Blockchain is clamoring for the decentralization of almost all sectors around the world, and this time, the blockchain technology centered on distributed protocol, Ontology (ONT) has rose to the decentralization of the music industry in partnership with a music blockchain platform that has over 2 million active users.
Coming from the medium page of the Cryptocurrency is a news that the new high performance multi-chain project has declared an alliance with a decentralized music platform Muzika to develop a newly reformed music ecosystem with DApps on the former’s underlying blockchain network.
The music industry has been gradually migrating from physical recording to digital music and online streaming and downloading. Although the revolution makes music accessibility better, but there seems to be need for more addition to the industry as Ontology-Muzika open the eye of the sector to decentralization.
As the industry continues to face the challenges of middlemen, copyright and limited fan participation among others, the latest development from the duo seem to be a timely square egg in a square hole.
Result Of Ontology (ONT) And Muzika Partnership
Ontology and Muzika will help build a reliable blockchain music platform that initiates decentralization into the industry.
The partnership will help Ontology and Muzika to also conjoin in events and community.
Using Ontology Blockchain technology, Muzika’s sustainable music ecosystem solution will give fans more right and a new identity in the music world. Fans will now be able to participate in a number of their desired steps of the industry like music production, consumption, allocation, and profit distribution. This will help production and fairly distribution of original music.
Handing fans and artist more right, Muzika will eradicate needless intermediaries by developing an autonomous and reasonable digital music ecosystem. Surely, this will reestablish the profit balance amid market participants
The CEO of Muzika, Inseo Chung said the alliance of the two big companies will surely beef up developments in the industry as they look to bridge the gap between all stakeholders with innovations.
Ontology’s Founder, LI Jun in his own word said as music has different application in life Ontology is happy to transform the industry including relationship between users and producers. With the development of the DApps, better users experience will be witnessed, he added.
Muzika, so far been has about 17,000 music producers in more than 150 countries, and it is well inundated with quality experience in community management and user management.