BlockTalks x Mozik AMA Transcript!

Hello! BlockTalkers & Blockchain Enthusiastic!

We recently hosted an AMA with Mozik, on May 13th at 2.00 PM UTC. Many of you might have participated or many of not. But we make sure no one missed out from the knowledge shared by Mario Lee, Co-founder & CEO of Mozik. So here we are up with the AMA transcript, for those who missed the live session, this blog post will be a saver & feeder of knowledge for them.

Introduction Questions Asked By Team BlockTalks!

Q1. Could you please introduce Mozik to our community in layman’s term?

Ans — Mozik is a decentralized music streaming platform and NFT marketplace.

We give artists a new avenue for expressing themselves and a new revenue stream. At the same time, we let fans to become more than just consumers.

When fans buy a NFT, they become an investor as well. Because they can resell it later for a profit.

So they become a participant in the ecosystem.

We want to decentralize the current music industry and make it more transparent and fair.

Q2. What are the advantages of Mozik to other alternatives in the Blockchain field?

Ans — Mozik is unique in that we are a streaming platform and a NFT marketplace. The two parts are strongly interconnected by the community and the tokenomics.

Our advantage really is that the streaming side has already been running for the last 5 years. We have over 10M+ users. This gives us a significant advantage over other marketplaces, as we are not starting from scratch.

Q3. What are the major milestones Mozik achieved so far & what are in the future pipeline?

Ans — We have already accomplished a lot since last year.

We have successfully developed our marketplace app. We have incorporated the store front, the wallet functions, and the IP NFT asset management functions. Here is our roadmap.

We are going to continue to add more functionality, forge more partnerships with artists and producers, and further develop our community.

Questions Asked on Twitter For Mozik Team!

Q1. Every musician or singer aspires to be recognized and awarded for their content. In this sense, the artists who release a musical album like NFT, could they be nominated for big awards like the Grammy, Billboard, VMA, etc?

Ans — I think if a music album or song is popular enough, regardless of the platform, the artist would be recognized.

The problem with the current music industry, however, is that they might be recognized but they aren’t paid fairly.

The majority of the revenue from music sales and streaming goes to the record labels and streaming platforms.

Artists really only make around 12% of that revenue.

This is where Mozik comes in. We want to disrupt the industry and give control back to the artists where they can decide on the pricing structures and also to help them protect their IP.

Q2. Are there really any limitations or restrictions regarding the publication of musical content? Will it have to be in a specific format or musical theme? or does Mozik really adapt to all kinds of musical content?

Ans — So the marketplace app is already ready and will be launching shortly after the IDO. But it is still a new product.

So for the first 3 months, we will be helping some of the biggest names in the industry with the minting process.

We are going with this strategy as we want to first help raise awareness of our platform and second to help smooth out any kinks in our system.

This includes figuring out all the different digital formats, the size of these files, etc.

We will take what we learn from this time and improve on our tools and minting process.

Afterwards, we will release the self-minting features onto the marketplace. So artists can do their own minting.

Q3. You point out that with Mozik artists can be well rewarded for publishing their content, but really how much can they get just for publishing their content? Can you really make a lot more profit on Mozik than on conventional social networks that provide big profits?

Ans — On the Mozik platform, artists can do more than release their content.

For example, they can raise funds by selling part of the rights of their songs as NFTs to help with their music production.

They can sell concert tickets as NFTs. With smart contracts, they can even (if they want to) earn a percentage of all subsequent resale.

Right now, scalpers make all the profits in the resale market.

Of course, artists can also release their content as one-of-a-kind or limited editions of their work.

This appeals to their fans and collectors, because of the exclusivity and authenticity.

Q4. Mozik fans actively participate on an in-depth level in the music blockchain ecosystem and they share the economic rewards of the community.Can you explain more about the economic rewards that the community can receive for active participation in Mozik?How it will be distributed?

Ans — Right, in the streaming platform, fans can collect MOS points with their participation. Such as using the app daily, recommending songs, posting comments, joining promotions, etc. With these MOS points, they can exchange it in the wallet into MOZ tokens, which they can then use it to purchase NFTs on the marketplace.

Q5. We are witnessing many projects enter blockchain industry with very good plans, promise to do good work but disappear in time and lose community So without not lose believers, how can your project survive this long and challenging blockchain?

Ans — Well, Mozik has been in operation for the last 5 years and we plan to keep on going.

We also have been very fortunate to be working with many investors and partners that believe in what we are doing. Here is the list of our investors and partners.

Our goal is not to challenge the blockchain. We are trying to solve the problems of the music industry with NFTs and blockchain technology.

Questions Asked by our BlockTalks Community Members during live Session to Mozik Team!!

Q1. You point out that you are building the largest NFT music platform in the world, but really for this you will need the support of great musical artists, right? But really Mozik already has the support and promotion of a recognized artist or band?

Ans — We have some IP and partnerships in place already which we will announce shortly around the IDO as good news. Right now we have a marketing plan where we will promote 10 music artists/producers for the first 10 weeks. Each week we will showcase one of them. This will help us iron out our system and make sure the artist get the proper attention. So please follow us on Twitter and Telegram for these announcements!

Q2. I read that MOZIK token will offer two types of music-related assets: celebrity assets and music NFTs, could you discuss extensively about these 2 assets and their benefits to users?

Ans — The NFT assets will be categorized into different content, such as music, album arts/photos, short videos, MV, and others (autographs, tickets, merch). I would say they are collectibles for fans, especially if the artists only do a limited release.

Q3. What plans do you have to increase and maintain the value of MOZIK tokens in the long term? What are the benefits of holding?

Ans — The benefits of holding MOZ tokens is that it will unlock special events, like music festival or fan club meeting. It will also unlock access to purchase rare NFTs.

Q4. Your project is a new and unique innovation for me, I’ve never seen NFT music, is this idea very attractive, you say we can listen to and subscribe to music both you provide and that of creators, will this work as Spotify that has to be paid to download or can it be downloaded freely?

Ans — The streaming platform is free to use. There is a subscription that you can opt in for additional features, like better audio quality, offline listening, added sound effects, bonus MOS points, etc. The streaming platform will help listeners to discover new artists and new songs, and this will drive traffic to the NFT marketplace when the listener sees that the artist has some NFT offerings.

Q5. How can users stay updated with this project? Are there channels, including local communities where users can get the latest updates?

Ans — Please follow us on Twitter and Telegram. There are some fake channels around. So I urge everyone to double check.

Q6. Can you tell us if you have contact with popular or Famous artist? Can you do mention who are they?

Ans — Yes I have been in the music industry for a long time. My partner and our strategic advisor, Faye Wong, is a renowned singer-songer writer in Asia. Our global spokesperson, Ouyang Nana, is a new generation superstar. She has over 23M followers on Douyin (TikTok China). We are also in talks with some really famous artists at the moment and we will announce them very soon.

Q7. Can you explain to the community how your Tokenomics is distributed? How many tokens will be printed? And how many tokens will the team lock?

Ans — We will have a total of 1 billion MOZ tokens. The split is Foundation 20%, Ecosystem development 25%, Content mining 25%, Token sale 18%, and Core team 12%.

Here are some important links of Mozik👇

🌎 Website: mozik.cc
📱 Twitter: twitter.com/MozikMoz
📢 Telegram: t.me/MozikENOfficial
📚 Medium: medium.com/Mozik