Some say the industry is saturated with platforms and tools that address the core problems in the music industry; capital and exposure. But in actual fact, most of the platforms out there do not or cannot achieve this, because ultimately their shareholder goals are what is most important (a centralized form of governance). For other networks, fans are simply rewarded by being able to listen to the music, but it should be so much more than that. There is a causality dilemma; who is more important: the shareholders, music creatives or the users of the platform? The answer is quite simple – all are important and add value to the system.
Potentiam is creating a network not just for the music artists but everyone in the music supply chain including the fans. It is a decentralized and incentivized collaborative music eco-system. A trustless system that will empower all those involved in the creation, promotion, and consumption of music.
Potentiam will provide a groundwork for innovative and extensive collaboration between the various parties involved in the music industry including the passionate fans without the need for middlemen. It will mirror all the transactions that can happen in the real world in the music industry and completely digitalize it.
Using tools on the network such as PTM tokens, IAM and Potent Vault the Potentiam team have found a system to incentivize all the players in the music ecosystem. The network will run on a basis of meritocracy and a proof of stake ideology.
Music creatives, fans, and investors will all receive a fair reward for their contribution in the form of PTM tokens (cryptocurrency). Music creatives for the content provided on the network, fans for the support they bring to the network and investors for the long-term vested interest in the network.
For more details about the project you can see their White Paper, and about the crowdsale, dates and more details of participation, you can receive the information directly by subscribing to the Potentiam mailing list.
Details of the Tokensale
Potentiam is launching a public tokensale to raise funds for the Potentiam project. The tokens will be called PTMs and will be attached to the new standard ERC20 token in the Ethereum main network.
PTM token details:
Token / Token – Used to buy goods, services and advertising space in Potentiam
Symbol – PTM
Maximum supply – 100,000,000
MTF Price – 1 PTM = USD 0.41
Coin distribution – 4 weeks after Crowdsale closes.
Potentiam Official Website (platform)
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