Re: [ANN] UMC | Underground Music Coin | Supporting Musicians, Promoters and Venues
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“Your project has identical ideas with Viberate project. “
Bakasabo, I appreciate the interest and questions. Also, thank you for the tip about the copper membership/pay to play option. I assumed the feature of posting pictures was unlocked based on Member status. Here’s my take away from the Vib site and what they do. If I've mischaracterized any of their features, please comment.
- Artist, Festival and Events Directory which is crowdsourced/curated by its users.
- A provider of Artist's Statistics from various streaming platforms.
- They have a how to section w/ 12 articles on how to be successful on social media
- They are not a social network/platform.
- They are a for profit site that generates revenue via paid subs and as a middleman connecting artists with venues.
Here's what sets UMC apart from VIB and all other Music related tokens:
UMC's Echonomics
10% funded via donation per UMC transactions.
3% Reflection/Redistribution to token holders.
7% Artist Foundation wallet
Currently, VIB is trading on avg $1MM/day.
UMC would generate $70k/day into our Artist Foundation wallet to be used for:
Artist development and support for top-ranking/selected artists on the EchoUnderground Platform which fund:
- Music Production
- Music videos
- Marketing
- Merchandising
- Legal Support
- Monthly Coin Redistribution to top ranking artists on Echo Underground.
Promoter and Venue Support:
- Top ranking venues/promoters and events will receive Talent Budget/Grants.
Reflections: We'll use VIB's movement for the example: Of the 1MM/24h volume, $30k/day would be redistributed to the holding members of UMC (weighted).
The Echo Underground Social Platform:
- EchoUnderground Profile Pages (Artists/Promoters/Venues/Fans)
- Various Community Pages, News, Stats, Howtos:, Articles
- Search Platform
- Voting System; Ballots, Stats, Results
- Merchandise
- Artists driven, not profit driven Music Sales Platform. What does that mean? It’s simple. 80% of sales goes to the Artist and 20% is donated back to the Artist Foundation Wallet to help develop and empower the community of Artists in the EchoUnderground
Our echoSystem was created by a lifelong Underground/Indie artist who also started the 2nd Dance music download site in 2004-2009 and first online to sell high quality WAV files to DJs.
$VIB appears to have been created by someone with an analytics driven background, not a musician. Who do you think understands what an Artist needs more? A number cruncher or musician/label owner who’s experienced decades of highs and lows of the music industry.
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They raised soft and hard caps, released their platform, got listed. But, I cant say that they are very successful and demanded. Even though they have a huge funding. While you don’t even have money to buy cooper membership to make your pictures visible here. Do you really think that you can compete with such a giant?
Again, our model is very different than VIB's. We're just getting started. Watch this space!
As for your copper membership comment, I have more loose change in my car to cover that cost.
