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Potentiam Empowers Musicians through Blockchain Technology

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Potentiam

The music industry has a long history of extracting every last cent from musicians, before leaving them high and dry at the drop of a hat. The record label stereotype is greedy and even blood-sucking, entirely out for themselves despite their existence to promote and support promising musicians. New blockchain start-up Potentiam is looking to change that. Their vision is to leverage the power of the blockchain to seize control and put it back in the hands of the artist.

Founded by the same group that brought us the music discovery platform Britznbeats, Potentiam is still in early alpha. Despite this, they attracted a test user base of over 5,000 artists – all eager to get started. Starting with music creation through decentralized applications, the platform goes all the way through licensing to public performance and venue booking.

A Blockchain Record Label

Potentiam’s ambitious roadmap involves supporting their artists at every level of music creation and distribution. To this end, they intend to create a series of modules that will replace every aspect of a traditional record label – starting with their digital production studio. Hosted as a decentralized application on their blockchain, the digital studio offers a robust suite of tools to musicians. All aspects of music recording and editing are available, as well as various operations for collaboration.

Once the music is complete, the program adds it to the catalog management system. Copyright is partitioned out to the collaborating artists, and all pieces within the catalog become available for sampling. If another user samples an artist’s song, the original artist receives a prompt for licensing rights. They can then accept or refuse on their own terms. After establishing their catalog, the artist can then use a full suite of modules to get their music out to new fans.

Complete Vertical Integration

The Potentiam distribution modules offer an entire array of options for generating income. The traditional pathway is through their digital distribution module. It serves as a gateway into traditional media services like iTunes and Spotify. It gives the musician the tools that they need to upload their music to these services. Revenue generated through these services routes directly back via smart contract and deposits into the musician’s account using the Potentiam cryptocurrency.

Should someone want to make physical media copies of the music, the physical distribution module provides that option. Manufacturers can license a user’s music for print on a CD or vinyl to create their own mixes. Often overlooked as a source of revenue, the sync licensing module opens the entire catalog up to those looking for background music and soundtracks. Through this module, users can grant licenses for advertising and secondary media. The public performance module creates a market for event and radio music. Finally, the booking agent module is a portal for venues looking to hire live bands.

Their Recent ICO Extension

Potentiam reached their ICO soft cap fairly quickly – generating almost three times that amount in the time since. However, they have decided to extend the ICO program for an additional month to get closer to their projected hard cap. Given the low price of Ethereum in the current market, this gives new investors a golden opportunity to purchase Potentiam. The development team, heavily invested in blockchain technology, pegged their PTM tokens to Ethereum. This means that PTM is at a significant discount for as long as Ethereum’s price remains suppressed.

Potentiam Solves a Persistent Problem

While everyone complained about the predatory practices of the music industry, Potentiam came up with a plan to curtail them. Their development team has set an aggressive timetable and delivered on their promises. Their artist base is already measured in the thousands, and that is just for the initial alpha test phase. The Britznbeats team brings experience within the industry and a history of discovering promising musical talent. All indicators suggest that Potentiam will succeed in their endeavors, offering investors a chance to get in on a big project early.

Potentiam’s extended ICO will end on April 23rd, and tokens can be purchased directly on their website at http://www.potentiam.io

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of U2start via Flickr

Altcoins

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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