (ICO) in 2019. Imusify was recognized in the crypto community, securing second place in the City of Zion's first NEO dApp competition. The platform planned to use NEO's digital asset and smart ID features to protect copyrights and track licenses. In March 2019, the company received $40K in funding from the accelerator/incubator FasterCapital.
Keywords: blockchain music, decentralized music, artist royalties, IMU token, NEO blockchain, music crowdfunding, peer-to-peer music, digital rights management, music streaming, cryptocurrency, content monetization, music discovery, smart contracts, entertainment software, AudioTech
