Harmosic - Unfold Your Dreams in Music [NFT Market]

Name of Project

Harmosic

Proposal overview

Project Summary

Harmosic is a decentralised NFTs Marketplace launching on Harmony for musician to create and list their works as NFT, and audiences can patriciate in the auction to buy and sell music. Also, we will be a decentralised streaming platform for musicians to earn back what they deserve without being exploited by the music giants.

Introduction

The music industry began its streaming-fuelled recovery around five years ago. The song writing and publishing communities have been protesting the uneven payment structure of streaming, which sees recorded-music rights holders being paid three times what publishing is paid and the music industry’s imbalanced power and payment structures. In recent weeks, this situation has been thrown into dramatic relief by the formation of the songwriters’ group the Pact and its calls for artists to stop demanding credit and publishing income for songs they did not write. Still, the organization’s founders also say that it is just the first step in a music economy that has tilted against the people who create the very foundation of that economy songs.

A growing trend in the music industry is the rise of NFTs (Non-Fungible Token). A transaction using NFTs allows the audience to participate in auctions for unique content from the artists they love because these are new developments, and only time will tell if NFTs are here to stay. Crypto transactions are secure, instant, and eliminate the middlemen, making NFTs enticing artists and fans. In these exchanges, artists can raise money for the content they auction off and keep all of it because these exchanges don’t involve a record company fan pays the price to get a unique piece of content. The artists collect without having to split with anyone else.

The constant evolution of digital technology in the broadcasting and entertainment industry has resulted in a substantial increase in the capacity of transmitted bandwidth. It has enabled many more services, improved coverage, and better picture quality for content globally.

Executive Summary

A project plan is vital for success irrespective of the industry. Research has shown that projects that carry out adequate, intensive, and proper planning have a clear picture of their operational activities, organizational structures, market outlook, and whole other stuff tend to succeed more than those that do not. Studies have also found that most projects fail during their early operations because of an unclear roadmap for their project. So, as the cliché goes, “Failure to plan is planning to fail.” and guides Harmosic to undertake a variety of extensive research cumulates to become its proposal.

The rising of blockchain technology significantly impacts the current centralized society, and the centralized society is always taking advantage and credit from the music creator’s original content. And by using blockchain technology and NFT can highlight the creator’s intellectual property rights, originality, contribution and indirectly provide more job opportunities and their reputation. Harmosic is a standard music platform for music creators (including everyone who has contributed to creating the music, like editor, producer, musician, and singer). Music industry giants like Spotify, Universal, and YouTube Music exploit independent music creators and underpaying musicians. And Harmosic is here to provide a fair and equal platform for musicians to continue their unique and extraordinary works without being exploited by these giants.

The co-founding team has the right experience and exposure to transform the goal of the platform and brand into a great project. Also, We intend to collaborate with other partners to be part of Harmosic success. We want to provide a fair and equal platform for both music creators and audiences. So that everyone will be able to join and create within the platform for free. We will ensure that we hold ourselves accountable to the highest standards by meeting our community’s needs precisely and completely. Harmosic can provide a virtuous circle for the music creators and their community to directly earn back their hard work, eliminating the middle man.

Also, Harmosic will provide cross-the-border communication and creativity to improve the overall music creation. Harmosic believes in building lifelong relationships, strategizing solutions for growth. We sustain to improve network and communication performance with long-lasting, distinctive, and substantial solutions. We believe in performing the best and delivering maximum leverage to our clients, building a brighter future – together.

We will carry out essential marketing strategies proven to boost Harmosic publicity and awareness to ensure the necessary awareness and advertisements for Harmosic around Web3. We will implement digital methods and conventional strategies in reaching our target audience. We will fully utilize social media platforms and leverage search engine optimization.

A key factor of Harmosic is that we shall not handle with levity is community’s satisfaction. We will ensure the highest quality of services at all times to meet or surpass our community expectations. We will ensure that every audience needs and requests are duly and correctly understood to enable us to understand the best angle to come in and offer our services.

Vision

To create a platform for musicians to realize their dreams and potentials

Mission

To enlighten, encourage, entertain, educate, and change people’s lives through our music platform to all music dreamers.

Value

Culture

Each year, the world becomes more interconnected as people share culture, engage in global commerce, and develop friendships with people from different backgrounds. We practice equal opportunity without regard to race, religion, colour, national origin, gender, sexual orientation, age, disability, or veteran or marital status.

Integrity and Ethics

We believe in doing the right thing in an honest, fair, and responsible way. Trustless and transparency are basic expectations of our community. We are committed to ensuring all the resources are used in the right way and for their intended purpose.

Unity and Economic Growth

We believe in community prosperity. Harmosic’s success is based on the quality of our services and community. We believe in working together with openness, honesty, and respect.

Why Harmony?

Harmony is an open and fast blockchain that runs Ethereum applications with 2-second transaction finality and 1000 times lower fees, also Harmony has trustless bridges that provide cross-chain assets to Ethereum, BSC and soon other chain like Polkadot. And these factors have made Harmony the best blockchain for Harmosic.

Objective

The goal of every project is to be successful by success, it means a large community base, constantly increasing patronage, and hence, rapid growth.

  • Launching a NFT marketplace for ERC-721 in music format.
  • Music streaming platform.
  • Monitor and secure the smart contract and platform.
  • To make dreams come true.

Key to success

Optimal success for any project is a consequence of several positive factors. For us at Harmosic, achieving outstanding success is our biggest priority, and several deliverables that will contribute dearly to the project’s success and growth must come are

  • Landing page
  • NFT marketplace
  • Metamask connection
  • Profile
  • Artist Collection
  • Search and filter
  • Bid, Auction and sell
  • Favourite
  • Recent activity
  • Price history
  • Comment
  • FAQ
  • Apply to launch NFTs
  • Social Media
  • Streaming app
  • Discover
  • Trending
  • Artist
  • Album
  • Genre
  • Favourite

Team summary

Having the proper project structure is very important to us at Harmosic. Therefore, we have laid the appropriate foundation to ensure we stay true to our core values, mission, and vision as a whole. We will source competent professionals who are diligent and faithful to work ethics into the various positions in our project.

Our core mission is to provide an excellent platform to our audience that is well accepted now and whose acceptance and use will continue to grow at an accelerated rate into the future. We are sensitive to our community’s needs and dedicated to their satisfaction. Our platforms will identify with our aims, goals, objectives, and mission and know what it takes to take our project from where we are at present to where we intend to and should be in the future. We will also have the expertise required to work in this industry and bring it to a standard envied by our competitors.

Ching and Daryl co-founded Harmosic. Ching is also a Harmony validator known as Wubba.one and Daryl with ten years experience in the music industry. The Co-founders of Harmosic are a loving and hardworking group who loves to create and motivate, ready and prepared to harness all strength to make the service available at all fingertips.

Harmosic has the capacity and desire to create value for everyone through collaboration and by motivating and taking action while providing support and guidance to achieve great success. Co-founders are optimistic with commitment and functional. The project’s activities will reach its target market and fulfill its mission and objectives of the establishment.

Proposal ask

Harmosic is looking to apply a grant under the guideline of 500 Launches ($20M) for a $50k equity-free contribution each:

  • $10K after launching a feature-complete product on our testnet
  • $10K after forming a DAO with 5-out-of-9 multisig with our DAOs
  • $10K after launching on our mainnet with audit
  • $10K after 1K daily active users (with launch video, full PR promotion)
  • $10K after 10k daily active users (with a detailed roadmap, governance process)

SWOT Analysis

The SWOT analysis includes the Strength and Weakness possessed Reigning Star and the Opportunities and Threat we face as challenges as we go into day-to-day activities and operations.

Strength

  • United and active team
  • Committed workforce
  • Product quality is high standard
  • Competitive system for easy and quick market penetration.
  • Our unshakable plan to create a business model that attracts prospective audience
  • Light weight and flat hierarchy resulting quicker decision making

Weakness

  • Building a cycle of community may take time
  • New business in an area dominated by competitions
  • Growth may be slow due to the presence of giants in the market
  • High existing workload
  • Low brand awareness

Opportunities

  • Opportunity to operate our service that stands for uniqueness and exceptionality in our target market
  • Increase in the demand for cost-effective marketing
  • Increasing blockchain population
  • Opportunity to build dreams together

Threats

  • The possibility of other imitation
  • The need to grow rapidly over the next 1-3 years
  • The necessity to secure substantial capital injections to foster growth
  • Large competitor gets the majority of market share and more famous brand name
  • Both time and resource costs for new project development

Please see the demo of the layout for Harmosic website and logo

Updated logo design

Preview of the marketplace on testnet

External links

Prototype deployed on testnet

Twitter

Wubba.one Delegation Node

Marketplace smart contract deployed on testnet

NFT smart contract deployed on testnet

3 Likes

Hi, This is Daryl, one of the co-founder with Harmosic, I started this project because I noticed there were many music creators being exploited by the music giants.
So I wonder if we can create a Virtuous circle music platform that highlight the creator’s intellectual property rights, originality, contribution and indirectly provide more job opportunities and their reputation. Which can make the music culture great again.
I enjoy music and I love it, That’s all of the vision with Harmosic, I hope you guys will support us ,even just leave your Comment here.Thank you.

2 Likes

Hello @darylluk and @wubba.one, and hope all is well. Thanks for returning with the Harmosic proposal. Some questions for you:

  1. Do you guys have any experience in the music industry? Specifically in soliciting talent, marketing, royalties, etc.? Can you go into detail on this?

  2. Can you share with us your strategy for on-boarding artists to the platform? Currently, there are a handful of other platforms allowing musicians to upload and sell their music via NFT. What is the strategy for attracting quality artists to the platform and growing to 10,000 daily users?

  3. Where are you storing and serving the audio files?

1 Like

Hello Daniel :wave:

Thank you for your reply!

  1. Daryl has 10-years’ experience in guitar and five years of on-hand experience in the marketing industry in Hong Kong. He has been working closely with local musicians, especially underground bands. And we have a strong music network group both online and offline, that is looking for a better reward distribution platform and additional income source to support their creations. In addition, Harmosic follows the mainstream NFT platforms with 10% royalty.

  2. Harmosic is not only an NFT marketplace, we are aiming to develop a play-to-earn/listen-to-earn music streaming platform. We believed in the flow of [Artist brings creations, and creations bring audiences], and NFT Marketplace is the first step for Harmosic to get artists into the blockchain industry. To attract artists to the platform, we will be focusing on both online and offline strategies. From Twitter, discord, and partnership, to networking, speaking, and meetings with artists. As many artists do not understand blockchain technology, we will need to provide face-to-face assistance for them to get on board and build trust together. Once we have our artists on board, we will be focusing on building a community around both artist and audience (as we believe in community connection). We will set up a fans club to distribute unique NFTs pins to enhance fans’ loyalty; song charts for users to vote etc. Harmosic will also encourage artists to actively participate in the community so that artists can talk to each other and improve their creations. Once we have both artists and audiences on board in our community channel, we will then build a decentralized streaming platform. We have done short research on the current challenges in the major music streaming platforms. Both users and artists are not satisfied with their services. Artists are underpaid, the audience needs to pay to listen or listen to ads.
    You can find the research paper here
    With Harmosic, we aim to build a decentralized streaming platform that allows both artist and audience to enjoy the music while earning. We will learn from other platforms like DeFiKingdom, Mars Colony and Audius, etc, on strategies to build new functions with the streaming platform. We are in considering including token staking, NFT staking, liquidity mining, NFT as a subscription, NFT as a ticket for virtual concerts, etc. So that both artist and audience can earn basic income while using our platform, which the current streaming platform cannot provide.

  3. Initially, we planned to store the audio file on Infura, but it seems Infura does not yet have the support on harmony endpoint, so we might be thinking to switch to IPFS.io. If Infura has enabled the support for harmony then we will be using Infura for easier management.

Thank you! :smiley:

1 Like

Hey @wubba.one and @darylluk. Catching up on this proposal. Have you been able to make progress on Harmosic since the proposal was created? How many artists do you have on board for launch and who are they, how many pieces of music will they drop on the platform?

Hello @dpagan-harmony

Thank you for your follow-up, it means a lot to us.

You may see there are not many updates from the demo of the project. But over the past few weeks, we have had met many artists offline, most of them are indie musicians and bands here. We also had a meeting with someone who has worked in Sony music previously as an artist manager.

So far, we have 5-6 artists that will be joining Harmosic, and we also had another full-stack developer on board for technical improvement.

Since we have met more people in the industry and more people that are joining the project, we also formed a DAO ourselves and developed a new overall growth strategy for the project. We had found out that building an NFT Marketplace itself is not sufficient for the product to grow itself. Instead, we have decided the NFT marketplace will be one of the functions inside the project, and there will be a major function for the project.

As this is a brand new strategy that all of us had just discussed and agreed on. So, we are currently working on modifying and improving things included: white-paper, gitbook docs, landing website, as a pre-launch phase to focus on building the community and excitement for the project launch :smiley: