Dropd (DPD) ICO Review – ICO Token News
The music industry worldwide is a closed system. It is controlled by a handful of over-powerful corporations. One of the major problems associated with the music industry is that the infrastructure for paying songwriters and musicians around the world is not developed for the modern digital world.
Dropd aims to address the problems and inefficiencies associated with the music industry worldwide through the use of cutting-edge Ethereum blockchain technology, smart contracts, and social media sites such as Facebook, Twitter, and Instagram.
Dropd (DPD) analysis
What is Dropd all about?
Dropd is a decentralized music platform that is developed on blockchain technology to help musicians and artists to create, promote, distribute, and monetize their own music without the need for a record label or an agent. Users can listen to high-quality music without advertisements, commercials, or fees.
This platform is a place where good music from a completely unknown artist or a famous artist can equally rise to the top and be monetized instantly. It is a place where users determine who is popular and not music corporations. Users can participate in the success of unknown artists and musicians while rising in status themselves.
What does Dropd aim to be?
It is a patent-pending music platform where people of different ages and countries go to listen to their favorite music and discover new musicians and artists. Moreover, it will help artists to connect with each other and generate income. This platform is unlike any other music platform in existence.
The Dropd applications
This music application is a free streaming music application, which is available worldwide on Apple iTunes store. It gives users the ability to listen to high quality music, which is free from any advertisement or commercial interruption, with unlimited skipping. Signed and unsigned artists can be heard in the current version of this music platform.
It will use its own tokens to allow users to curate, consume, and promote music. The users will be rewarded with DPD tokens with this platform. The tokens will be convertible to other cryptocurrencies and ICO tokens such as Cibus, BunnyToken, Aktie Social, Alttex, THEFANDOME. Moreover, the tokens can be transferred by the users out of this application to different cryptocurrency wallets.
What problems is Dropd solving?
The majority of the music industry is still inefficient despite huge advances in global access and technology.
Problems affecting the listener in the music industry
- Streaming music radio, digital music distribution, and radio around the globe have been dominated by a few large players.
- Music applications and distribution run on the old business model, which is too inefficient to operate in today’s digital world.
- While listing to high-quality music, most of the music listeners worldwide suffer through a large number of unwanted commercials, fees, and advertisements.
- The majority of the music distribution channels and applications worldwide lack real artist/listener interactivity.
- A lack of upcoming artist discovery, social interaction, and the ability to participate in the success of the artist.
Problems faced by the artists in music industry
- A large number of talented musicians are unsigned and go undiscovered.
- There are really no practical or cost-effective ways for these artists to promote or release their music to a large audience.
- Signed artists must sell their publishing rights in part or in whole in order to release their new music.
- Most signed artists only get between 10%-14% royalty rates for their popular music.
- Artists have very little or no control over the distribution and marketing schedules of their music.
- More than 70% of the money made by the music can be swallowed up by the transactional costs.
- There is no or very little information about where the transactional cost money goes.
Solution offered by Dropd
- The Dropd platform will systematically and efficiently decentralize music distribution and promotion power in the hands of the artists.
- The user-friendly platform will enable talented artists to self-distribute their new music to a larger audience in a secure manner.
- In addition, the listeners will be share in the monetization and promotion of the music of the up-and-coming and talented artists.
This platform is built on Ethereum blockchain technology for the decentralization and socialization of the music industry, which has the potential to create an excellent opportunity for up-and-coming artists and musicians.
This platform seeks to position itself as one of the main driving forces that will lead the music industry into the blockchain technology.
Token price and token sale
The DPD token is intended as the industry standard token for use in digital music transactions. It will be used for all transactions within the Dropd application. DPD token will be built on Ethereum blockchain technology just like other popular ICO tokens such as Guardium, CryptoLoans, Ternio, BitCAD, Zupply.
- Total number of tokens generated: 300,000,000 DPD tokens
- Exclusive sale start date: February 14, 2018 and will run for 21 days or until sold out.
- Pre-ICO start date: March 9, 2018 and will run for 21 days or until sold out.
- ICO sale start date: April 2, 2018 and will run for 21 days or until sold out.
- Price of 1 DPD token: USD0.07.
- Soft cap: USD18,000,000.
- Hard cap: USD30,000,000.
How to participate in the DPD token sale
- Investors need to sign up in order to participate in the initial coin offering of DPD tokens. Click to know more on how to invest in ICOs.
- Government ID validation of the participants is essential when they are participating in the ICO sale.
- The ICO sale is not open to the citizen of the United States of America.
Distribution of DPD tokens
- DPD tokens issued for ICO: 60%.
- Tokens allocated for team and founders: 18%.
- Tokens allocated for advisors: 8%.
- DPD tokens issued for seed investors: 4%.
- Tokens reserved for future partnership: 10%.
This decentralized music platform is built on blockchain technology. It will allow up-and-coming artists to create, distribute, monetize, and promote their original music. Listeners and music artists will be able to connect directly using this platform. Users can discover and participate in this platform. It will change and eliminate an antiquated music business model within the modern music industry worldwide.