“Muzika is a revolutionary coin economy that will reshape the global digital music industry.” This whitepaper outlines how Muzika revolutionizes the music industry by establishing a self-sustaining and righteous digital music ecosystem that will (1) eliminate unnecessary intermediaries, (2) empower musicians and consumers, (3) decentralize distribution power, and (4) restore the balance of economic distribution among market players. Muzika holds the promise of a future where compensation for a musical creation becomes proportional to the effort and dedication put into the creative process.
For the past two decades, the music industry has gone through two enormous paradigm shifts: one from ‘tangible albums’ to ‘intangible files’, and one from ‘download’ to ‘streaming.’ The former made music more accessible and widespread, and the latter elevated the levels of cashflow into the industry.
However, the share of these boosted profits that musicians receive has seen a decline. Distributors and publishers are enjoying excessive and long-lasting returns for a one-time and unsophisticated task. The issue of digital copyright piracy still remains unresolved. Fans hope to see the musicians they love happy, but do not have any role to fill other than consuming digital music that is packaged by the distributors and publishers.
Muzika is gearing up to overturn the depressing reality of today’s digital music market. From A to Z, we will transform the digital music industry and re-define the roles of the market players involved, including consumers and musicians. The Muzika Coin (MZK) will serve as the sole medium for all the transactions and exchanges necessary within the new ecosystem, sparking a paradigm shift in the digital music industry.
We invite you to join the revolution.