imusify, a decentralized music sharing platform, public token pre-sale went live on March 1st. The project plans to launch the general public token sale beginning April 1st. On March 5th, the imusify met the soft cap of US $1 million for the private sale of the IMU token.
Since NEO News Today last spoke with imusify in April of 2018, the team has been building upon the incentify smart contract, which won the 2nd place prize in the first City of Zion dApp competition in November of 2017. The incentify smart contract enables users to upload an audio file, undergo a voting process, make comments, and earn IMU tokens. The smart contract powers the user rewards distribution system, which according to the GitHub “enables listeners and artists to earn IMU tokens simply by creating, streaming and curating music.”
The development team places a high priority on the simplicity of the platform and its seamless integration with blockchain functionality. CEO David Walters said the user onboarding process for imusify is “like signing up to any other platform, but with the difference that you immediately start collecting funds to your wallet simply by interacting.”
The simplicity of the platform lies in its functionality as users do not need to install Chrome plug-ins, purchase IMU tokens beforehand, or create their wallet. NEO wallets have no cost for new users, Walters states “this isn’t possible yet with most other leading blockchain technologies. Free transactions and free wallet creation are also very beneficial as we don’t have to charge the user and can offer it for free.”
Additionally, imusify is developing an intuitive crowdfunding feature that seeks to offer artists an avenue to raise capital themselves and manage their funds. The crowdfunding smart contract has been developed and is now running on TestNet.
In describing the ecosystem, Walters said, imusify strives to ”integrate the best practices of copyright management, crowdfunding, streaming, media sharing, sync licensing, concert ticketing and social networking; in which the artist, fans, industry professionals and other stakeholders can directly interact entirely peer-to-peer within a decentralized marketplace, governed by smart contracts.”
The imusify platform is currently in private testing, with participants using the system and reporting bugs. Walters noted imusify “receive[s] emails with positive feedback every day.”
A demo of the imusify platform showcases various features such as profile management, browsing through music, and user playlists. A link to the demo can be found below:
Partnerships and Activities
Currently, New York University (NYU) and imusify are partnering on strategy development efforts, which are anticipated to soon expand into other programs at the university. Walters said current efforts entail collaboration with “Dr. Rosemary Fitzgerald and her awesome graduate student program with which we are developing and executing key marketing strategies.”
Walters also highlighted the NEO Japan tour last summer, which included the Switcheo and O3 Labs teams. He stated, “we had the honor of going on tour with Miki Hayama of NEO Japan / NEO Global Development through Japan where we visited multiple tech companies like Yahoo, universities like KEIO University and presented imusify as a use case at many conferences from Tokyo to Fukuoka to Osaka.”
imusify’s pre token sale is currently live and offering a 30% discount on the purchase of IMU tokens. A total of 100,000,000 IMU (10% of the total token supply) are available for pre-sale distribution.
The pre-sale will remain ongoing until the allocation is sold out or until April 1st, at which point the main public token sale begins. The public imusify token sale is set to end on April 30th with a hard cap of US $25 million.
Participants can contribute to the token sale with NEO, BTC, or ETH.
Following the token sale, IMU plans to list on Switcheo, Spotcoin, and O3 Wallet. Future exchange listings announcements are forthcoming.
To participate in the token sale, visit the following link:
Post token sale, the imusify development team seeks to deepen the logic of the platform, redesign and rewrite the front end stack, and improve overall UX.
The project’s roadmap includes a September 2019 launch for a minimum viable product (MVP) and a November 2019 launch for the launch of v1.0 of the imusify platform.