BitChord ICO details
Start Date: 2018-4-11
End date: 2018-8-27
- Category: Entertainment
- Token: BCD
- Platform: Ethereum
- Type: ERC20
- Initial price: 1 BCD = 0.21 USD
- Tokens for sale: 67 100 000
- Accepting: ETH
- Soft cap: 1,800 ETH
- Hard cap: 110,000,000 BCD
BitChord – GET PAID TO PLAY GUITAR
BitChord is a global solution that simplifies music content distribution and puts power back in the hands of guitar players and their fans. The platform uses its own BitChord Tokens (BCD) as its primary currency, and both guitar players and users earn BitChord Tokens automatically as part of the platform’s buying/distribution process.
BitChord reduces costs and puts all revenue in the hands of guitar players for the original content they create, upload, host and sell in the BitChord’s Marketplace. At the same time, through automation and better data moderation and management, enabled by blockchain technology and machine learning, BitChord creates a database of high-quality content that users are interested in and will pay for.
By enabling direct artist-to-consumer engagement and commerce, BitChord not only eliminates intermediaries and makes the process of getting paid for playing guitar possible, but strengthens the traditional music industry by making it more efficient and transparent for guitar players as well.
Built on the Blockchain, BitChord gives guitar players complete control over their content and engagement with users. The zero-fee platform allows them to create, upload, host and sell original content, including video performances, video lessons, original tracks, tabs in electronic format such as GuitarPro files, backing tracks, full albums and keep all profits from their work. Each registered guitar player has his/her own profile page on the platform and space in the BitChord Marketplace, where he/she can sell their content.
At the same time, users who have purchased BitChord tokens can buy original content, rate the content they have purchased and/or viewed and tip their favourite guitar players. To incentivize users to contribute to the growth of the BitChord platform and its population with high-quality content, they will get rewarded with tokens for rating the content uploaded by guitar players. This rewards-based system will enhance fairness and transparency while ERC-20 token authentication for each transaction on the platform and location security check will eliminate information asymmetry and fraud.
Once a member of the platform, both guitar players and users will be able to transact directly and with zero fees. They will also actively contribute to the quality control of the content uploaded and shared on the BitChord platform and marketplace. This multi-dimensional ranking feature will drive the platform to become more social while preventing misuse, fraud and abusing the system.
The biggest incentive for the widespread adoption of the BitChord platform is the monetization of user activities that sees people get paid for rating the content they view and purchase as well as their contribution to its moderation, thus creating a database of high-quality guitar playing materials. Additional benefits from using the platform include target ads by partner music equipment retailers who will offer special discounts for BitChord registered users.
Guitar players, on the other hand, will have the opportunity for the first time ever, to receive all profits from the content they create, host, share and sell on a music distribution platform. They will be able to directly engage with their target audience and get rewarded in tokens for it. They will also be able to earn a 20% commission through our affiliate program for partner music equipment retailers on every referral sale made through their profile on BitChord.