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Hello, Satoshi clubbers! Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from Mozik and our guest was @MarioLeeMozik?—?representative of Mozik. The AMA took place on 28th of May.
The total reward pool was 500$ and has been split into 3 parts.
In this AMA Recap, we will try to summarise the most interesting points for you.
Part 1?—?introduction and questions from the Website
Gold Rocket | Satoshi Club:
Hello, dear Satoshi Club community!
We are pleased to announce our AMA with Mozik
D. | Satoshi Club:
Today our guest?—?@MarioLeeMozik !
Mario Lee:
Thank you for having me, glad to be here.
Gold Rocket | Satoshi Club:
Hello and welcome to Satoshi Club, @MarioLeeMozik!
D. | Satoshi Club:
Hello! Welcome to Satoshi club! nice to have you here
Gold Rocket | Satoshi Club:
We are very excited about the upcoming AMA!
And you?
Mario Lee:
I cannot wait to start this AMA
Gold Rocket | Satoshi Club:
Let’s start!
Introduce yourself, please. How did you get to be involved in crypto & Mozik?
Mario Lee:
Sure, I have been a music serial entrepreneur in China for the last 15 years.
Previously, I co-created China’s first mood-based music streaming app “You Listen”.
Gold Rocket | Satoshi Club:
Wow! and how did this lead you to crypto?
I am sure that music and crypto can coexist and develop together. How did you put it together?
What is the essence of Mozik?
Mario Lee:
“You Listen” was acquired by Rock Records for $21 million USD. After the acquistion, I worked for them as COO of Rock Records Mobile Digital Music for a few years. So I have a rich understand and deep connection with the music industry. In 2016, I founded Mozik, I also noticed that the biggest pain point in the music industry is that artists are not being compensated fairly for their work. Record labels and streaming platforms take the lion’s share of the revenue from music sale and streaming playback. Artists only take home about 12% of that revenue.
This is something blockchain and NFT can help with
Gold Rocket | Satoshi Club:
Yes, that’s a problem! And by the way, you have a great background
D. | Satoshi Club:
Did you participate in any projects related to crypto before Mozik?
Mario Lee:
No, I haven’t participated in any projects related to crypto before Mozik. But I know many people in the crypto world
Gold Rocket | Satoshi Club:
What plans do you have for the future? And what can we expect from Mozik?
Mario Lee:
We intend to let artists mint different types of NFTs. They can release their tracks or albums as one-of-a-kind or limited editions. They can also raise funds to help with their music production by selling rights of their songs to fans and project backers. We will have trading functions at the beginning and plan to add auction, crowfunding, and other features as part of the roadmap.
Through Mozik’s platform, artists will be incentivized to create more and better quality music. With lowered publishing cost and higher engagement from music fans, all participants can share in the rewards, and create a healthier and fairer music ecosystem.
Gold Rocket | Satoshi Club:
This is truly a revolution in this direction!
Mario Lee:
A short video about what Mozik is aiming to achieve
https://youtu.be/8epZfdgL7CM
Gold Rocket | Satoshi Club:
Thank you very much for the great intro! Our community has prepared questions! Ready for this part of the AMA?
Mario Lee:
Look forward to it.
D. | Satoshi Club:
Cool video! Satoshi clubbers let’s give some likes!
Q1 from Telegram user @NataliyaKil
The Mozik whitelist on Ignition is closed and all winners have been chosen. But Mozik IDO Postponed due to Volatile Market Conditions. You decided to postpone IDO in light of the ongoing market conditions for somewhere between 2 to 5 weeks. In this regard, is there even the slightest chance of getting into the IDO whitelist for those who just found out about your project and amazing platform? Do you have any plans to open some additional whitelists? What conditions does the market need to provide for you to decide on an IDO date?
Gold Rocket | Satoshi Club:
Good video. I watched like a blockbuster
Mario Lee:
Thank you for the question!
The BSCpad whitelist will remain OPEN until the new IDO date:
Here is the whitelist link:
https://bscpad.wufoo.com/forms/r112vxze0q7fhxc/
Mario Lee:
Just ignore the date there, PSCpad haven’t changed the old timeline yet
D. | Satoshi Club:
So for now the new date for IDO is the unknown?
Gold Rocket | Satoshi Club:
So.. What conditions does the market need to provide for you to decide on an IDO date???
Mario Lee:
We will announce the new IDO date in 3 days, just need to give the market time to stabilize again and allow the mood of the market to recover.
D. | Satoshi Club:
Gotcha.
Gold Rocket | Satoshi Club:
Thanks a lot for the answers! ready for the next question?
Mario Lee:
Yes, please
Q2 from Telegram user @Highpee
Music venture is perceived a lucrative set up. Top music labels and streaming platforms often report huge yearly profit. However, music artists are not adequately compensated for their efforts as majority of the centralised and traditional music platforms have monopolised the industry, charging high commission from artist, thereby leaving artist with less than 12% of generated revenue in most cases. How does Mozik treats artists as an asset and not a commodity? In what way is your platform designed to assist music creators to emerge top in the entertainment industry as well as offer an alternative avenue for artist to release their content and earn their deserved revenue?
Mario Lee:
By publishing NFTs on MOZIK, artists reclaim the power back from record labels. They no longer have to adhere to label demands, hand over royalties, or go through expensive publishers to release their art.
Fans can directly contribute to an artist’s success by purchasing unique NFTs through MOZIK.
With a new source of income for artists and no third-party steering creative direction, artists are incentivized to give their best with each release.
Gold Rocket | Satoshi Club:
Show business is a tough world. And it’s amazing there are people like you who care about creators.
Mario Lee:
Yes, with NFTs, Mozik offers artists an alternative way to release their content and earn majority of the revenue.
With smart contracts, transactions are carried out automatically and transparently so artists know exactly where the revenue is coming from and be paid promptly into their wallets.
Gold Rocket | Satoshi Club:
Can you demonstrate some nft?
D. | Satoshi Club:
Binance NFT marketplace will be live in the end of June, and already lots of musicians from different countries said that they will release their NFTs on BINANCE marketplace. how do you feel about the possibility that many artists will prefer work with famous and big markets (like binance and other)? will it be tough for young projects like yours, compete with market like binance etc?
Mario Lee:
We will release NFT demos in the next few days on Twitter, please follow us https://twitter.com/MozikMoz
Gold Rocket | Satoshi Club:
It seems to me that the point is what conditions for artists to create. Is not it? @MarioLeeMozik
Mario Lee:
We think the NFT and the value it can provide for artists and music industry is still not well know
Obviously we need more projects to promote NFT, it is a good sign. The good projects will live.
D. | Satoshi Club:
Agreed!
Gold Rocket | Satoshi Club:
Indeed
Thanks for your answers! Let’s proceed to the next question!
Mario Lee:
Q3 from Telegram user @Ruttiee
The MOZIK token will offer two types of music-related assets: celebrity asset and music NFT. To better understand your project can you please briefly discuss these two different types of assets with us? what are these assets and how can artist and users as well earn from them?
Mario Lee:
We will primarily focus on Music and Celebrity related NFTs, they are not just for celebrities but we mean they are things like signed by celebrities.
We will have 5 categories of content on the marketplace: Music, Album/Art, Short Videos, Music Videos and Others such as Tickets, Autographs, etc.
D. | Satoshi Club:
Nice!
Will owners of these assets be able to trade them on different marketplaces (OpenSea for instance) or they will available only on your platform?
Mario Lee:
Yes, NFTs minted on Mozik will be able to trade on other marketplaces
Gold Rocket | Satoshi Club:
Which market are you currently targeting the most? Europe, Asia, America … etc
D. | Satoshi Club:
That’s cool
Mario Lee:
Music is international, we are targeting the global market of course. It looks like the American and Europe artist are more open to publish thier work using NFT. So American and Europe will be where we have most NFT drops in near future
Gold Rocket | Satoshi Club:
Thank you very much for your answers! Ready for the next question?
Mario Lee:
Sure
Q4 from Telegram user @meml97
Mozik is a project that intends to build the world largest Music NFT platform, with that being said, can you tell us more about the Music Copyright Protection that will be on it? How will it work? As we know right now there are tons and tons of songs using old tracks to be catchier or remixes independent artist or DJs make, so on what cases will this copyright protection be apply?
Mario Lee:
We have automated validation checks during the minting process. For music, it will be like using Shazam. Users can also report any fake or inappropriate content.
If the content is found to be in violation of copyright infringement. We will remove the content and freeze the uploader’s account.
There will be an appeals process for the uploader for them to submit proof of their ownership. We have a committee to review these appeals.
D. | Satoshi Club:
Looks like you built a good system
Gold Rocket | Satoshi Club:
I see you thought out this moment well!
D. | Satoshi Club:
By the way what will be the role of your token in Mozik’s ecosystem?
Mario Lee:
With $MOZ tokens, fans and project backers can purchase and trade NFTs on the marketplace. If you hold $MOZ tokens, it will unlock extra perks and benefits, such as access to tickets to special events held by Mozik, like music festivals, fan meet and greets. It will also grant you early access to purchase rare NFTs on the marketplace.
D. | Satoshi Club:
Very nice! i like when holders can benefit just from holding assets
Thank you! ready for the next question?
Mario Lee:
YES.
Q5 from Telegram user @mctrho
Over time you have made and carried out many associations, and today you have a large number of partners and investors. But I was struck by your last association that you announced on your Medium with Netvrk, a project basically dedicated to virtual reality technology. I would like to know more about this strategic partnership, how can you take advantage of this partnership? How can virtual reality technology influence Mozik?
Mario Lee:
MOZIK’s virtual presence in Netvrk will give fans direct access to artists, special events, and news right on the platform.
It will be a very exciting figure for artists to interact with their fans.
Gold Rocket | Satoshi Club:
Please tell us a bit about Social fans. How it works?
@MarioLeeMozik
Mario Lee:
We are working with Netvrk in bringing our NFTs into their virtual worlds. Fans will be able to experience their content in VR!
Gold Rocket | Satoshi Club:
Nice to see familiar projects. they came to our AMA. and they’re cool!
Mario Lee:
Yes, Netvrk is a great project.
Gold Rocket | Satoshi Club:
By the way, I saw a huge number of partners on your site! Which of the collaborations is the most important for you right now?
Mario Lee:
Crypto communities/clubs like Satoshi are the most important partners for us.
Gold Rocket | Satoshi Club:
Mario! Thanks for your kind words!
Satoshi Club is also very fond of good quality projects.
Mario Lee:
Because you are the people who like to try the new things first, and give the new things time to grow and develop through time
Gold Rocket | Satoshi Club:
Ready for the next question
Mario Lee:
Let’s go for it.
D. | Satoshi Club:
The last question from part 1
Q6 from Telegram user @h1drX
Mozik is a decentralized music NFT platform that aims to build a healthier and fairer music ecosystem where people can share their music. But currently in the world there are many censorships on the part of production companies, record companies, platforms, etc., which force artists to have to adjust to a filter imposed by their bosses. Mozik is the exception in the music industry? Any artist can feel free to transmit what they want without fear of being censored?
Mario Lee:
There won’t be censorships on Mozik.
Gold Rocket | Satoshi Club:
By the way, you have a great website design. You have a good designer, as far as I understand.
Tell us a little about your team. Who is the core of the project team?
Mario Lee:
Thank you, we have about 20 people on our team, 6 of which are developers. You can find the bio of core team members on our website: mozik.cc
And we have great advisors too.
Gold Rocket | Satoshi Club:
You really have a very cool team!
Mario Lee:
Gold Rocket | Satoshi Club:
Thanks for sharing
Part 2?—?live questions from the Telegram community
Q1 from Telegram user @messilolz
When will be your IDO? Any date is announced or will it be fair?
Mario Lee:
We will reschedule our IDO to Jun 6th and Jun 7th. Please follow our twitter: https://twitter.com/MozikMoz and our TG chat: t.me/MozikENOfficial for further annoucement
Q2 from Telegram user @cryptonation2
Do you have any top priorities and roadmap for now? What is your next plan?
Mario Lee:
Q3 from Telegram user @KeymerS
In case you are not an artist and do not share content, but if you are a music lover, how could Mozik really benefit me? in case of no benefits, why should I prefer it over spotify and others?
Mario Lee:
As a music fan, you can participate the community activities such as like, comment and forward the music NFTs. You will reward MOZ token for your activities and contributions to the musicians and platform. I believe this is sth spotify doesn’t offer.
Q4 from Telegram user @White_44444
Whats the total supply of the token ? Could you share a detailed tokenomics of mainnet token’s supply distribution.
Mario Lee:
MOZ Total: 1 billion
Core team reserve: 12%, locked on mainstream exchanges for 18 months
Foundation reserve: 20% for community and project operation
Ecosystem incentives: 25% is used for building the ecosystem,
community project incentives, fan rewards and city partners
Content mining: 25% is used for content mining to incentivize creators
to contribute content and fans to contribute traffic
Token Sale: 18%
Q5 from Telegram user @Alika061
What are the advantages of the #Mozik music NFT platform and can you provide some of #Mozik’s NFT innovations, then what features does #Mozik have over other competitors?
Mario Lee:
Mozik’s technical innovation will provide best music IP Copyright Protection:
DCPP: Mozik promotes Digital Content Publication Protocol (DCPP) along with the tools that are compatible with DCPP registration rights on-chain.
Discovery mechanism: It also facilitates an environment in coordination with the Mozik token economy and provides an excellent discovery mechanism. In this way, the platform helps artists to connect with a wider audience.
CTPP: Mozik Copyright Trading and Pricing Protocol (CTPP) pave a path for the musicians to complete the NFT music copyright trading conveniently.
Q6 from Telegram user @highpee
You will allow artist to issue musical and event TICKETS powered by blockchain. How easy is the process of blockchain ticketing for both event host and participants, and what are the advantages of blockchain issued ticket over the traditional ticketing method?
Mario Lee:
Through MOZIK, artists can directly sell NFT-tickets to fans at a fair price?—?ensuring higher concert attendance in the process. Ticket resale marketplaces like Get Me In and Stubhub are fraught with scalpers. Scalpers bulk-buy tickets and sell them at high prices to fans who have no other option but to buy them.
Q7 from Telegram user @Antoni_azx
There is something in your whitepaper that I found interesting … NFTs can be segmented, and users can sell, obtain advertising traffic and promotion and other incomes, so you’ll allow the trading with NFTs fractions? How will their value be preserved in segments? Can you tell us more about this feature?
Mario Lee:
For example, if the copyright of one song is mined into 1000 NFT, when you can have one NFT, which means you have 1/1000 of the profit generated by this NFT. The price of these 1000 NFT can be co-related but dosen’t have to be the same.
Q8 from Telegram user @h1drX
Statistics show that while the industry in general remains profitable, its main players, the musical artists who contribute their talent, are left without. Because of this, I would like to talk about percentages, because although musicians need to understand and learn how to become their own bosses in order to generate profits for large producers and record labels, the Mozik platform must take a part of these profits in order to develop the platform and pay for the work and effort of the team. How do you as a company generate profits? What are the percentages that the artists take and the percentage that Mozik takes?
Mario Lee:
Q9 from Telegram user @AugusS7
You mention that Mozik takes advantage of Blockchain technology to promote music and boost music consumption, but how does Blockchain really benefit to boost music? not only help in data backup?
Mario Lee:
NFT cut-out the middlemen in the music industry. Before COVID, the majority of music artists gain profits from touring, ticket sales, and merchandise. Now, NFTs are being considered a means of bridging this gap in income.
For example, pop musician and visual artist Grimes sold a series of digital art NFT’s. Her digital art collection sold for a total of $6 million.
NFT’s have the potential to entirely change the way the music industry works, giving the power into the hands of the creative artists who drive the industry. This will allow artists to directly showcase their work on the blockchain, eliminating the need for expensive marketing.
Artists have the potential to provide exclusive music videos, behind-the-scenes information, and album art.
Moreover, they can always release their albums as NFT albums.
Q10 from Telegram user @OSKar_lakky
What is the most important feature that distinguishes your project from other projects?
Mario Lee:
Mozik has been in operation as straming app from 2015 with 10 million accumulated users. this is very different from other NFT platfroms starting from 0 user base.
Part 3?—?Quiz Results
In the final part, we tested your knowledge in terms of Mozik. They’ve prepared 4 questions for this part. The total reward pool for the quiz was 300$.
For more information and future AMAs, join our Social Media channels:
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Twitter: https://twitter.com/MozikMoz
Website: http://mozik.cc/
