Mozik plans to launch its ICO soon. What does it offer?  

Mozik plans to launch its ICO soon. What does it offer?  

Mozik announced that it plans to launch its native token on June 6, 2021. It is a decentralized music NFT platform that attracted a lot of interest in the market. Mozik facilitates direct transactions between artists and fans. It also enables people to distribute and monetize any music or celebrity-related NFTs.

The company decided to release the MOZ token to give its users additional benefits. MOZ is the platform’s utility token. Customers can use it for staking to unlock features such as participation in exclusive music events. They can also have access to purchase limited-edition NFTs and pay fees for storing content and processing transactions. In addition, MOZ owners can participate in protocol governance voting.

According to the company, a total of 5,000,000 MOZ will be available for sale during the initial coin offering. The price will be $0.02 per token. The platform will accept BUSD in exchange for MOZ. Mozik plans to raise $100,000 during the ICO.

While there are many new protocols on 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. There are some rough edges in need of smoothing, though. For instance, large players like Tencent, Alibaba, and Apple control the industry. They use their status to maximize their own profits and, as a result, take power away from individual artists.

Besides, online music works are easily reproducible. Piracy is rampant in this industry because it’s difficult to protect the rights of the pieces. As a result, creators’ interests are harmed. Standardized copyright transactions are also difficult due to the lack of a unified online music trading platform.

How does Mozik plan to solve these problems?

First of all, the company plans to introduce tokenized IP so that artists could choose to monetize the ownership of their content. They will also be able to sell it to fans and traders on the open market. Besides, the rights can be fairly split between composers and producers, as well as the platform itself.

The platform can also steer customers towards discovering and promoting fresh talent by using MOZ tokens to incentivize interaction with trending and new artists.

The post Mozik plans to launch its ICO soon. What does it offer?   appeared first on FinanceBrokerage.

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