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
