Soundeon

Soundeon
ICO date: 27.07.2018 - 31.08.2018
Industry: Music streaming, Investment
Description:

Soundeon is a blockchain driven music platform that decentralises the industry.

How it works:

Soundeon creates an ecosystem for music industry. The company’s mission is to enable music creators worldwide to take control of their product. There are several key components of the platform.

Soundeon Exchange allows music creators to run campaigns to support their music. They can produce and sell tokens that represent royalties to fund production of their songs. These royalty tokens can be then bought and sold on the marketplace. Fans and backers can use this opportunity to support their favourite artist and get a more diversified investment portfolio. Copyright is protected by blockchain.

Soundeon Monitor is a data analytics and monitoring tool. It helps artists keep their income in check, monitor concert attendance and analyse all aspects of their creative output. Backers can track performance of their royalty portfolios. Deep learning algorithms of Soundeon Monitor give advice on how to increase their income to both parties.

Soundeon Tix is an extension of the platform that allows musicians to sell tickets directly to the fans, cutting down cost, and eliminate fraud thanks to the use of Creative Smart Contracts, the company’s smart contract protocol. Upcoming events are easy to navigate through, users receive personalised suggestions.

Soundeon Player is a blockchain based music player that tracks data on listening of a track and distributes royalties accordingly. The system forms personalised playlists and suggests tracks, based on what the users used to like previously. Tracks that are posted on Soundeon will be distributed across major streaming platforms, receiving royalty from them.

Innovation:

Soundeon is a step forward in the music industry. It gives the power to the artists, enabling them to crowdfund their projects effectively, and giving backes an incentive to support their favourite artists and to become a part of their success.

Innovation score: High

Token value:

Soundeon token is a utility token used pay for token generation, purchase tokens on the exchange, using player and buying tickets. As the company’s user base grows, the level of transactions that have to be conducted in NME will grow significantly, resulting in rise of the token’s value.

Token value score: High

White paper:

The white paper describes the company’s vision, discusses problems on the market and shows market possibilities that are yet unclaimed.  It also explains the platform’s system architecture.

The white paper is going to be updated soon, so the score is not final.

White paper score: Medium

Roadmap:

Apart from the roadmap Soundeon provides information on what services will be developed in different funding scenarios. Tix and Players will be developed if the project meets the hard cap.

The project started in October 2017. In April 2018 the company released an alpha version. Beta version will be released in August. In February 2019 the company will finish legal compliance and launch the exchange. Soundeon Tix will be launched in June 2019, Monitor in September. By the end of the years the company will start worldwide expansion.

Roadmap score: High

Business model:

One of the elements of a marketing campaign is conducting a contest for young musicians with a big money prize for the first place. It is ongoing now, and is expected to bring a lot of publicity to the project. Many have joined already.

The possibilities for profits are vast. The platform that allows selling royalties, concert tickets and offers music streaming can generate a lot of income. However, since information on exact revenue streams is not available yet, Soundeon cannot receive the highest mark in this category.

Stay tuned for the updates, the score may improve.

Business model score: High

Team:

CEO is a serial entrepreneur. He co-founded Hedge Fund Zilliard Capital and started many projects in tech and finance. CVO worked with CEO on Zilliard Capital, and used to be the person responsible for promotion of Bolshoi Theatre. CTO has over 10 years of experience in programming for trading. Head of Product has worked for Ernst&Young. The person responsible for strategy and development was asked to consult UN on finance.

The advisory board includes Ilya Lagutenko, a Russian singer who participated in Eurovision and launched his own music festival; a professor of economics, who authored the most cited article on resale in ticket markets; head of partnerships at Tidal; founder of LDJ Capital, whose opinion is sought by Bloomberg and WSJ; and a person responsible for corporate development in Yandex, world fifth largest search engine.

Team score: High

Competitors:

Even though Soundeon competes with music streaming services and crowdfunding platforms, it does get ahead by combining the two. Especially taking in consideration that it plans to partner up with big players on music streaming market.

Competitors score: High

Overall thoughts:

Soundeon has an idea that is going to transform royalties and music industry as a whole. It creates a place for new artists to emerge and for backers to earn a profit. With its strong team and bold marketing strategy, this project could become a success.

Website: soundeon.com
Whitepaper: Whitepaper

Overall Score

High

4.2 / 5

Risk score

Medium

Crowdsale


Pre-ICO

Pre-ICO start date: 27.06.2018
Pre-ICO end date: 26.07.2018

ICO

ICO start date: 27.07.2018
ICO end date: 31.08.2018
Soft cap: 3,000,000 USD
Hard cap: 37,000,000 USD

TOKEN DETAILS

Ticker: NME
Token price in USD: 0.056923
Bonus Program:

15% 11/06/2018  – 26/06/2018

10% 27/06/2018 – 26/07/2018

Legal


ICO Platform: No
Country Limitations: USA
Registration Country: Estonia