IEO in the Bears: Voice Street plays Music NFT in Metaverse_Research_Home

Author | Spike

The Music Metaverse Raceway is coming to life, with the recent debut of Voice Street at BitCoke being the most recent development.

Tonight at 8pm, Voice Street debuted on the BitCoke exchange, and as of press time, its token, VST, is up 12 times.

Since last year, dozens of music-NFT startups have secured early funding, including a16z-led ventures such as Royal and Sound.xyz. Overall, these funds are focused on seed rounds, demonstrating the industry is still in its infancy; Web3 is iterated with NFT as a linear solution for streaming, trading platforms, creative, and copyright.

Voice Street, which is committed to bringing music to Web 3.0, has designed a variety of products, such as the Music NFT platform, Metaverse concerts, Musician Live House virtual space customization, and music-related games, maximizing the utility of NFT in Metaverse foundational elements, enabling Web 3 iterations of music operations and fan economics across the spectrum, from creation, trading, copyright, revenue to user engagement, fan engagement, and user engagement.

Voice Street has also logged into the BitCoke Launchpad and finished their IEO subscription. As of the time of publication, 7,266,981.6 COKE had been donated (1VST = 0.2264 COKE).

The Primedia will publish an article regarding the Music Metaverse Project, Voice Street, in the context of the convergence of music NFT and Metaverse.

Creator Rights

Explore the 3D star stage of Music Metaverse

The new business model of Web3 creators is the initial driver of institutional competitiveness in the digital music market.

There are many problems to be addressed in order to find a new model for the web3 creator economy. These include massive manipulation of data, copyright infringement, the absence of standardization, and unequal resource distribution.

The digital music industry's expansion has been impeded by these obstacles:

Music industry organizations such as talent agencies and music rights organisations are largely fragmented and ineffective, failing to protect the interests of creators and listeners.

The low cost of supplies, machines, and venues contributes to widespread abuse in digital music copying.

It is difficult for independent musicians to profit from the creation of music; copyright issues and the development of a music-sharing system must be improved.

Voice Street solves the disadvantages of these traditional music tracks by expanding access to music IP and generating revenue through the horizontal and vertical development of music products and IP musicians, beginning with the creators' investigation of new economic models.

Voice Street makes it easier and more accessible for musicians to immerse themselves in the realm of music web 3.0 than traditional music companies.

Voice Street's Web3.0 Music infrastructure enables musicians to release NFT works, take part in IMO, and get initial funding for the release of their music.

Join Live House's online concerts and the DAO community to engage with fans in a variety of ways and increase your fame and fan base. Voice Street musicians will earn additional money (extra web3.0);

Simply releasing NFT does not provide musicians with long-term, reliable revenue. Voice Street is more concerned with the in-depth creation of music content, attempting to maximize NFT copyright value and NFT owner equity by diversifying the value of music IP obtained from music from production (NFT distribution trading platform) through distribution (IMO) and future operations (Metaverse concerts, Metaverse music games, customization scenes, music-maker DAO fan community).

Voice Street is intended to be a digital asset through which musicians can monetize their digital music output in both directions, with the goal of establishing a multimodal approach to creators' equity. Using digital IP content as a key digital asset via blockchain assists musicians in monetizing, managing, and distributing their music throughout the process.

Every future celebrity will be created as a 3D avatar in Metaverse, according to Said Allen, head of product at Voice Street, who described this as the final stage for future creators. " The digital music industry is heading toward a hybrid, interactive development model in which copyright is formalized, content is diversified, and fans engage in social activities. "

Voice Street's objective is to develop a blockchain infrastructure for Music Web 3.0 that enables multiple extensions of music-IP derived value via the development of a chain of music rights, artist-related IP, music-derived NFT, NFT Gamefi, and Metaverse, thereby resolving the issue of single, monetized access to music-IP cash.

Figure source:《Voice Street whitepaper》

The platform focuses on digital music creation, storage, distribution, trade, and the development of IP derivatives and fan operations, integrating blockchain veracity, smart contracts for copyright transactions, digital content storage, and fan economics. The framework's scalability, interactivity, performance, and security are emphasized by the layered and modular design of its technical structure.

Figure source:《Voice Street whitepaper》

As depicted in the diagram, the platform's eco-technology architecture is a collection of blockchain modules and their associated peripheral eco-components, based on the structural design of the user layer, voice street service layer, blockchain core layer, infrastructure component layer, and public service layer.

Voice Street focuses on supporting creative indie musicians and music upstarts by assisting them in integrating online communities, offline shows, and personal brands to realize fan cash, value growth, and content innovation for the pan-entertainment digital music ecosystem.

The Voice Street project team is formed of Silicon Valley serial entrepreneurs and former Warner Music executives with years of experience in music distribution operations, copyright protection, game development, and pioneering expertise in music IP and musicians' resources.

Believe, a renowned music rights operator, Music Factory Goal Music, MOST, STUDIO 25, and entertainment firms in New York, Northern Europe, and Hong Kong are current project partners. Celebrity musicians with 30 million plus 2 million to 5 million fans have joined Voice Street Metaverse Concert to stage their own shows.

Voice Street has also assisted seven international musicians, such as K-pop singer Kevin Shin, Top 100 DJ 22 BULLETS, Top 100 DJ Pink Panda, Top 100 DJ KAKA, Malaysia's Eric Moo, Rapper 8UK, Rapper Long Zeyu, and others, in launching seven successful IMOs.

The musicians and institutions that cooperate with the platform have millions to tens of millions of fans and a large following of their own, making them simpler for people to comprehend and interact with than other blockchain projects.

Focusing on creators' rights is the cornerstone and soil of the Voice Street layouts Metaverse, which aims to advance artists' economies.

User Growth and Earnings

New functionality for IMO tokens governed by the DAO

IMO tokens are new features with which Voice Street intends to build a world-class system for user growth.

In the artistic community where Voice Street resides, the greatest challenge is converting Web2 users to Web3. Voice Street attempts to maximize consumers' "senseless use"

IMO (Initial Music-Copyright Offering) is a blockchain-based solution for the music industry that pushes the concept of "initial music-copyright release"

Prior to Voice Street, blockchain technology in digital music was predominantly employed as a payment settlement method for digital music. The homogenized tokens FT, which are based on the Ethereum Network ERC20 standard, are used to settle digital music outcomes, allow tracking of circulation addresses and quantities, and indicate solely credit and token worth. Since then, three phases of music digitization have occurred:

Phase 1: Payment Settlement and Release Resource Exchange for Digital Music

Using the NFT to represent unique digital asset values.

Phase 2: Operation on the chain of key rules

To ensure fairness and openness of digital music laws and output logic, write digital music distribution agreements and copyright arrangements into the blockchain in the form of contracts.

Phase 3: Mobile listening to digital music

Finally, digital music will be chained into a single action. The chain environment is where all of the digital music's logical code is executed.

Digital music has completed the initial blockchain chaining after a three-stage spiral, but its activities require an integrated operating environment with trustworthy, efficient, low-latency, and lightweight user nodes. In the industry, no definitive technical answer exists.

Voice Street has experimented with this by deploying its own solutions on Ethereum Square, Binance Smart Chain (BSC), and Polygon, which provides cross-chain functionality:

Provides a lightweight, full-node environment;

The service stack operates in a blockchain environment;

Music player as one of node infrastructure;

Joint development / debugging environment for interactive interface;

Digital music code (contract) is executed by a secure virtual machine controlled by a music player.

Earning, an innovative IMO token feature, came to take shape as a result of Voice Street's technological solution. Fans can pledge IMO tokens to support their favorite musicians and receive additional VST tokens through Earning. The platform intends to increase the rights of music's most devoted fans, encouraging them to receive incentives by supporting musicians with IMO tokens.

Figure source:《Voice Street whitepaper》

Through staking, IMO asset owners pledge assets with royalty qualities to a specific earning pool. The profits from IMO copyright activities are returned to the pledge pool once operating expenses have been removed. The objective of the platform is to maximize the value of IMO music rights and IMO owners' rights.

In the tokens economy model of VST, tokens are awarded through a predetermined earnings pool. The distribution ratio is decided by the type of IMO token support pledge, revenue, fan power, and number of participants for each pledged IMO output. The greater the fan reward, the longer the pledge.

On the Voice Street platform, there are two primary revenue streams for IMO products.

The first component of Voice Street's Earnings is comprised of revenue from streaming platforms, movie and TV licensing, performance and secondary creative rights, and KTV licensing of MV.

VS Boosted APR is comprised of music items sold by IMO and the majority of Web3.0 revenue outside the traditional music industry, including but not limited to NFT licensing sales, music rights licensing, and Voice Street platform subsidies.

What music fans receive is a weighed income comprised of both. Voice Street has now enabled Earning for two IMO items, and further Earning pools will be activated in the near future.

Voice Street's ambition has always included the creation of a DAO organization to bring new strength to the Ark of Panda through the Exciting DAO concept, fostering more direct and engaging ties between artists and fans. Musical artists and platform fans plan to develop a DAO universe-based music server and a specialized group of musicians to communicate with the music industry during the coronavirus era.

Under web 3.0, create a new interaction between fans and idols.

The platform intends to establish Voice Street DAO as a conduit between fans and musicians. Through participation in Ark of Panda's meta-universe, sufficient VST and PT are produced to submit suggestions to the Voice Street DAO. By participating in Voice Street DAO, fans can influence future Metaverse concerts as well as VIP time, content, and structure.

In terms of DAO administration, Voice Street expects that all tokens in circulation in the Metaverse of Ark of Panda will be able to vote on the Voice Street DAO's governance depending on the proposal's contents. These features will be implemented once approved. Vote on how to optimize the value of Voice Street DAO, raise income for artists, fans, and investors, and drop PT at random.

Voice Street DAO is anticipated to become one of the primary battlegrounds for fans to influence their celebrities outside of reality. In addition, fees from these meta-cosmic asset transactions will be put into Voice Street DAO so that community activists can develop other music-related proposals. Voice Street DAO's principal goal at present time is to encourage the music industry to reap the benefits of blockchain and Web3 by giving Ark of Panda gamers, musicians, and fans with gaming NFT deals, IMO, online events, and more.

Voice Street, which has a large fan base, as well as more than 50 investment agencies and communities from the United States, India, Vietnam, Russia, and Indonesia, such as Huobi Ventures, Shima Capital, AU21 Capital, Hotbit Labs, Dragon Roark, RedLine Dao, The Founder of NEO, and others, are among the idea's supporters.

Voice Street has 46K+ Twitter followers, 51K+ Instagram followers, and 36K+ Telegram subscribers at the time of publication. The network hopes that the new functionality of IMO tokens under DAO administration will become a tangible guarantee of user growth and revenue, preventing the future blossoming of Metaverse music rhythms.

VST + BitCoke IEO

The Tokenomics of Metaverse Music

"If IMO is the spiritual vehicle for the platform to deliver value, then VST is the physical vehicle for NFT product launches. " This is how the head of Voice Street explained the cornerstone role of VST to The Primedia.

Figure source:https://www.bitcoke.vip/launchpad

IEOs are not new, but in weak markets they are uncommon. IEOs (Initial Exchange Offering), which stands for Exchange Initial Offering, is a crowdfunding event that is initiated by an exchange and is easier for users to participate in than ICOs, as they do not need to manage chain transactions on different chains and wallets, but rather operate on an exchange account. Additionally, it is more secure because the exchange will endorse the initiative and provide a greater level of support. IEOs provide a direct user base for a project seeking to generate funds, allowing it to cut the cost of its external marketing channels and concentrate on product development.

The BitCoke Exchange Initial Coin Offering is highlighted by the Voice Street Project's VST token, a redeemable asset for the sale of Music NFT items on the Voice Street platform.

Figure source:《Voice Street whitepaper》

According to Voice Street's Project White Paper, the VST is applicable to a variety of real-world circumstances. As Labs committed to delivering music to Web 3.0, Music NFT products are accessible on the Voice Street platform via VST. The Copyright Revenue Pool, Ark of Panda Metaverse Games, Live House online concerts, and NFT-enabled goods will all utilize VST as a pricing and exchange medium.

In particular, the following assets may be dispersed among NFT assets using VST:

Digital Music Rights Project-based assets (including standardized digital music works, demos, samples, vocals, and custom digital music works) and related entities.

NFT portfolio based on digital music works and their own traffic and associated categories, by recognized professional users (including indie musicians), distribution firms, independent music studios, and KOL from the professional music community.

Users of the platform produce popular goods and valuable assets.

Figure source:《Voice Street whitepaper》

The network anticipates that the token system would encourage additional content providers to join the ecosystem. It also expects that fans, not just customers but also investors, will participate in content development in order to reap the benefits of digital assets. In the future, VST can also function as an interactive drain on fan spending and community governance, such as assisting stars in reaching the top of the charts and developing derivatives, and as an interactive bridge between creators and fans.

Metaverse & NFT Music

Copyright Value Transfer in the Context of NFT-FI

The non-homogenized token "NFT Music" becomes an alternate ticket to the "music-Metaverse" in the music vertical circuit.

As an indivisible, irreplaceable, and one-of-a-kind digital asset to music, Music NFT has the same ownership as the tangible. When an individual possesses NFT music, it is regarded as a physical representation of physical music ownership. All purchase data, transaction data, etc., are transparent and tamper-resistant in real time. The original copy of a physical musical work is the one containing the NFT identifier, regardless of how many copies are made. All information with NFT can be independently mediated and freely traded without the need for a central broker.

As a result of the rapid advancement of technology, the music media is undergoing profound transformations. From sheet music sales circa 1880, to the creation of the phonograph and vinyl, to the period of tape recorders / cassettes / CDs, to the iPod-led MP3 of the 21st century, this article traces the evolution of the music industry. The album format is shifting toward singles, while the listener base is shifting toward fan economics.

With the advent of streaming, the music industry's business model entered the "streaming age," which includes music streaming, data streaming, live streaming, and short video.

Figure source:《Voice Street whitepaper》

According to the International Federation of the Phonographic Industry (IFPI) Global Music Industry Report 2020, the global music industry reached $20.2 billion in 2019, marking five consecutive years of growth. Streaming has performed well, contributing more than 50% of 2019 revenue for the first time, and it is foreseeable that streaming dominated digital music will continue to be a mainstay of the music industry in the future, spurring greater dynamism in the industry.

If streaming provides a source of living water for the Music-Metaverse, NFT Music is a proto-rock thrown into Metaverse, creating layers of virtualization.

Phase 1: The rock band King of Leon released a new album, "When You See Yourself," in the form of an NFT, causing the first ripples in Metaverse.

Phase 2: Musician 3LAU releases first NFT album Ultraviolet, spawning Metaverse second wave

Phase 3: Linken Park founder Mike Shinoda has launched Ziggurat, a music NFT series of 5,000 mini mixtapes featuring unique music and covers that wave through Metaverse.

Not to be outdone, major musicians across the country are jumping on the NFT bandwagon.

Jay Chou releases NFT album and joins forces with celebrity chef Zhencheng Jiang for Michelin Yuan Cosmos event.

Enon Jing supports push for NFT project Theirsverse to open first NFT casting.

Peng Lei, lead singer of New Pants, will release the NFT series Peking Monsters.

Simultaneously, performers like Addo and Robin Hu have created NFT albums, and numerous music rights platforms have launched NFT-exclusive sections to promote the acceptance of immersive music experiences in a meta-cosmic setting.

Fueled by the rapid growth of AR / VR technology and 5G networks, MusicNFT is growing savagely.

The most significant use case for NFT at present is the online preservation, dissemination, and accumulation of artistic works such as music. Some projects have begun to investigate NFT-FI, mostly through the use of NFT as collateral, NFT fragmentation for distribution, etc.

On the Voice Street platform, regular people can participate in the Voice Street Eco via NFT, play Metaverse games, or attend concerts to interact with their favorite celebrities.

Voice Street's Ark of Panda is an invitation-only music meta worlds game that may be instantly accessible by purchasing a limited edition of NFT or a music subscription. Platform musicians join together to play for their dreams, not only for online concerts but also for globe tours and chart releases.

The usual gamer assumes the role of a music-obsessed young guy who buys an instrument and goes on a musical adventure through a virtual world where, by bettering himself, he can eventually form a band with like-minded friends and begin pursuing his aspirations. Through music festivals, jobs, concerts, and livehouses, players can connect with players from over the globe.

Additionally, peripheral derivatives will be featured on Voice Street. "For instance, the instrument PT VST is always accessible for payment."

As the central theme of the entire Metaverse universe, the game will be interwoven with important core modules such as music festivals, concerts, livehouses, and Metaverse customization, providing a platform for users to benefit from time and space tunnels.

In the present bear market, where reputable projects are limited and ICOs are troublesome, the selection of IEOs on the CEX platform reduces risk, enhances security, and breaks the curse of inadequate regulation.

During the first installment of BitCoke Launchpad, which concludes on April 7, 2022, RIV has raised a total of 2,000,000,000 RIV. This is an example of success. As of press time, the second installment has raised 7,266,981.6 COKE (1VST = 0.22642 COKE).

Tonight at 8pm, Voice Street debuted on the BitCoke exchange, and as of press time, its token, VST, is up 12 times.

Initiating IEOs during a bear market demonstrates fortitude. Voice Street revelers think that VST will give bear markets and hodlers hope and faith in the music-Metaverse.