The revenue from the crowdsale will be directed to further development of VOISE platform.
VOISE, the blockchain-based platform dedicated to artists and music lovers, has already launched Voisium tokens (VSM) crowdsale as a part of its alpha stage plan for the development and release of a range of client software. The crowdsale started at 02:00 GMT on May 6, 2017 and will last for one month. It will be finished at 14:00 GMT of June 6, 2017.
Voisium (VSM), the native cryptocurrency on VOISE platform available for purchase, is based on Ethereum smart contract technology. The VSM tokens will allow not only purchasing content over the platform but making peer-to-peer transfers and trading against other cryptocurrencies as well. The platform has set a finite supply of 100 million VSM tokens, making room for appreciation of its value as adoption increases.
According to the press release, VOISE prepared an additional 25% early bird bonus for those who participated in the ICO during the first 16 hours.
The revenue from Voisium crowdsale will be directed to further development of the platform. A number of features are planned to be added including fiat currency support (soon users will be able to pay with USD, EUR and GBP). The fiat support will be enabled through partnerships with exchange platforms. VOISE is going to start searching for partners once it builds a significant user base.
Based on Ethereum blockchain, the VOISE platform allows music fans discovering, streaming, and downloading unique content. It looks like any other online music store application where users can purchase the content of their choice using a range of currencies. There is a huge collection of tracks categorized according to release dates, genres, and albums. An excellent collection of content created by independent artists is something that differs VOISE from other app stores.
Artists who have joined the platform have an opportunity to avoid attracting third parties or record labels who charge huge commissions and can sell their content directly to users. VOISE has developed an ethical business model where 100% of the revenues on the platform is distributed to the artists.
As far as VOISE platform is designed for musicians and not technicians, the design is rather simple and no special skills or industry knowledge are required.
The music industry is still far from the blockchain and cryptocurrency technology. The VOISE team sees a great potential in the technology and aims to introduce it to the huge music industry. Soon the platform will support fiat currencies to ensure familiarity with existing infrastructure and facilitate the transition between technologies.