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We’ve all heard about starving music artists who seem to constantly be in financial conflict with their record levels and other middle-man level people. The main complaint is the same – they are getting their fair share of the incoming revenue from their creation.

VOISE has set out to address this gripe by creating a decentralized music streaming and downloading platform. The platform’s structure will facilitate VOISE’s goal of distributing 100% of the revenue to the artist.

VOISE’s idea is ambitious, to say the least. It requires the support of players in the entertainment industry, which are already privy to a host of services that may null the need for VOISE.

Let’s go over this startup, and how it seeks to disrupt the music industry.

Cutting out the record label

Since the beginning of the record industry, musicians and labels have been at odds. Either labels are accused of keeping the rights of the music created or allocating only a small part of the revenue to the musicians.

No matter, the situation tends to lead to the bad feelings, and musicians are tempted to leave the label all together. Those who do often find the costs of going it alone to be too financially burdensome. They may be able to sing and/or produce songs, but they have no idea how difficult it is to get their product distributed to the masses so that they can make money.

With VOISE, however, the thought is that its platform is the solution to these problems. Artists can monetize their work in what calls “a collaborative P2P marketplace.”

They can set a price for their works, provide free sample tracks and seek support from music enthusiasts and users on the platform. - VOISE

Here’s VOISE’s idea in a nutshell:

  • Artists upload content
  • Data published through P2P
  • Available music visible
  • Users buy it with VOISE
  • Purchases become visible on Blockchain
  • Artists get 100% of the revenue

Disappointing ICO

While VOISE worked hard to tout the benefits of its project, they seemed not to be too convincing when it launched its ICO. Held in May, 100 million tokens, initially called VSM, were sold. At that time, a 15% bonus was offered, but VOISE struggled to hit that 92 million mark.

VOISE, in September, announced it is changing out the VSM token to a new token called the VOISE token. Like VSM, these tokens are built around Ethereum smart contract technology is the primary medium of value exchange over the VOISE music ecosystem.

VOISE says these tokens can be stored on the user’s preferred device using a personal desktop wallet, ERC20 compatible web-based wallets like MyEtherWallet or within the VOISE platform itself. 

Its tokens can be used to purchase music and other available content on its platform. They can be traded against other cryptocurrencies or fiat on some exchange platforms.

The platform will be anonymous and will use Ethereum’s Blockchain technology.

Ambitious effort

VOISE idea is ambitious to say the least, and it is committed to tapping all the favorites of music lovers. For example, even as it was holding its ICO, VOISE released an on-demand radio station.

Although VOISE’s offerings are needed, the extent of that need is questionable. Today’s artists have become untethered from the burdensome financial terms that used to leave them with just pennies on the dollar. That’s largely due to technology.

VOISE is going to have to depend on attracting independent artists to its platform. In addition, it must rely on music lovers to give up, or even consider services outside of, popular established music services.

The one thing that is a standout for VOISE is its promise to return 100% of the revenue to artists. VOISE says it plans to make money through promotions, paid content, and exchange fees. Also, its radio listeners will be able to vote on their favorite songs by spending their tokens.

Whether any of this will be enough to be competitive in the cutthroat music industry remains to be seen.