Our goal is to raise 35 million EUR in ETH through this ICO. The Soft cap is 500,000 EUR which will cover the approximate expenses for one project. The more we raise, the more songs and videos will be created, resulting in bigger profit sharing for investors. The exchange rate that will estimate the final number of ETH needing to be raised will be established two days before the start of the Whitelist sale. Since we are already an established company, we do not need funds to build any infrastructure. The capital raised will be fully used to cover expenses of song creation and marketing related costs to optimize profitability for our investors and artists. We anticipate the funds to cover the direct expenses of approximately 40-50 projects, depending on the artists and related marketing efforts.
As a main component of our ICO, we offer investors up to 30% profit sharing. Our approach is fully legally compliant and allows eligible investors to participate in the profit sharing opportunity. Prof- its will be directly linked to the songs created as a result of the ICO. Profit sharing percentages and amount invested will be clearly stated in the Investment Agreement which will be signed by every participant. The Investment Agreement will remain valid from the end of the ICO until June 2024. In the first year, revenue sharing is paid out quarterly and annually thereafter.
Dench Music targets to generate on average, based on industry standards and on past experience, between 500% and 1000% profit (5x to 10x the invested amount) per project. We anticipate the vid- eos will garner anywhere from 100 million to one billion views per video in its first five years online, supported by a comprehensive marketing strategy, we believe most of the views will occur in the first eight months. For investors, as we said, Dench Music will distribute 30% of any realized profits, pro- vided the hard cap is met.
The percentage of hard cap fulfillment will determine how much profit will be shared with investors. For example, if the raised amount is 80% of all ETH, the percentage of profit sharing to investors will be 30% * 0,8 hard cap fulfillment = 24% of profit sharing among investors. Contributors will also receive 2,500 free MIC Tokens for every ETH contributed (MIC tokens are fully functional ERC20 utility tokens) through a smart contract. Among other uses, the MIC Tokens can be exchanged on the Dench Music Retail platform for exciting and unique music industry opportunities. These services will be published on our Dench Music Retail platform which runs on the Ethereum blockchain. Purchas- able services and goods, depending on the artists in the project, can include meet and greets, presence on the set of the video shoot, star wardrobe auctions, extra position in a video clip of the star, concert ticket discounts, VIP events invitations and much more.
Investors can invest in ETH. The hard-cap is in EUR and therefore the conversion rate to ETH is yet to be calculated. The conversion rate will be calculated two days before the start of the Whitelist sale to limit the potential effect of course fluctuations. An average conversion rate of these two days will be calculated and will be announced on our social channels.