Tune Token Basic Review
Name: Tune Token
Ticker Symbol: TUNE
Project Type: Music
Extended Company Description: Tune is an ecosystem for the music industry, based on dApps. Tune will provide a platform where producers, performers and fans can interact with one another.
Company: Tune Software
Public ICO start date: TBA
Public ICO end date: TBA
Token sale duration (weeks): -
Token type ERC-20
Tokens to be sold (pre-sale + public ICO): 1,000,000,000
Tokens Avaliable (pre-sale + public ICO): 400,000,000
Purposes of fundraising:
Price: 1 TUNE = 0.0002 – 0.00016 ETH
Accepted currencies: Bitcoin, Ethereum
Bounty program: starting soon - https://bounty0x.io
Token functionality: functional
Team size: 6
Number of advisors and partners: 12
Tune is an ecosystem, based on dApps, for the music industry. Tune will provide a platform where producers, performers and fans can interact with each other.
The first decentralized app to be integrated with the Tune platform will be RecordGram (an award-winning platform for creating your own tracks).
The main purpose of creating such a platform is to maintain control of copyrights between musicians, performers and producers through the use of blockchain technology and smart contracts. Tune will also incentivize all stakeholders, including music producers, songwriters, artists and even music fans, in the creation, discovery and distribution of music, by giving them the opportunity to earn Tune tokens based on their contribution and engagement with the platform.
The Tune platform will provide the following services:
- content creation.
- ad placement.
- attracting users.
- music marketplace.
- possibility to record your own tracks.
- a social network for communicating with friends, discussing tracks, etc.
- Richard Titus (https://www.linkedin.com/in/rxdxt/) — Managing Partner at ARK Fund and ARK Advisors, Coach and Advisor at Andronik Ltd., Mentor at Creative Destruction Lab, Advisor for many other ICO projects.
- Justin Wu (https://www.linkedin.com/in/justincwu/) — Information Architect, Token Advisor and Growth Marketer for various blockchain companies. Worked with The Wall Street Journal, CES and NASDAQ. Founded companies such as Sidevision (invested in by Warner Bros) and Vytmn.com, (a marketing tech company), where he provided a revenue growth of $1 million in the first year.
- Simon Bogdanowicz (https://www.linkedin.com/in/simonbogdanowicz/) — Blockchain Investor, Entrepreneur, ICO Advisor, Advisor for Hybrid Block Official and ShipChain, Founder and Managing Partner at BlockTeam Ventures.
- Jesse Tevelow (https://www.linkedin.com/in/jtevelow/) — Co-Founder and Managing Partner at BlockTeam Ventures. Previously founded LaunchTeam and was also responsible for Product Marketing at MarketMuse.
- Ahalya Kethees (https://www.linkedin.com/in/coachahalya/) — Co-Founder of Crypto Underground. Speaker and Executive Coach at Lead with Brilliance. She is also a Senior Associate at Neuberg, Gore & Associates.
- Brian Zisk (https://www.linkedin.com/in/brianzisk/) — Venture Partner at Exponential Creativity Ventures, Real Estate Agent at Coldwell Banker Island Properties and Creator of the SF MusicTech Summit in San Francisco.
- Monique Mosley (https://twitter.com/monique_mosley_?lang=en) — a representative of the entertainment industry. An Angel Investor at Reign Venture Capital. She is one of Gotham Magazine’s "Powerful 100 names to know".
- Gary Manheimer (https://www.linkedin.com/in/gary-manheimer-877916/) — Co-Founder of Systems 4 Health (solutions for healthcare management). Member Of New World Angels. Producer at Manheimer Entertainment.
- Cameo Carlson (https://www.linkedin.com/in/cameocarlson/) — President of mtheory Nashville. Previously, she was the Head of Digital Business Development at Borman Entertainment. She was the Executive Vice President of Universal Records, and Label Relations & Music Programming Manager for Apple iTunes.
- Samantha Saturn (https://www.linkedin.com/in/samanthasaturn/) — President of Saturn Advisory (a digital marketing agency). Previously, she was the CMO at comiXology (a branch of Amazon.com) and Senior Vice President of Digital Marketing at Columbia Records.
- Chris Sloan ESQ (https://www.linkedin.com/in/chrissloanesq/) — Chair of Blockchain & Cryptocurrency at Baker Donelson. Member of the Board and the Master Mentor at the Nashville Entrepreneur Center.
- Bill Brennan (https://www.linkedin.com/in/bill-brennan-1417431/) — Serial Entrepreneur, Mentor, Angel Investor. Co-Founder and Board Member at Multiple Organizations. Mentor at Spera Health. Lead Investor and CEO at Dataium LLC.
- Ryder Lee (https://www.linkedin.com/in/m-ryder-lee-a191685/) — Principal Owner of RyderLegal. Owner of One Eye Publishing.
- Blockchain Beach — a company, organizing events and workshops, creating content and writing newsletters related to blockchain technology. Aimed at training people interested in this technology.
- Blockteam Ventures — an investment firm focusing on companies with the most innovative blockchain technologies. The company evaluates a project’s possibilities from three different areas: team, results and technologies.
- CRYPTOCOUNCIL— a private, invitation-only community for top level investors. Investments in the crypto sphere are discussed within the community.
- The Bushido Lab — a developer of software and applications, specializing in applications like Ruby on Rails (RoR) and blockchain solutions (dApps).
- PresentYourStartup — acceleration program. The platform connects startups with capital and experts through events, guides them and helps them to obtain funding for development.
- SH— a company promoting technology in Harlem (New York) through the use of comprehensive solutions, such as digital literacy programs.
- Digiwaxx — a global platform for the promotion, distribution and sale of music. Using developing technologies and engaging in the development of an online community, Digiwaxx unites artists, labels, DJs, broadcasters and other stakeholders in order to offer exclusive access to new and breakout music.
- Project Music — supports startups and entrepreneurs in the music industry.
- Gitex Future Stars — a global major startup event held in the Middle East, Africa and South-East Asia. In 2018 it will be held in Dubai.
- Block Gemini — a leading consulting company for blockchain development, operating in the MENA region (Middle East and North Africa).
- NY Tech Meetup — an event dedicated to technology. Participants include New York technology companies, who present samples of their products live. It also includes afterparties, where entrepreneurs have the opportunity to network and find sponsors.
- Bloktalks — a company, organizing and holding events and conferences dedicated to everything blockchain (Blockchain, Networking, Education, Technology, Community, Public Speaking, Events, and ICO).
Attracted funds: n/a
The project is an ecosystem where participants of the music industry can interact with one another.
- strong team and experienced industry advisors.
- the platform will be integrated into an already working business.
- the project will enter a market which shows a moderate growth rate.
- there are a lot of competitors in this market offering similar services.
Market and Industry
According to Technavio’s analysis, the music market will grow by 9% annually until 2021. In addition, the IFPI notes that revenues in the music industry have grown by almost 6% in 2017. [https://www.technavio.com/report/global-publishing-and-advertising-global-music-market-2017-2021], [http://www.ifpi.org/news/IFPI-GLOBAL-MUSIC-REPORT-2017]
According to the analysis by the project team, the value of the music industry market, and, in particular, the amount of unpaid royalties, is estimated at $2.5 billion.
Comments: The market is developing at a moderate rate, suggesting the possibility that the project may face some difficulty in finding their niche.
The following competitors are mentioned in the Business WP:
- Musical.ly — a social network for creating and sharing short videos. The content can include singing, dancing, standup, etc.
- Autorap — an application that allows users to record their own tracks.
We also identified the following competitors:
- Voise — a marketplace platform for sharing musical tracks.
- Ujomusic — a platform for the distribution of music content, which also aims to respect copyright laws.
- Zimrii — a platform for downloading and selling music tracks using smart contracts.
Other possible competitors include Muse Blockchain, Revelator, Mycelia.
Summary: All of these platforms have similar content and technology. However, the key difference between Tune and its competitors, is its focus on the creation of an ecosystem and the integration of an existing business, RecordGram, with the platform.
Platform Technical Parameters
The Tune platform will be built on the basis of blockchain technology, using smart contracts.
Initially, Filecoin will be used for storing content. For now, all data will be stored centrally in the InterPlanetary File System (IPFS) network. Raiden will be used for micropayments.
The Tune platform, according to the creators, will be scalable. This will be possible thanks to the collaboration with Hyperledger Fabric.
Later, API will be implemented to provide support for interaction with the various platforms in Tune’s ecosystem.
In addition, a protocol will be developed in order to allow the following:
1) verification of interaction using smart contracts.
2) calculation of a participant's contribution to the ecosystem.
3) calculation of the reward (Proof-of-Streaming).
Proof-of-Streaming (PoS) will be added as another layer to the IPFS, expanding the possibilities of data storage. The central part of the IPFS is Acyclic Graph (Merkle DAG), which allows the project to store data. Identification of the public key infrastructure (PKI Identification) is used in the IP network to identify nodes. IPFS bitswap is a data exchange module that contains the messaging protocol. All these components are part of the PoS. Thanks to the PoS, Node Hosters, people who manage nodes that place fragments of content in the network, and Node Streamers, people managing nodes that transmit audio and video, will be rewarded with Tune Credits (TUNC).
In order to make content safe, each track will be assigned a Fingerprint.
For the DApp architecture it is planned to use MongoDB, Hyperledger Full Node and Node.js working with Docker Swarm, which will allow the project to scale easily and dynamically. [https://filecoin.io/], [https://en.wikipedia.org/wiki/InterPlanetary_File_System], [https://raiden.network/], [https://www.hyperledger.org/projects/fabric], [https://www.mongodb.com/], [https://docs.docker.com/engine/swarm/swarm-tutorial/]
The platform will have 3 types of tokens:
1) TUNE Token (TUNE) will be:
– used to buy a subscription to download a certain number of tracks.
– used as rewards for active performers.
– used to pay for placing advertising.
2) TUNE Credits (TUNC) are the internal token of the platform, which cannot be transferred outside the platform. The token will be:
– used to reward users for viewing and distributing content.
– used to provide financial support to artists.
– used for payment transactions between musicians, producers and performers.
3) Content Credits (CC & eCC) are tokens that are issued to the members of the platform, when they pay for services with TUNC, and provide them with access to restricted or closed content.
The Ecosystem of the platform will include the following members:
– Performer — a musician, performer or author of a text.
– Producer — the person who finances the project.
– Fan — someone who downloads the app and uses it for content consumption.
– Advertiser — someone who advertises their products or services on the platform.
– Follower — followers of a performer.
– Curator — a person who listens to playlists or creates a community of followers gathered around playlists (building a follower base based on curated content).
Comments: The project already has a mobile application — RecordGram. [https://itunes.apple.com/us/app/recordgram/id1126223607?mt=8]
In the future, with the development of technology and the amount of data the project team plan to implement the following:
– Q1 2018 — Platform development. Testing the use of the token.
– Q2 2018 — Testing the beta version of the platform with RecordGram integrated, development of the platform and protocols, and implementation of decentralized data storage.
– Q3 2018 — Opening the source code of the platform.
Comments: The project presented a step-by-step strategy for the development of the platform.
It is currently not possible to see the smart contract. According to the team, the smart contract will be announced in the near future.
We have analyzed the site and the documentation of Tune for sufficiency and consistency for making an investment decision.
Information about the project is contained in the White Paper and in the Business White Paper. Both the White Paper and Business White Paper are available in English. The WP is also available in Chinese and Hindi. The White Paper presents a description of the project. The main emphasis of the White Paper is on the description of the project's infrastructure and platform functionality.
The website also provides information on: the project, ICO, RoadMap, team, advisors and partners. The site is available in English.
Summary: The documentation provides a detailed insight into the project. The project is described in sufficient detail in the documentation.
Percentage of tokens issued for sale: 40%
Public ICO start date: June, 2018
Token type ERC-20
Accepted payment: Bitcoin, Ethereum
1 CRAD = 0.0002 – 0.00016 ETH
Crowdsale duration: n/a
TUNE Token (TUNE) will:
- allow users to buy a subscription to download a certain number of tracks.
- be used as a reward for active performers, artists, writers, producers and music fans.
- be used as payment for advertising.
Token limitation: 1,000,000,000
Token holders’ perks: the tokens are functional which allows one to either use them for purchasing platform services or sell them.
Additional token emission: none
The token sale will take place in two stages:
- March 26 — private sales.
- First week of June – public sale.
Hard Cap: 45,000 ETH
Soft Cap: 15,000 ETH
Comments: Depositing Tune tokens to the accounts of the RecordGram app users will occur after the end of the ICO (crowdsale). Tune tokens will be transferred using smart contracts after the completion of a third-party audit (an audit conducted by an independent auditing company).
Bounty link: https://bounty0x.io
Token and Funds Allocation
Tokens and capital are to be distributed according to the following scheme:
Conclusion: Tokens do not affect the distribution of shares in the company.
Project Development Plans
Roadmap of the Project
- Q2 2018 — attracting partners to the platform.
- Q3 2018 — the beginning of the formation of a community on the platform.
According to the Business WP, the marketing campaign will include:
- Market influence.
- The involvement of celebrities.
- Affiliate marketing.
- Placement of the app in the AppStore.
- E-mail newsletter.
- The creation of the logo watermark.
- Participation in conferences and events.
- A system of rewards.
The following are considered as potential markets for expansion: China and Korea.
Summary: The project introduced a marketing campaign and a scaling strategy.
The team consists of 6 members, as well as 12 advisors. Information on the core members of the team based on their LinkedIn profiles:
- Erik Mendelson (https://www.linkedin.com/in/erikmendelson/) — CEO and Co-Founder of Tune Token and RecordGram Inc. Executive Music Producer and Artist Manager. Signed, managed and developed three platinum artists, generating over $20 million in gross revenue under his leadership.
- Winston Thomas (https://www.linkedin.com/in/winstonblackoutthomas) — Co-Founder and Creative Director at Tune Token. Co-Founder and Designer at RecordGram Inc. Grammy winner, Music Producer, and international DJ. He has released more than 30 commercial songs, including the #1 single in India and also a top song in the international charts. BlackOut Movement Production.
- Shawn Mims (https://www.linkedin.com/in/shawn-mims-b7849537) — Co-Founder and Production Manager at Tune Token, also a Co-Founder of RecordGram Inc. Stage name — MIMS. Multi-platinum Artist. Composer — Grammy winner. He is known for his single (#1 "This Is Why I'm Hot"). He generated a gross revenue of over $16 million. EMI/Capitol Records.
Summary: The founders did not specify their affiliation to the Tune Token project itself, however, they identified their parent service — RecordGram. The team is mainly from the USA. The team also has the following specialists: CTO and blockchain engineers.
Information about the project is available on a variety of popular services such as Twitter, Telegram, YouTube and Facebook. The project will announce its Bounty program soon.
The team is conducting an advertising campaign on social media. There are regular news updates on Facebook and Twitter and videos are posted on Youtube. The format of articles about the project suggests that they were mainly project reviews ordered by the team.
Comments: Users are interested in the project. The marketing campaign is mainly being developed on Twitter and Telegram.
Analysis of the Tune website traffic based on data from Similarweb.com showed:
Traffic sources: [https://www.similarweb.com/website/tunetoken.io]
Comments: direct: 31%, referrals: 4.54%, search: 49.19%, social: 10.85%, mail: 4.41%
Search traffic: 49.19%, of which 100% is "organic" traffic
Referral links: 4.54%
Analysis of the Tunetoken website traffic based on data from BE1.ru showed:
Traffic sources: [https://be1.ru/stat/tunetoken.io]
Comments: Top 5 countries of site visitors: China — 28.41%, Turkey — 25.11%, USA — 17.62%, Hong Kong — 8.99%, Malaysia — 5.84%
Referral links: recordgram.com — 100.00%
Social activity: Twitter — 100.00%
Summary: Based on the data available on the project, it can be concluded that users are beginning to show interest in the project. The team is conducting an active advertising campaign on Twitter and Facebook, they communicate with users through Telegram, post videos on YouTube and participate in various events and competitions, including TechCrunch (the winner of the Startup Battlefield at Disrupt NY 2017 is... RecordGram). [https://techcrunch.com/2017/05/17/recordgram-wins-startup-battlefield-at-disrupt-ny-2017/]
In the last month the number of visits increased by 2,000 people. It should be noted though that traffic of the main site (recordgram.com) remains at a low level (about 4,000 people in last month). [https://be1.ru/stat/recordgram.com]
You can contact the developers via the following links: