RECORD FOUNDATION
THE BEXT GENERATION REWARD-BASED MUSIC PLATFORM WITH ETHEREUM
The RECORD Project is attempting to re-create the economics of the music business in favor of the artist. By using the blockchain and the RECORD (RCD) token to measure and reward an artist for the use of their work, RECORD Foundation can be one of the first companies to succeed in removing the 16th Century system whereby an artist gives up most rights to a publisher and instead becomes their own publisher. Artists will be able to track where their music is being played and calculate the amount of usage and get paid.
ABOUT RECORD FOUNDATION
RecordFarm, a decentralized platform based on Ethereum, is a blockchain-based music platform that rewards content creators with RCD tokens relative to the amount of ‘likes’ or ‘voting’ the content has received. RecordFarm plans to build the world’s first reward-based music platform service for artists who have not only struggled to post and share music, but also to receive fair compensations for their work.
The reward system is in based on blockchain technology. Transparency is ensured, as all activity is recorded and made public on the blockchain, which cannot be hacked or altered. This nature of blockchain ensures that the artists’ works are recorded safely on RecordFarm’s platform. Compensation on RecordFarm is based on RCD tokens which are immune to exchange fees which plague non-cryptocurrencies internationally. Thus, no matter the number of countries served, we do not need to establish local currency conversion contracts which skim from total profits. Operating expenses are further reduced by the blockchain’s burden sharing system. By spreading the data from a decentralized server with cryptocurrency miners, costs of operating RecordFarm’s servers and resources are greatly reduced. All the savings from these harnessed innovations will be returned to our artists and listeners.
Another core feature in the RECORD Ecosystem is the roles listeners play. Traditionally, listeners acted exclusively as consumers by forking over cash whenever they downloaded music or subscribed to a streaming service, but in this newfound RECORD Ecosystem, listeners can also be compensated. Audio consumers often devote their time to curation activities, such as sharing and voting on music. This crowd behavior directly evaluates the competitiveness and value of the music content. We believe that this interaction between listener and content fundamentally encourages good music that the people want. For this elemental reason, we hold that it is only fair that we reward any listener who acts as a ‘Value Co-creator.’ In this sense, RecordFarm is not just any run-of-themill platform. It is the next generation music platform that emerged as a solution to the problems rampant in unfair profit distribution that characterizes the traditional music industry.
Honest and astounding rewards for creators and listeners – RECORD Foundation is on its path to build an unprecedented music platform.
WHY IS RECORD SPECIAL?
VALUE CREATOR (ARTISTS)
RecordFarm uses blockchain technology to protect the rights of its valuable artists. Unlike the lack of copyright management and unclear profit distribution in the current music services, RecordFarm ensures a clear profit distribution and transparent transactions between the artists and listeners by enabling direct transactions in the absence of an intermediary and recording copyright information on the blockchain ledger permanently.
Artists are also rewarded for posting and sharing their music. Listeners can interact with the artist’s music and every interaction creates a monetary reward for artists in the form of RECORD (RCD) tokens, giving the artists a direct payment and incentivizing them to produce higher quality music. The more popular the music, the more RCD tokens received.
VALUE CO-CREATOR (LISTENERS)
RecordFarm revolutionizes the traditional music service platform by rewarding both artists and listeners. Listeners pay a small amount to consume music, but they can be compensated more than what they have paid. This is because listeners spread the influence of music by interacting with the music in the form of voting, commenting and sharing. Based on their level of contribution, listeners are rewarded with RCD tokens, which can be used to purchase music and other related goods.
Our goal is to create an active and a rewarding platform, where listeners are compensated fairly for their contributions that increase the value of our platform.
VALUE CIRCULATORS (INVESTORS)
Based on RecordFarm’s expertise for the past three years, an attractive and competitive blockchain-based platform will be built that will increase the investment value. The RecordFarm that we are envisioning is a powerful platform that strongly motivates both artists and listeners to use the platform. To further spread our influence, we will expand RCD token-based services, eventually constructing a RECORD token economy. With this, we will greatly heighten the value of our RCD token.
RECORD (RCD) TOKEN
RECORD token is the cryptocurrency of the RecordFarm platform. The artist and listeners will be rewarded base contribution on the platform. this reward system using record (RCD) token to incentive the artists listeners.
The artists will rewards by creating the music (More popular the music, More RCD token will received) and listeners will rewarded by interacting with the music. Also RCD token is — as a global payments system for transactions of music or other related contents worldwide, is planned to be used for services not only limited to RecordFarm, but also for concerts, tickets and related goods with API.
ICO DETAILS
PreICO 04/15/2018 – 04/22/2018
ICO 30/04/2018 – 06/30/2018
Ticker: RCD Token
type : ERC20 Price of the token on ICO: 1 RCD = 0.1 USD Purpose of fees: 150,000,000 RCD Total tokens: 300,000,000 RCD Available to Token Sale: 135,000,000 RCD Accepted: ETH
DISTRIBUTION OF TOKENS:
DISTRIBUTION OF FUNDS:
ROADMAP
2015
- Launched Recordfarm 1.0; Began first round of funding; Embedded social networking service.
2016
- Won the best Korea database prize; Awarded top 3 best music app in Asia by MWC Asia.
2017
- Selected by facebook as its startup partner; Recommended app at Google Play; Launch Recordfarm 1.4.
2018
- Whitepaper 1.0 release; establish record foundation in Singapore; Press Release; Launch Recordfarm 1.5; Whitepaper 1.5 release; Open ICO crowdsale; Establish Contracts with world-renowned coin exchanges; Expand team; Create record wallet 1.0; Establish record token algorithm.
2019
- RRS algorithm in machine learning; Global Partnership; Launch Recordfarm 20 BETA; Global marketing, PR and sales campaign; Extend blockchain technology to the real world; establish further contracts with world-renowned coin exchanges.
TEAM
Harrison Shin- General Manager
Moon Heo- PROJECT MANAGER
Sunah Son- DEVELOPER
Dahye Jeong- DEVELOPER
Jinhyuk Kim- DEVELOPER
Heewon Lee- Designer
Kh Choi- DEVELOPER
Alex An- AMBASSADOR FOR EUROPE
Geumbin Lee- AMBASSADOR FOR ASIA
Alexander Perez- AMBASSADOR FOR AMERICA
ADVISORS
Keith Teare- COFOUNDER OF TECHCRUNCH
Richard Kastelein- FOUNDER OF BLOCKCHAIN NEWS
Minhwa Lee- PROFESSOR OF KAIST
Junic Kim- PROFESSOR OF KONKUK UNIVERSITY
MORE INFORMATION VISIT THE RECORDFARM LINK:
Website : http://recordfoundation.org/
ANN Thread : https://bitcointalk.org/index.php?topic=3331502.0
Twitter : https://twitter.com/recordfarm
Facebook : https://www.facebook.com/RECORDFoundation/
Telegram: https://t.me/RECORD_Foundation
Bitcointalk Profil: https://bitcointalk.org/index.php?action=profile;u=1229230
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