FLUXORIN - Decentralized Music Streaming Platform On The Blockchain Network

A decentralized system for the publication and consumption of music, combining a cutting-edge crypto currency provided with a very important mission of unlocking the potential of human creativity (artists) to inspire and be enjoyed by billions of Fans.

The Flux Token is an attempt to harness the blockchain technology to solve the problem of artist royalties and payments by providing transparency to the complicated chain of rights ownership and usage in the digital distribution of music, as well as offering a new model of the music creation process via the Decentralized Autonomous Labels.

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Fluxorin as a decentralized platform has a lot to offer in revolutionizing the music industry as a whole.

These include:

Transparency
Use of DLA which helps in distribution
Low operational cost
Proper allocation of royalties
Use of P2P file sharing and delivery network
Employing the sharism model

Due to music pirating, record companies are losing money and many artists believe that this is indirectly forcing record companies to be more hesitant to take on new talent, preferring to stick with the talent they have to dodge their losses (Valisno, 2009). Research done in the Chicago Journal titled Do Artists Benefit from Online Music Sharing concluded that “consumers are more likely to sample first rather than directly purchase” (Gopal and Bhattacharjee, 2006). This implies that sampling is the future to music sales and can be used as a “truth-revelation mechanism” to determine how a consumer values a piece of music. It was found that the more the consumer valued the artist, the more beneficial music sampling of that artist becomes for them. If the consumer has relatively little vested interest in the artist though, that sampling can turn into decreased revenues for that particular artist and label because of pirating. The gravity of this music stealing has forced the authorities to become involved in attempts to bring a stop to this uncontrollable theft. Organizations like the Recording Industry Association of America (RIAA), the Digital Media Association (DIMA) and the National Music Publishers’ Association (NMPA) are actively searching for ways to combat this threat to the music industry. For example, in the RIAA mission statement they mention that they “work to protect intellectual property rights worldwide and the First Amendment rights of artists” (DIMA Press Release, 2008). In attempts to act upon their promises, RIAA has begun to initiate lawsuits against people that are illegally downloading music. The association stresses the fact that if you steal music online, you might as well just go to the store and steal and actual CD because the difference between these two choices is non-existent. Another interesting aspect of music sharing and illegal downloading is how it has affected a songs survival time on the music charts. A study done by four college professors called The Effect of Digital Sharing Technologies on Music Markets looked into this very topic. They predicted that with the emergence of file sharing, well-known artists would decrease in popularity (which they refer to as “the dilution of the superstar effect”) and newer artists would emerge from below to produce chart hits. What they found was slightly different than what they expected. The study showed that sharing has relatively little effect on top albums and their survival on the charts. Smaller, lesser-known artists on the other hand, are hurt from this sharing and experience less sales than before P2P sharing was developed. Because of this, minor labels are looking for ways to use file sharing as a beneficial tool to “popularize their albums” as opposed to hurt their sales with pirated music downloads (Gopal, Lertwachara, Marsden and Telang 2007). This love-hate relationship, along with artist’s desire to enhance their “digital relationships” with consumers is all part of the new age of music, something that is just on the verge of being explored.

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