BlockTunes.net is a blockchain based music platform that is built by musicians for musicians. Our goal is to decentralize the music industry one block at a time!
Fans will be able to actually support in the artists they love directly as well as invest in the future of the music industry through the BlockTunes investment DAOs on Binance Smart Chain (BSC). Musicians will also have the ability to create their own DAOs as well for fans and investors of all kinds to invest in their work and future.
BlockTunes is a partnership headed up by The Logical Dude, LLC (@thelogicaldude, @hivelist, and @groove-logic), with marketing partner, Daniel Steelman aka DJ Steel formerly of Fine Spun Productions. The team has a long standing work history together in the music industry and are wanting to combine their old love of music with their new love of blockchain and decentralization.
Our mission statement:
Our mission is to give control of the music industry to the musicians and to treat music like the rare art that it is!
Blockchain allows artists to receive compensation for their work many times over in ways that will traditional labels cannot offer. You and your hard work are no longer just a product for someone else to capitalize on. Music is fine art, it should be treated that way!
Topics Covered
- The Magic Behind The Curtain
- What BlockTunes Offers to Musicians
- What BlockTunes Offers Fans
- BlockTunes DAO and Tokenomics
- BlockTunes.Social on Hive
- Hivepay Integration
- NFT Collections
- Musician DAOs
- Metaverse Events
The Magic Behind The Curtain
BlockTunes.net is a Wordpress based website with the WooCommerce e-commerce platform built in. The @hivepay-io (https://hivepay.io) payment plugin is used to accept payments in Hive, HBD, SWAP.HIVE, SWAP.HBD, SWAP.BNB, and SWAP.BUSD. The Coinbase Commerce payments plugin is used to accept payments in BTC, ETH, LTC, BCH, DOGE, USDC, and DAI. And Stripe is used to process credit and debit card payments with an additional processing fee attached.
The WPSmartContracts plugin is used to integrate the NFT collections and other smart contract functionality for Binance Smart Chain and Polygon. The NFT Collections will be discussed in another section.
The Ethereumico.io ERC721 plugin with lifetime license suite was purchased and installed to build in the Binance Smart Chain (BSC) NFT wallet functionality as well as integrate the ability to sell NFTs and BEP20 tokens as a regular WooCommerce product.
The built in wallet and WooCommerce integration will only work with Binance Smart Chain (BSC). Every customer and artist that creates an account on BlockTunes will get a wallet created when their account is created. Users will have the ability to use that address to send their DAO tokens and NFTs. If the user already has an address with Metamask, they can import using their private key and then they will be able use their existing wallet with BlockTunes. This also gives the user to see any NFT they have purchased on any BSC NFT marketplace.
XDAO app is the DAO creation platform that is used to create the BlockTunes DAO on Binance Smart Chain (BSC).
What BlockTunes Offers Musicians
Section edited 1/25/22
When an artist registers and is whitelisted, they will then have their own store available on the BlockTunes site. This is where they can pay the BlockTunes staff a per submission fee and the work will be handled for them. This service comes with allot of perks including getting half of the submission fee back in bTUNES tokens which the artist can then hold and receive dividends when the DAO starts paying out to investors. This will give artists revenue on their submission before they have even sold one copy! For the first time an artist uses the service, they will also be issued a BTD governance token, giving them a vote in the DAO. It also comes with other perks that will be listed on the BlockTunes Release Submission Service.
BlockTunes has partnered with @hivelist (https://hivelist.io) to offer print on demand merchandise services for artists! This allows the artist to have their own merchandise store! All they have to do is supply the artwork and our partners handle the rest. Artists receive 50% of the profits from any POD product sale. This comes after all production costs, shipping, taxes and payment fees (mainly fiat payment fees) are taken out. This can be paid directly to the artist or into their DAO if they elect to start one.
Regular store purchases will be paid out via BUSD to the wallet address associated with your internal BlockTunes wallet. A small 1% processing fee to cover gas and conversion costs will be accounted for as well.
All music download purchases, NFT purchases, and recurring donations will have a 10% commission that will be automatically set up for BlockTunes and goes directly to the DAO, the rest goes to the artist. The only exception is the 50% commission that goes to the Hivelist partners for Print on Demand merchandise.
Professional mixing and mastering services are also available at a discount for BlockTunes artists from our partner, Groove Logic Productions.
BlockTunes offers a release submission service with 2 plans: BlockTunes only, and BlockTunes Plus.
The BlockTunes only service get's your music listed on our site, creator copyright NFT, royalty free NFT bundles, a tshirt and hoodie with your album cover listed on your store, Hivepay and BSC direct tipping options, and a review write up by our public relations partner, Indie Band Guru.
With BlockTunes Plus submission service, you get everything in the Only package, PLUS, BlockTunes acts as the Publisher and handles the distribution of music to the major platforms such as Apple Music, Spotify, YouTube Music, Amazon, and more, as well as we add your music and merch to our store on the Hivelist store as well as any other blockchain music platforms we partner with.
Artists will also be able to mint NFTs in the OpenTunes Collection, and the Creator Copyright collection. More on NFTs in another section. NFTs turns your music into collectibles. They will also be able to add external NFTs or products from other stores into their BlockTunes store and use it as a showcase. So for example, if the artist has NFTs on Opensea or NFTShowroom, they will be able to link them to their BlockTunes store. When the customer click on the item they will be taken to a product page which then instead of an Add to Cart button, you will have a button that leads to the external source.
What BlockTunes Offers Fans
Fan will have the ability to purchase and download music in a traditional manner, except they can pay with various cryptocurrencies. They will also have the ability to purchase and own rare editions via NFTs and even resell them.
Fans will also have the ability to invest directly and support their artists via the Hivepay recurring payments feature, purchasing NFTs on the OpenTunes collection, as well as any custom artist NFT collection, purchase the royalty free rights to music allowing them to use it in things like videos, presentations, or other commercial uses.
Fans will also be able to invest directly into the BlockTunes DAO or any musician's personal DAO. Purchasing LP investment tokens in a DAO will build up token funds that can be used as DEFI investments. Governance tokens, if offered, will give a fan voting power in the invested DAO. More on DAOs in other sections.
Fans will also have the ability to stream music directly from our catalogs in our future streaming web application. More on this in another section.
BlockTunes DAO and Tokenomics
Section edited 3/4/22
Blocktunes DAO is made up of DEFI backed DAO smart contracts built on Binance Smart Chain (BSC). The DAO has a governance token and an investment LP token. Users can visit the DAO dashboard on XDAO where they can track the performance of the DAO, voting members can take action, and anyone can purchase the LP investment tokens.
The governance tokens give holders a 1:1 vote in the DAO, meaning 1 token equals 1 vote.
Governance Tokens (GT for short):
Binance Smart Chain DAO GT ticker symbol: BTD
Investment or LP token:
bTUNES on BSC
2 BTD will be held in a specific wallet address that will represent the Hive community vote. This brings further decentralization in that the entire Hive community will have a chance to have a say in a voting proposal.
5 BTD are issued to the BlockTunes main wallet. Each member of the BlockTunes advisory board is also issued a BTD governance tokens. BTD tokens will be issued to each artist upon their first release submission.
The voting quorum is currently set to 21%. This percentage is our tribute BTC and its 21 million total supply. This also gives a safety net for votes incase many of the token holders do not vote on every vote. This will ensure that a vote will pass if BlockTunes, the Hive community, or at least 1 GT holder votes in favor. If the votes do not get signed, the proposal does not pass. This quorum amount can be changed via a DAO vote in the future once operations are running at full speed. BTD tokens do not have monetary value outside of the DAO and cannot be transferred without a DAO vote. BTD can only be moved to another address or burned by a voting proposal.
LP investment tokens, bTUNES, are simply that, they are investment tokens that will fluctuate with the AUM, or Assets Under Management, in the DAO. LP tokens do not give holders any voting capabilities. These are reflection BEP20 tokens that reflect that value in the DAO and can be transferred like a standard token as well as they can sold on a DEX if a pool were formed say on Pancakeswap at some point in the future.
There is not a cap on the supply of the LP tokens. They are minted via a continuous public offering through the DAO platform. More LP tokens purchased, the bigger the total value locked in the DAO becomes.
We will be using the Pancakeswap DEFI platform on BSC for our main yield farm as well as using the Venus Protocol to build a credit reserve fund and earn interest on a variety of tokens.
Starting investments BSC:
Pancakeswap:
CAKE/BNB Farm
BNB/BUSD Farm
Venus Protocol
vBUSD
vCAKE
More investments can be made by making DAO proposals and voting.
All commissions from NFT sales, music and merchandise sales, and funds earned through artist services will be deposited into the DAOs. Any sales from the website will be sent to the BSC DAO.
BlockTunes.Social on Hive
Section Edited 1/25/22
The BlockTunes.Social community on the Hive blockchain is going to be the epicenter of the BlockTunes community. It is a community for artists to share their music posts, BlockTunes announcements, DAO votes, etc. Artists will need a Hive account to use the community, or even start a community around their music for their fans!
We will be using the integrated BeeChat for a support channel as well as a general chat section onchain.
There is also a BlockTunes Discord server you can join as well, but we are wanting to keep most of the activity on the blockchain in the spirit of Web 3.0.
The Hive community is going to play a vital role in the BlockTunes DAO votes.
All official DAO votes will start on Hive with a proposal and a vote and will last for the standard 7 day post turnaround. The vote response from the Hive community will be the deciding vote for the 10 GTs that the representing address holds.
Hive community address representing the BlockTunes DAO vote:
0xd7bb346cE09Ae4eae7284e5Db5B20b71a1A50461
Hivepay Integration
Hivepay.io is a payment portal that allows users to pay for items on the store with Hive, HBD, and select Hive Engine tokens. It has other very useful features as well.
Hivepay is used in 4 different ways.
Standard payment plugin for WooCommerce purchases. This is if you purchase items from the shop through the standard checkout method.
Direct to artist payment button on a download music product.
Recurring payment support button on all artist pages. This will allow people to be able to support the artist directly in a Patreon style manner. The artist should offer some kind of bonus to people that provide recurring payments. That will be up to the artist to decide.
Recurring payment feature for the streaming service.
NFT Collections
Section edited 3/4/22
NFTs, or Non Fungible Tokens, give you the ability to treat your music like fine art. You can create rare tokenized versions of your works and sell them as collectible pieces of art.
NFTs can be used as a creator copyright licenses, proving you are the creator of the work as well as sell the limited commercial use rights and the NFT will act as the proof of rights or ownership of something; sort of a certificate of authenticity. The opportunities are endless! Future use of BlockTunes NFTs will also be used for tickets and memberships to future VR/Metaverse concerts and events.
The following open NFT collections will be available for artists on Binance Smart Chain.
OpenTunes Market collections – this is a place to mint original work that you want to make into a rare digital collectible. There are all kind of possibilities on how to manage your NFTs. NFTs on this collection have a 10% market commission paid directly to the BlockTunes DAO on that chosen blockchain, and it has a 10% commission for the artist. This means that any time the NFT is sold on the market after the initial sale, both the artist and BlockTunes gets a portion of that sale! Artists may want to sell the royalty free rights to allow content creators and influencers the ability to use your music in their videos and presentations. By selling the license as an NFT, this gives the artist a way to digitally transfer the license to someone.
Creator’s Copyright collections – This collection is an open collection to all verified BlockTunes artists for you to copyright your work on the blockchain. This will be a copy that you will not want to sell and will hold in your wallet, unless you are selling the actual creators rights for the work, which is giving up your rights to the music.
With the BlockTunes release submission service, a creator's copyright NFT is minted and sent to the artist, as well as 2 royalty free NFTs are created on a separate collection from the OpenTunes collection and are sold on the store as a bundle with your download.
Every account that is created on BlockTunes also comes with a built in Binance Smart Chain wallet that is setup to display both the BlockTunes tokens as well as your entire NFT collection across all BSC markets.
Premium Service -- Artists can have their own private NFT collections for a cost of $100 per NFT collection. This can be setup for the Artist as an overall NFT collection or they can elect to have a private NFT collection for each album if they wish.
Musician DAOs
Artists can have their own DAO with GT and LP token setup so they can create a decentralized business for their music. Artists can choose to have their NFT sales and store sales sent directly to their DAO funds. These DAOs are created on the XDAO platform. Artists are free to create their own DAO if they want to manage it, or pay for the premium service to have us set it all up for you.
Artists can then choose their own investment options to start it off and decide how their own DAOs will be managed.
Metaverse Events
With the world in shambles and everything is restricted in one way or another, the Metaverse is the next generation of how people will be putting on events. We are looking for the best metaverse avenues to hold events. Currently looking at platforms like Altspace VR and Second Life to hold virtual concerts and live events.
Artists that want to perform in these spaces will have to have a location that they can broadcast a live stream from. This gives anyone in the world with a computer and an internet connection to be able to attend a live event with other global music lovers without all the travel hassles, dealing with club security, police, etc... And best of all... no mandates...
Metaverse events coming in Quarter 3, 2022.
In Summary
BlockTunes is meant to be an all in one blockchain solution for independent musicians who are tired of the way the traditional music industry has treated artists and their work as mere products for them to capitalize on and give the hard working artist the scraps. We aim to bring true financial freedom to the music world through blockchain and DAOs.
Are you ready to change the face of the music industry?
Official logos and media:
Edited 1/11/22- Removed information about Polygon as we are no longer going to build on that network for the foreseeable future.
Edited 1/25/22- Removed missed information on Polygon, changed information about artist stores, changed information about token sale by adding end date, edited language around the sales percentage of the Governance sale. All funds are going to the DAO. Added a section about the BlockTunes Release Submission service offering, removing option for artist to add music to store due to submission service opening. All sections edited are marked.
Edited 3/4/22 - Removed the governance board sale information as well as made some changes to the NFT collection structure, token structure, and other small changes. Removed the streaming section due to the new functionality built into the site that automatically added streaming features.
Awesome !! I'll give it a good read later today..
This is good stuff man! I like how it integrates it all into one. I also like the fact that it is a WordPress site that offers a bit more flexibility. I need to dive deeper as I am not sure where the NFTS get minted to or if there are options.
The NFTs will be minted right on the site. Artists can also link any NFT they have on any other marketplace as a product on their store, giving them a place to showcase all of their NFTs. More on this time come.
Nice one, not sure I understand all of that but it sounds very cool! !PIZZA
I will answer any questions you are unclear with. This this meant to be more of an explanatory and technical post anyway. Had to get it all out there, haha.
Read how this all have started with Toruk
Posted Using LeoFinance Beta
~~~ embed:1471474251463106562 twitter metadata:aGl2ZV9ibG9ja2NoYWlufHxodHRwczovL3R3aXR0ZXIuY29tL2hpdmVfYmxvY2tjaGFpbi9zdGF0dXMvMTQ3MTQ3NDI1MTQ2MzEwNjU2Mnw= ~~~
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.
PIZZA Holders sent $PIZZA tips in this post's comments:
stickupboys tipped thelogicaldude (x1)
@steevc(3/7) tipped @thelogicaldude (x1)
Please vote for pizza.witness!
Congratulations @thelogicaldude! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s):
Your next target is to reach 70000 upvotes.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPCheck out the last post from @hivebuzz:
Support the HiveBuzz project. Vote for our proposal!
If they decentralized music industry,I don't know how it will be. I don't know how it will favour us.
Posted Using LeoFinance Beta
It puts artist back in charge instead of the thieving record labels taking everything from them. It makes music into fine art again. So how could decentralizing the music industry not help artists?
I'm still watching
Posted Using LeoFinance Beta
Your content has been voted as a part of Encouragement program. Keep up the good work!
Use Ecency daily to boost your growth on platform!
Support Ecency
Vote for new Proposal
Delegate HP and earn more
Brah, lot's to digest here, have to re-read this later. I'm already impressed for sure.
Posted Using LeoFinance Beta
This is exactly the sort of thing I've been wanting to see on Hive for musicians. Good luck with it.
!PIZZA