3. Problem Statement
● The music industry has long been plagued by issues of centralization.
● Major record labels and streaming services control the distribution and
monetization of music.
● Artists are thus dependent on the major record labels.
● Users are limited in their access to new and diverse music.
● This is how few players hold a disproportionate amount of control and
profit.
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4. Objectives
● To empower artists by creating a decentralized platform that enables them to upload and sell their
music directly to fans without intermediaries.
● To create a more direct and transparent way for fans to support their favorite artists and discover
new music.
● To disrupt the centralized music industry by introducing a new model that leverages blockchain
technology and direct-to-fan distribution, creating a more equitable and inclusive ecosystem that
benefits all stakeholders.
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5. Working of our proposed Music Player
● Artists upload their music to the platform and set the price and revenue-sharing model for each
song or album.
● When a fan purchases a song or album, a smart contract is executed on the blockchain network,
which automatically distributes revenue to the artist according to the pre-set revenue-sharing
model.
● The blockchain network also records ownership and usage rights, ensuring that artists are
compensated fairly for their work and that fans have a clear understanding of the terms of use.
● The web application provides a user-friendly interface for artists to upload their music, fans to
browse and purchase,and for both parties to track their transactions and earnings.
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12. ● Decentralized music distribution: Direct-to-fan distribution model without intermediaries such
as record labels or streaming services, providing a more equitable and inclusive ecosystem.
● Secure and transparent transactions: Blockchain technology ensures secure and transparent
transactions, creating a reliable and immutable record of ownership and usage rights.
● Direct-to-fan revenue sharing: Smart contracts automate revenue sharing between artists and
fans, enabling artists to receive a greater share of revenue and fans to support their favorite
artists directly.
● User-friendly interface: The platform provides a user-friendly interface for artists and fans to
upload, browse, and purchase music, making it more accessible and easier to use for all
stakeholders.
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FUTURE GOALS
● Making of a test script to deploy our smart contract
without interacting with the hardhat console.
● Generation of code connection stages on ganache.
● Vmware usage on berlin,mumbai test net.
● Making of an interactive frontend and two more
backend components