Platform for global music producers with a focus on K-Pop
K-Tune is a platform as well as a community for musicians all over the world to collaborate and freely express themselves. It is your gateway to becoming a K-Pop producer.
K-Tune aims to bring musical talents together for an exciting and profitable music-making endeavor.
K-Tune Masters are current and former professional producers affiliated with K-Tune whose role is to provide help to users in the music-making process.
Users can share their work with the Masters to seek advice or for collaborations.
Arena is an open market where all users can sell their work – track, topline, instrument arrangements, lyrics and so on.
Furthermore, users are at liberty to set their own price and control licensing rights.
On Arena, once a user buys content from another user, she can freely use it to complete her song.
On Camp, all users can open a camp to find a partner to collaborate with.
The selected partner receives a bounty and a share of the completed song.
Blockchain is Reshaping the Music Industry
The music industry could benefit hugely from the advent of blockchain. The technology could improve royalty distribution, prove creators’ rights, improve delivery and access, and reduce costs.
Like many sectors, the music industry is seeing the first applications of blockchain to its administrative and sharing processes. For musicians and their audiences, this could translate to better creation and enjoyment, and procedures which more fairly reward artists for their efforts.
Digitalization has already delivered new opportunities for music production and sharing over recent decades. Artists from all over the world can work together on a single track and today, there are often as many as ten or more contributors to the creation of a single tune.
But, how is the work of each contributor recognized and recorded effectively? Along with issues of rights and intellectual property, there is also an issue of middle operator costs.
Agents and record companies have often taken a disproportionate cut of the revenue. Today too, music platforms and distributors take a significant percentage of artists profits.
The secure, immutable, and trustless nature of blockchain technology could make attributing work to musicians and artists more accurate and effective. And, blockchain technology opens up new avenues of sharing and distributing music to listeners which could better record its patronage and distribute resulting revenues. Musicoin, for example, is a blockchain platform where users “pay to play” but can also build their own music distribution network for rewards.
New blockchain platforms could more effectively reward both musicians and music fans, cutting out some of the monopoly held by traditional high-cut middle operators. Inmusik is another new platform where music fans can invest in a track or an artist that they believe will be popular, earning monthly pay-outs based on any subsequent success.
Furthermore, blockchain’s smart contracts are arguably more difficult to tamper with or falsify than any other type of record. This makes them an increasingly popular choice for recording legal agreements and contracts.
As a blockchain’s distributed ledger can be transparently shared in real-time with permissioned participants, it’s far easier to monitor these contracts. In addition, one can follow what happens to music that is hosted on a blockchain platform.
Artists can more clearly evidence any claims in a dispute. This clarity could help to overcome the challenge that in 2017, only 12% of the total revenue from the music industry went to musicians themselves.
It could also mean that artists and any of their collaborators are rewarded faster. UjoMusic is just one blockchain startup planning a decentralized database of rights ownership.
Not only can putting music and its rights on a blockchain to avoid disputes between artists and agents, but it can also help prevent music piracy. That’s due to blockchain being secure against hackers who wish to act illicitly.
And, as with financial transactions on a blockchain, when applied to music too, the technology has no geographical borders, increasing access to content. A blockchain’s distributed ledger means the information it holds can be hosted on computers around the world. This decentralization can mean less censorship or regulatory restriction and greater community control. Of course, decentralization still holds the ongoing challenge of how bad actors and content are managed.
K-Tune, building on Korea’s K-Pop phenomenon, is building a blockchain platform where artists around the globe, new or already established, can collaborate and have their work attributed. Musicians can sell their skills or find help with their creations.
Budding musicians can also use the platform to sell their collaborations to major record labels with the help of experts and the security of a blockchain record. The K-Tune platform uses an ERC-20 token, KTT, for all transactions and rewards.
Another such platform for collaboration in creating music is Aballoon who are also working to securitize music royalties, creating music backed securities for open trading.
Blockchain could improve the production, administrative, and delivery systems of the music industry. So, what will this mean for another sector that is part of our daily lives? Blockchain could enable better-paid artists, give us more diverse music, better entertainment, and the offshoot economic and social benefits.
The ICO of K-Tune, a collaborative platform for musicians and producers, will be launched soon on Eidoo.
The platform will be global, dedicated to all music producers in the world, but with a particular focus on K-Pop, the dominant music genre in South Korea.
K-Tune will allow musicians and producers from all over the world to collaborate and express themselves without restriction, allowing anyone to become a K-Pop producer, for example.
The idea is to bring together musical talents and produce music, also thanks to the so-called K-Tune Masters, which are actual producers and former professionals affiliated with K-Tune who will assist users in their music production process.
Platform users will be able to share their work with the Masters and ask for advice or collaboration on the music, lyrics, choirs, mixing, etc.
The platform will also have an open market where all users can sell their works: it will be called K-Arena and will allow selling not only songs but also individual tracks, such as melodies, arrangements, lyrics and so on.
When purchasing content from another user, users will be able to utilise it as they wish to complete their own pieces. In addition, users will be free to set their own prices and control license fees.
In addition to K-Arena, there will also be K-Camp, which is a section where users can search for partners to collaborate with, and with whom to share any income from the sale of songs made together.
The whitepaper mentions that K-Tune wants to become a platform where professional and amateur musicians can meet and work together to write and produce popular songs for the market.
The token used within the platform will be KTT, which will be used as a means of payment to use the K-Tune services. Users will be able to buy KTT directly on the platform, or through exchanges.
The initiative is designed for all artists who wish to use their talents to produce content and trade it with other artists, with the objective of bringing their work to the market and earning money, especially in the growing K-Pop market.
Among the Masters, there are professional trackmakers, songwriters and sound engineers who have considerable experience in the production of K-Pop songs, including EXO, TWICE, IZ*ONE, GOT7 and Beast.
The platform also provides a fair and transparent distribution of royalties, something that today is hardly guaranteed in the industry. K-Tune’s copyright monitoring system is based on blockchain technology and allows full real-time monitoring of all activities on the platform. This feature also eliminates possible disputes between artists and distributes copyrights in a fair and simple way.
The roadmap foresees the launch of an ICO but the date hasn’t been revealed yet. However, the platform will already be launched in August 2019, before the ICO, in order to achieve greater market penetration.
In November the KTT token should be listed on various exchanges, while in February of next year the first K-Tune test for the X-Pop should be launched in Ho Chi Minh, thanks to a collaboration with KCI Group.
Exclusive: How is Blockchain Disrupting the Music Industry Globally?
With the widespread of blockchain technology used in different industries in the past decade, Sean Jong from K-Tune in Korea explains how blockchain can address the current pain points in the traditional music industry. He also explains the role of blockchain in royalty distribution and copyright infringement!
What are the pain points in the music industry and how can blockchain be used to solve them?
There is a range of areas that blockchain technology can help improve the music industry. For instance, reducing transactional costs in the conventional and traditional music industry would be a major improvement. In the traditional methods, if you want to make music, you have to meet professionals from the industry and settle on the royalty shares. For instance, if I were more involved in the development of music then I would claim for 80% of the shares while the other party gets 20%. In the process of doing this involves a lot of intermediaries such as copyright agencies or even lawyers.
Thanks to the nature of blockchain technology, it would be very difficult or virtually impossible to infringe or manipulate data; therefore you will not need to use intermediaries as you can settle and write the division of shares and consensus with other parties on the blockchain.
What is royalty distribution and why is it important?
There are two phases, the first phase of royalty distribution is when they're making music together, they have to reach a consensus of the division of shares. In the music industry, it is hard to pinpoint, you know, who's your, what's your job, and what's mine. Roles in the music industry are quite arbitrary and hard to pinpoint from the royalty shares perspective. In short, the first stage is to make a consensus between artists.
The second phase is when the music is being sold and release that how to collect the royalties, from streaming companies such as iTunes, Spotify, Pandora or Melon in Korea. Blockchain technology has not been yet adopted around the second phase. A solution has not be found for the second phase but we can take care of at least the first phase of royalty sharing because between artists they must come to a conclusion or a consensus of who owns how many shares. Once they have reached a consensus, conventionally, they have to go to an authority or intermediary and report it. With the use of blockchain technology, artists involved will be able to come to a consensus and write it on the blockchain, and that’s the K-Tune solution.
How are you encouraging more artists to use K-Tune and how has it been adopted in Korea and across the world?
In Korea, it is at a very nascent stage and not many people know about blockchain technology nor do they understand it. Since I am representing K-Tune, I believe it can be one of the pioneers who can spearhead the market awareness and public education of what blockchain is and how blockchain can disrupt the creative industry. I believe the awareness and the level of understanding will keep growing, we have just started our first step, not only in Korea, but also worldwide.
By Matthew Lam Jul 25, 2019
How Blockchain Is About To Change The Music Industry
We hear music every day, we dance to it and sing along with it. Music moves us and even defines our mood and the ambiance of the space around us. But do we know how it is made? Writing music was indeed literally writing music notes on a manuscript, but this practice is now long outdated with modern technological advancements which have made musical endeavors accessible to more people. Today, all you need is a laptop and the relevant software.
The shift in music-making from analogue to digital has changed the music scene significantly in a permanent manner. With increased accessibility to music-making thanks to the digitalization of music production, competition is fierce with more players in the market due to the lower threshold. Thousands of songs are released daily with more and more musicians seeking to make it big in the pop scene. In this competitive environment, a trend has emerged in the music industry for survival and a greater chance at success: collaboration, with not just one, but up to a dozen artists.
Hit songs such as “Despacito” by Fonsi, “thank u, next” by Ariana Grande and “Boy With Luv” by BTS were written by at least five to almost a dozen writers at most. These writers each specialize in a certain part of music-making – creating the track, writing the lyrics, adding the top line or melody, and engineering. The fierce competition has led to this division for specialization in the music production market, and writers hone their respective skills and talent to increase competitiveness.
However, collaboration has its own problems and limitations, too. Writers and artists rarely collaborate outside their tight circle – resulting in the ‘cartelization’ of the industry – which means that amateurs barely get a chance to have their work heard. Even if they do get a break and sell a song, the royalty distribution is grossly unfair. Aspiring songwriters and producers continue to moonlight as waitresses or valets. Without the right network or a brilliant chance of fate, they cannot expect to benefit greatly from their musical talent.
K-Tune, a company founded by a financial specialist, a serial entrepreneur and a renowned K-pop producer, has created a platform of the same name designed to overcome the prevailing issues in the music-making industry. And the key solution is blockchain technology.
As the name indicates, they focus on K-pop music production, and how artists from all over the world can contribute to this musical and cultural phenomenon that has previously taken the form of Big Bang, PSY and, now, of course, BTS. On K-Tune, users can find partners to work with, open projects and purchase components of a song – track, melody, lyrics, vocals and so on – that best complement theirs. It offers amateurs a chance to work with professionals, and established writers, with fresh talent and sound. The synergy is augmented by a team of popular
K-pop producers and writers called ‘Masters’ who offer guidance and help throughout the music production process from engineering to sales. They are also available for collaborations themselves for higher quality projects. These K-Tune affiliated ‘Masters’ have experience producing songs and selling them to major K-pop performers including EXO, TWICE, IZ*ONE, GOT7, and Beast.
“K-pop has moved beyond Korea and an increasing number of global musicians want to get involved,” says Dawn, music producer and co-founder of K-Tune. “But it is not easy for non-Koreans to overcome the language barrier and geographical difficulties that entail collaboration with multiple parties.” He explains that K-Tune breaks such barriers and ensures fair profit-sharing. “Anyone with talent can team up with another talent, sell their work to a major record label and get their fair share of the profit through our platform.”
Providing a virtual ubiquitous studio, blockchain-dependent examples like K-Tune expands opportunities for collaboration outside the boundaries of existing networks within the industry and highlights the importance of seeking talent rather than name value.
Ilker Koksal Contributor
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