Music is a fragment of our routine. We might never skip it as it is something more than a form of entertainment, preferably an effective medium for exchanging culture. There are many business models centered around music, as the demand for it has never gone down. Several industries encompass production, publishing, and live concerts. This, in turn, helps them earn billions. Though the music industry, especially the live shows and events, seems to be running smoothly, many complications prevail among the musicians, event organizers, and the general public who are fond of music. The advent of blockchain technology has disrupted the conventional flow industries. It digitalized everything, making the systems decentralized. With the increase in the number of tech-savvy and digital-savvy customers, enterprises are urged to make their digital presence a better one. And this suits the music industry as well.
Music industry — The current scenario
The individuals’ networking capacity in the music industry is limited, making it difficult for the musicians to find an event or the event organizers to find a musician. The industry is highly fragmented, and there is a lack of integrity. The intermediaries or third parties that bring musicians, venues, and fans together are slow, expensive, and are proven costly. There is a big loot behind the distribution of tickets. These ticket distribution agencies earn more than what musicians get. They steal a considerable value from the event organizers and musicians. Also, the current music industries lack proper mining and data collection, which could prove risky, making the musicians and fans suffer equally.
BeatBind — The perfect solution
The blockchain paradigm shift will be the ideal solution for all these unsolved issues in the music industry right now. BeatBind, with blockchain and cryptocurrency, has the tremendous potential to re-imagine how the industry works, and over time, it will reshape the future of the music industry.
BeatBind streamlines the event organization model and helps funneling most of the revenue to the musicians (creators) rather than taking it to the wrong hands by eliminating the middlemen between musicians and fans.
BeatBinds addresses the issues in the conventional music industry by developing a broader ecosystem of products. The penultimate aim is to allow the participants of the event organization ecosystem to interact and connect. The best artists, venues, and event organizers will have high demands, and capitalization will be more. In the conventional music industry, it is tough to reach quality performers or venues. Only the famous performers and media will be get used up repeatedly. There will be no hope for new artists or venues due to a lack of connections. With BeatBind, the event organizers can contact rising artists, and they get opportunities to perform both locally and globally.
As a good music fan, you need not visit any agencies to buy tickets for your favorite music show. No matter where it happens, you can get your ticket in no time just sitting on the couch. With BeatBind, you can directly purchase tickets from the event organizers for all the events created on BeatBind. This gives no room for fraud, ticket scalping, and forgery.
Here is what BeatBind delivers:
BeatBind delivers a variety of products to resolve various issues prevailing in the music industry. BeatBind develops a multi-stage business, each level standing on top of the other to fix the problems.
- BeatBidder
BeatBidder is a platform that connects all the participants in the event organization process, including musicians, event organizers, venue owners, and fans. This interconnection is proven fruitful to each and everyone in the process. The BeatBidders’s leverage auction system allows the participants to bid on each other to increase revenue. This bidding cuts down the costs and provides the participants an equal opportunity to participate in music events. BeatBind also allows the exchange of services like event organization outsourcing, sponsorships, and promotions on its platform.
2) BeatBuy
BeatBuy decreases the entry barrier for fanbase by direct selling of tickets of events created on BeatBind. The secondary markets steal up to $8 billion through ticket scalping from the creators of the events. BeatBuy takes the money to the pockets of musicians as they deserve it. Also, the tickets can be purchased using BBND, a utility token of the BeatBind platform. The use of cryptocurrency to buy tickets makes the entire process transparent. And this eliminates the need for banks or other third-party payment processors. The probability of double spending is zero.
3) BeatX
BeatX is a mobile application to enjoy event-oriented experiences like dating. The organizers can share clips and promos of the events to keep the fans engaging with the event they are about to attend. To protect all parties involved in the event creation and to ensure integrity, BeatX has a rigorous escrow protocol for refunding the money in case of disputes and failed transactions. BeatX allows the fans to connect and date likely minded people who attend the same event.
4) BeatAI
The lack of data mining and collection in the traditional music industry failed to produce proper insights for the industry participants. BeatAI uses bespoke technologies like machine learning and artificial intelligence to make accurate revenue estimations that will help participants in decision making (whom to hire or where to perform). This ensures smooth event organization without any hassle.
A team that stands out from the crowd
The Beatbind Team combines a passion for music, technology and a proven track record in finance, development, and marketing. The team of experts is working relentlessly to deliver their vision for the welfare of musicians, event organizers, venue owners, and fans. Doc Ish, the Chief Innovation Officer of BeatBind, is a Grammy Award winner, VMA Winner, multi-platinum, producer/artist — Producing Eminem’s comeback single “We Made You” reaching top 10 on the US 100 Billboard charts, also working with Neyo, Joe Budden, Max B, Wu-Tang Clan, and more. His creativity and exposure in the music industry deliver over 20 years of experience to the BeatBind team.
Beat Bind Whitepaper to know more about our platform.
Beat Bind Pitch Deck for Quick overview.
Here is how you can reach us:
BeatBind website
BeatBind LinkedIN
BeatBind Medium
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