Blockchain-Based Music Streaming Platform GRAFSOUND Aims to Capture Every Sound in the World
(October 3, 2020) – Blockchain’s revolution has reached the music industry with the launch of GRAFSOUND, a music and audio streaming service with the grand aim of capturing all the sounds in the world. GRAFSOUND not only aims to become a repository of every musical note and voice, but also create a fair music market free from copyright infringements and a source of revenue for artists, singers and musicians to sell their content transparently and directly without intermediaries.
A blockchain-based music streaming service is sorely needed in today’s music market, considering its huge potential and the current problems that plague the entire cycle of music creation, distribution, sales, and consumption. GRAFSOUND will not only address these concerns, but will also offer dApp services for crowdfunding, single person broadcasting, shopping, auditions, BGM market, and more.
In the Korean music market, the streaming industry is not free and charges monthly fees. The global music market includes online downloads and streaming, with an annual growth of 2.5% and 8.4%, respectively till 2020 and estimated at $14 billion. Music streaming is expected to grab a large 23.2% market share of the global music revenue.
GRAFSOUND will allow anyone to create, share, and distribute their musical creation worldwide. With GRAFSOUND, the use of smart contracts takes care of registration and trade. The GRAF token (GSMT) is the platform currency that will offer a direct and rapid payment system that is also transparent. This will resolve the current issue of the decrease in artist profits, unequable contracts between creators and distributors or telecoms. By removing the intermediaries, the platform will thus remove opaque deals and loss of revenue.
Users and artists can use GRAFSOUND to freely upload their own music and all the creative and original sounds and share them with other users and generate income. They can sell their music or creations to individuals or companies. The platform offers membership registration as a Guest or Host.
“With GRAFSOUND, we want to offer a platform where anyone can create tangible and intangible added value. By making the entire cycle, from creation to distribution and sale transparent, the platform aims to usher in the needed reforms and a viable solution,” said a spokesperson for GRAFSOUND.
The GSMT token allows users to not only create content and earn, but also participate and invest in other content. The ERC20 token will allow using or purchasing content immediately using MyStarWallet, where digital assets can be transferred quickly through a messenger tool.
Among other services, GRAFSOUND recently launched the GRAFTV music streaming service for free on the app store. A global audition competition was recently organized as well. Another upcoming service is a one-person radio station, global audition support, artist support and crowdfunding for production.
More information about Grafsound can be checked on http://mygrafsound.com/ and the following social media channels:
Graf TV App: https://play.google.com/store/apps/details?id=com.graf.tv