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In 2016, growth in streaming revenue achieved a staggering 60.4%, now making up 50% of the total recorded music revenue worldwide. Whilst the likes of iTunes and Spotify explode in streaming volumes, this success often surpasses the actual artist, profiting cliques of powerbrokers through clandestine backroom deals. As an evergrowing share of artist’s income derives from touring and events, intermediaries have caught up and plagued the simple process of ticketing into an extortion scheme victimizing artists and fans. Soundeon presents a step-by-step solution to not only invigorate the music business with fairness, transparency, trust and independence but unleash the value potential of merging recorded music and ticketing into a transcending fan-centric experience.
This is the world’s first vertically integrated blockchain solution that transcends digital multimedia distribution and live event ticketing. Based on the proprietary Ethereum-based protocol, Soundeon utilizes its registered Creative Smart Contract to create a trustless and transparent music rights management and ticketing environment that addresses the long-standing problems plaguing performing artists and fans alike.
ICO Investment Advisory
Rated on Jun 26, 2018
Modified on Jun 26, 2018
No competitive analysis or business planning numbers in the WP. Looks like the team does not have proper experience in fundraising and investment planning. The tokenomics is not convincing as well.
With respect to your second point articulating the lack of fundraising experience of the founding team. I would like to highlight that our CEO and CVO are Managing Partners at an institutional hedge-fund. Our other founding team members also have fundraising experience. For instance, our Head of Business Development was responsible for fundraising for the largest IPOs in Russia and CEE at Sberbank CIB. To be specific, IPOs like that of Tinkoff Bank, Megafon, and the Moscow Exchange.
Your feedback was very valuable in enhancing our whitepaper and better articulating our vision. Thank you for this and I hope that your rating reflects the latest available information.
Rated on Jul 9, 2018
I would say the product is not unique and has been successfully done by others already. The team doesn't seem to have a background in the music industry on top of that. WP leaves a lot to be desired. Lastly, not sure if this requires blockchain technology.
Rated on Jul 9, 2018
Small group of team members and advisors too. Although there are elements that need to be addressed carefully, the concept does sound good, but not sure if and how successful it will be in the long run. Good luck Soundeon!
Rated on Aug 1, 2018
VISION: An interesting idea to bring fans and musicians closer together, but by no means is this a unique vision. The project has potential but would need to create a strong customer base and beneficial partnerships, which may be difficult in such a competitive industry. Mid-marks are given -- I would need to see more market research and competitor analysis in the white paper to see how a competitive position may be maintained. 3/5
TEAM: A fairly small team that appears to be lacking in music industry and blockchain experience which, particularly regarding the music industry, would make it very challenging to succeed. I notice one of the advisors has links to TIDAL, although the success of that service is itself, open to question. Some of the team members need to update their LinkedIn profiles. It is noted that the team is mostly based in Russia but has links to other countries. 2/5
PRODUCT: The MVP is accessible and the white paper is acceptable for this stage of the product but it may be useful if more information was provided on competitor analysis. 4/5
Guys: As ever, please feel free to get reach out if you feel I have missed anything critical.
This is not an invitation to invest. ICOs are risky and you may lose everything you put in.
Rated on Jul 4, 2018
Modified on Jul 4, 2018
Whitepaper has substantially improved since the revision. The team seems to have sufficient experience in fundraising, as their former positions within the HF industry signal.
All in all a project with potential. Wish you the best of luck.
Rated on Jul 13, 2018
Modified on Aug 6, 2018
Every project than makes easier, cheaper and safer any industry process, I like it. Ratings Soundeon has a strong team with experience in fundraising and each important point of the project.
But, always there is a but, the way to get his goals is one of the hardest possible. The music industry is huge, powerful and strong. I don't know if they will lose any portion of his cake without trying it and fighting.
Rated on Jul 6, 2018
This project is not so unique, several others has already created a platform such as this and similar, which is already operating and been in business for several years now, also the team has nothing to do with music industry, other projects has a team which workes tens of years with big names in the music industry, and they find it hard to increase the value of their token and the demand, so how will it be for a project that has a team that knows nothing in music industry or at least most of them? I think this project has a big chance to fail, and less than 5% chance to succeed, and if it succeeds it will need more than 5 to 10 years of hard work and dedication, if it will survive in the current competing market.
Rated on Jul 6, 2018
Modified on Jul 6, 2018
Nowadays it isn't enough to make a beautiful website and promise something in the future.
Now, to become a successful project and receive necessary investments it is important to:
- Innovation level - incremental - ➖
- Show the MVP (product, prototype) - Not clear ✅
- Strong Competitor analysis ➖many competitors
- Core Team ⚠️and not multi-position team
- marketing ICO budget ❌
- Events calendar ❌
- have agreements with exchanges ❌
- Business revenu Forecasting ❌
- show ROI to investors ⚠️
- have max. transparency ✅
- have legally protected product ✅
- work actively with the community ✅
- have a powerful team and advisors ➖
- meet investors F2F ⚠️
- have a descriptive WP (with clear financial model). ⚠️
✅ Agreements with exchanges. We have a signed agreement with Bancor stating that right after the token sale, Soundeon token will have its relay hence providing secondary market liquidity on the Bancor network. More exchanges will be announced in the weeks to come.
✅ROI can be found in our deep-level financial analysis in the Appendix of the WP and on the Token Sale site we have the Peer Token Analysis (URL: https://soundeon.com/Peer-Token-Analysis.pdf)
✅Business revenue forecasting can also be found in the WP Appendix, take a look, please.
✅Descriptive WP with a clear financial model is on our site. Don't miss competitor analysis in Appendix 3 and the comprehensive financial analysis with revenue forecasting in Appendix 4. Totalling 64 pages, our WP is extremely thorough.
✅F2F is essential to a successful blockchain startup. This is why our core founders are engaged in dozens of F2F meetings on a weekly basis. If you would like a F2F, just PM me.
✅Our core team and advisors come from diverse backgrounds, experts in their own respective fields. From MTV and Eurovision award-winning musicians to MIT and Stanford professors, we have undoubtfully the very best team.
In light of this information, I hope you update your score to reflect this valuable information. Also, please visit our site for more information, our telegram is open for comments or questions. Again we can do a F2F, just let me know your availability. Thanks!
Rated on Aug 30, 2018
What is it?
A decentralize music platform.
Why this idea can work or why it might not work (it depends on how you see it)
An artist is like art, the value depends on the fans or buyers. This is why packaging is extremely important for an artist which is why crap singer like justice beavers can be so high earning.
When it come to the new age, social media become a new packaging tool and social interaction become the key to many successful marketing campaigns.
1. Lack of funding mech for lesser known artist
a. While this is true, again it is like art, a nice art might not have value, an ugly art might have value because people think it has value. Many singers on the streets can see way better than justice beavers but they only got coins throw into their bowl. So big players would continue to support those hyped artist because they know the singer is hyped.
b. When it come to using the crowd or fans to support the artist it could work because fans are being interacted to work for the artists. It’s the magic of social interaction.
2. Music right
a. Might be a problem, but since there are legal teams to handle this, this is not really a pain problem that is dying to be solve
3. Non transparent
a. This is a problem but is also an advantage because only then with such non-transparency can artist, music companies and royalties company play unfairly to gain advantage, this is the same like the art industries where prices are manipulated via fake biddings, control buying etc.
4. Live and recorded music
a. They have been separated since music begain, I see no need for them to be combine, if I wish to watch live I watch live, if I wish to watch recorded I buy the records
b. Ticket scalping and fraud is an issue, but again it is out for long and people seem to already deal with the pain
c. Also for ticket scalping and fraud there exist already other BC solutions
Seriously lack of BC expert, a bit lacking in technical experts, and seriously if this is music business why do you not already have expert in music here?
There are already few BC and non BC solutions for all the problems you mention above, so how can you do better.
Product, well there is a roadmap and an MVP
Rated on Jul 17, 2018
There are many music focused tokens that are aiming to solve the problems that are present in the music space. This project seems to be one of the more promising projects in respect to utilizing blockchain to engage and incentivize the audiences of aspiring artists, while providing a platform for the artist themselves to capitalize on the 'crowdfunding' aspects of Soundeon. The vision of this project is big, but with the right partnerships, endorsements, product development and user base, it has the chance to become a player in the music industry that is ripe for disruption.
Rated on Jun 26, 2018
The whitepaper does not cover some key issues for me. There is no real marketing plan although it has to be said they are very active on socal media. I have also seen some of the team members at event around the globe. We also do not see competitive analysis in there so how can I tell if you have done your research.
The vision is looks good though and it would seem the target audience is in 2 sections. Fans and Musicians. I can see how blockchain can help bring artists and fans closer. I just cant understand why there is a need for a token.
Overall - Missing components should be added to the WP. While application of blockchain technology in the Soundeon project is justified, there is no clear evidence that internal tokens are necessary.
Thank you for your feedback and insight. After listening to you and the rest of our community, we have updated our whitepaper to include the competitor analysis and the financial model in Appendix 3 and Appendix 4 respectively. Be rest assured, we have done our homework. We have added these details to the whitepaper to help the reader to make the best well-informed decision.
To answer your second point, the need for the Soundeon token arises from both legal and financial aspects. Namely, our Soundeon token and whitepaper have successfully undergone a rigorous legal opinion review by Hedman Partners. Hedman is a Legal 500 law firm based in Estonia and advises Y Combinator firms and leading blockchain startups. Because of the legal nature of future royalty payments in EU law that directly affects our Music Token Sale and Soundeon Exchange layers, it was advised to take a conservative stance and have our own payment mechanism token that could be used to purchase the MTS tokens.
Financially, the Soundeon token constitutes a more sustainable platform payment mechanism. For instance, the reduced transactional cost is vital for our royalty micropayment feature on the Music Token Sale layer. Another example is the use of payment channels for our Soundeon Player layer. Our Content Subscription Channels™, based on Poon-Dryja payment mechanism, allow for pay-per-play accumulation without incurring prohibitive transactional costs. As you see, without the use of the Soundeon token, a number of key competitive features would not be executable.
I hope that this reply addresses your questions and your updated rating reflects the latest information. Thank you.
Rated on Aug 20, 2018
This platform will create a "Chicken and Egg" scenario where unless the founding team has an extremely large network of successful musicians to bring fans into the platform-- it won't work. I think the concept is great, but I doubt execution will go as smoothly as planned.
Rated on Jul 18, 2018
Modified on Jul 18, 2018
A team of essentially fund managers with no real experience in the music industry at all.
The description is basically a bunch of buzzwords that don't make any real sense as to what they're trying to do. Looks like some form of music smart contract and copyright agreement?
Neither of these require this platform. And your other ticket sales, you need massive music touring companies to be on board to even get that off the ground to get any traction whatsoever - and that requires prior experience and relationship in the industry, which this guys do not have.
Plus, most of this has been tried by others to varying degree of success already.
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
TeamApply as an advisor
Head of Product
Strategy & Development
Head of Partnerships
Head of Marketing
Securing a pre-seed investment round (US$ 600,000) from a Singaporean venture fund
Platform alpha version launch
Soundeon Token Sale
Beta version launch
Token Sale for all users launch
Full compliance with regulations Soundeon
Exchange layer launch
Soundeon Tix layer beta version launch
Soundeon Monitor launch
Fully working platform
Soundeon Protocol launch for External Services