Master Ventures FUEL incubates Mozik
The Master Ventures FUEL team consistently seeks out and incubates projects that make an impact and helps take them to market.
We’ve added another high potential project to our incubator, and today we are excited to announce them!
Meet Mozik, a decentralized music NFT platform that aims to build a healthier and fairer music economy ecosystem. Mozik, through the blockchain, wants to eliminate the monopoly of the centralized system.
The Music Industry Needs a Rebalance
The internet has changed how people consume music dramatically over the past few decades. Without the need for media-curated filters or advertisements, control over the industry has shifted from big labels back to the people.
Although the music is consumed effortlessly, the musician isn’t rewarded in kind. A recent study by Citigroup stated that artists only gained 12% of the $43 billion generated through the music industry in 2017. The stats prove that while the overall industry is still profitable, its main actors, the music artists who contribute their talent, are left without. This stat is made even worse by the fact that even Spotify, the world’s largest music streaming app, pays rights holders between $0.006 and $0.0084 per play. Most times, the rights holders are the labels, not the artists.
The music industry suffers from other issues, too; the sky-high expectations for example. Back in the day, artists who signed a contract had time to grow, experiment, and even fail — they had time to mature. Now, because the money is tighter, the industry demands a finished product at the first try.
Moreover, the democratization of music with Soundcloud, YouTube, and other platforms poses additional hurdles for artists. They not only have to produce great music but be exceptional marketers, making the most of every opportunity they get.
How Mozik Intends To Disrupt Music with NFTs
As the music industry becomes increasingly dependent on streaming services and other forms of revenue, it’s only fair the artists get an equal piece of the pie. Mozik intends to make that happen utilizing NFTs.
NFTs, also known as non-fungible tokens, are similar to cryptocurrencies like Bitcoin and Ethereum. NFTs are unique, however, and no two of them are alike. An NFT can consist of images, music, art, and GIFs.
Mozik believes NFTs have the potential to change the way the music industry works entirely. Artists can create, showcase, and sell everything from exclusive videos to entire albums on the blockchain without signing a label contract, going through publishers, or spending heavily on marketing.
Through Mozik’s decentralized NFT platform, artists can also register earnings through music copyright, super-star IP, celebrity traffic, and IP derivatives on-chain. Mozik’s platform ensures all participants in the music ecosystem — from the creators to publishers to the fans can fairly participate. Through Mozik, artists make what they deserve and are incentivized to create more and better quality music. Through the blockchain, Mozik can lower publishing costs, and the true decentralization the technology provides can raise engagement from fans. All participants can share in the rewards, thus creating a healthier and fairer music ecosystem.
Mozik is a decentralized music NFT platform aiming to build a healthier and fairer music ecosystem.
FUEL Incubation is a joint venture between Master Ventures and PAID. It is an incubation program that brings together Master Ventures’ combined 30+ years of blockchain and cryptocurrency experience and network of investors and advisors with PAID’s strategic marketing resources and its IDO sales platform, Ignition.
FUEL will supercharge Ignition projects by opening market access, building a project community, raising funds, and building an investor and influencer network, as well as assisting in the construction of token economic models. From the same team that grew Elrond and Ultra, every new project incubated by FUEL will have the resources it needs to perform exceptionally.
FUEL lays the groundwork for a project’s successful moon mission.
About Master Ventures
Master Ventures is a blockchain-focused venture studio helping to build the next generation of blockchain-based Web 3.0 system innovations within the crypto industry. Launched in 2018 by Founder and CEO Kyle Chassé, the company’s ethos can best be summarized in the acronym #BeBOLD: Benevolent, Open, Love, Decentralized.
Master Ventures co-creates with entrepreneurs and businesses worldwide to turn the best ideas into innovative and disruptive products. They do this by investing as strategic partners through offering advisory services to the projects they believe in. To date, Master Ventures has invested in over 40 crypto projects, including the likes of Kraken, Coinbase, Bitfinex, Reef, DAO Maker, Mantra DAO, Thorchain, and Elrond.
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