Hello everyone, in this article I will discuss about projects that are sting other than usual because the project that I will raise in this article is about decentralized radio broadcasting with Blockchain. This project is MFTU.
What is MFTU?
MFTU stands for "Mainstream For The Underground", a media that utilizes the performance of the Big Book (Blockchain), in order to control the dual token economy for radio and its artists.
This project aims to protect the development of music in the future, because of the rampant piracy and also the multiplication of legality, making the sadness of the people who work in the music field worse. This project provides a permanent resolution to the gaps that threaten the future of the music industry.
MFTU background!
The internet and mobile devices have changed the development of music in broadcasters throughout the world. In the spread of the extent of the music creation of an artist or musician, there is a payment method commonly called royalty through government intermediaries as a reward or appreciation for the performance of music or creations they have displayed.
In its development, this method is very traditional because in addition to involving third parties, all royalties are not conveyed to artists or musicians. In addition there are many obstacles such as the law that regulates.
Therefore, the MFTU project created an online royalty payment model that uses blockchain technology placed on a decentralized ethereum network. For the smooth running of this project, the MFTU is supported by double tokens called "CYFM" (CyberFM) and "MFTU" as tokens rather than the MFTU itself.
Why is Blockchain?
Blockchain is the right choice for MFTU projects because with decentralized ledger capabilities it can be relied upon in the distribution of royalties for the smooth running of the ecosystem that MFTU wants to build, besides Blockchain has been tested for safety, efficiency and transparency since it was first introduced in 2008.
CYFM and MFTU tokens
Before discussing the details about tokens, in this project the planned CYFM and MFTU tokens will be used as a universal payment instrument that is accepted internationally and will be closely monitored. But this token does not have the profit and success role of the Cyber FM company and also this Token is not sold on the CyberFM site or in other words there is no Initial Coin Offerings (ICO).
CYFM Tokens are crypto currencies that will be addressed to artists, namely a form of royalty to support the creativity of local and newcomers artists or musicians.
While MFTU tokens are tokens that are similar to CYFM but are equipped with copyright protection devices that are truly fair, honest and have legal compliance. This token has utilities used all over the world.
Smart Contract MFTU and CYFM tokens will apply the ERC-20 standard using OpenZeppelin libraries that have been tested and reviewed as well as thoroughly audited by professional experts in Quantstamp.
Utility Tokens
CYFM tokens and MFTU represent "broadcast currenccy" that will be used in the ecosystem for listeners, fans, and users.For example, listeners can win MFTU tokens in radio contests, they can use tokens to register as premium members, download, commercial free flow, and other benefits.
MFTU and CYFM tokens will initially complete fiat payments for online radio membership, in-app purchases and also registration fees. For further developments these two tokens will be used to create a universal payment ecosystem that allows royalties for all types of performances at any time and in any country.
Project progress
Progress reports or developments in this project I took directly from the official website here: https://mftu.net/site/progress/and here is the information that I summarized in my article:
Business plan
This company is 10 years old and stands independently. In addition, this company also has major investors and consistent income every year.
User Base
If you have not become a fan, you better visit CyberFM soon! Then download the application.
Customer base
One reason for this project: CyberFM became so overwhelmed by the many artists.
Cellular Application
Available on the Google Play Store and of course the Apple App Store.
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Special wallet (wallet)
Register our wallet in Hexel. You get additional benefits because you can spend tokens there too.
Online Merchant
Already functioning! CYFM and MFTU tokens can be traded on multiple Exchange, here is the Exchange list for these dual tokens:
Soon!
Release!
Soon!
Release!
That is my review of the project from the MFTU, here I attach links and info related to this project for those who want to find out more. thank you for reading my article and hopefully useful!
Info:
- Website - Whitepaper -
By : Dewi99
Profile :https://bitcointalk.org/index.php?action=profile;u=2296534
ETH : 0xB05CBa02ab79fF5AA5AF650D49bD6B325dfD797F
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