Frequently Asked Questions
Inmusik is an new kind of music streaming platform that aims to increase the entire economy of the music industry by incorporating game theory and blockchain. Our ecosystem enables participating fans to earn rewards by placing Token votes on content they believe will succeed over time and in turn, share in all future earnings. This approach introduces a new revenue stream for recorded music, something artists, labels and fans very much welcome.
$OUND (pronounced as sound) Coin are smart contract Tokens built on the Ethereum (ERC20 token) standard. It is an integral part of the community as it provides a mechanism for Token votes, automatic trusted payment of earnings, other financial transactions and can be used by other third party applications. . Our smart contracts enable the music industry to implement a new form of Digital Rights Management (DRM) on the blockchain meaning it is decentralized, transparent and immutable ensures automatic trust in the system.
Inmusik Cash is an internal token designed to be a stable currency, pegged to the USD. It is the Token paid out to f artists and labels for streams. One token is equal to $0.01- (1¢) and it always will.
Because of the expansive nature of the speculative market, Inmusik has developed a stable currency that made sure artists and curators receive their respective payments. Also, putting billions of streams on blockchain requires a different kind of technology to the main Inmusik Token $OUND. The dual token system solves both of these challenges.
Inmusik is one of its kind in the creative industry, we enable everyone who contributes to the success of the platform to be fairly rewarded based on measurable values. The system is designed to mathematically recognize contributions and automatically pay users, all built on a viable and sustainable business model.
There are two ways to participate on Inmsuik; buy in or work in. For those who choose to buy in, there ia a monthly subscription fee which is competitive to other streaming site that offer unlimited streaming of mainstream content. To work in, users can do a range of tasks within the community like, verify content, vote and earn from payouts, earn referrals for sharing content or helping us choose the best 7 seconds of songs. We aim to ensure that every user who provides value to the community is rewarded and so it is entirely possible, for users to not have to pay cash to limitlessly listen to all their favorite music on Inmusik..
Of course! To start off, here is a story of Inmusik: https://medium.com/@inmusikofficial/the-inmusik-journey-e75107f513c7
For a quick overview of what Inmusik is:
In short, we are building a music ecosystem featuring:
- Digital Rights Management Solution
- Music Streaming Application
- Music Community
- Voting and Earning Solution for both musicians and listeners
- Third Party Platform for Value Added Service
Our belief – All people who actively contribute to the success of a venture should be rewarded in direct proportion to the measurable value of their contribution.
50% ICO Presale / Crowdsale, 28% Platform Reserve, 11% Team, 9% Advisors and Partnerships, 2% Bounty and Marketing Campaign
Yes. All tokens that are not purchased are vested. Terms vary from 3 months to 12 months. Most have a vesting schedule starting with 25% freed up after 3 months.
We would love for you to sign up to our list of people that will have access to our beta site. You can sign up through this link right here: https://inmusik.co/invite-beta/. We will be sending out an email to announce the site’s availability. Also, if you would love to get your hands on some $OUND tokens to use once the platform goes live, reach out to us at firstname.lastname@example.org, we are running a rewards program for musicians and artist.
Inmusik has invented a new revenue stream for recorded music. As a musician, our platform enables you to receive increased, fair and transparent payouts which are in direct proportion to your impact within the community. Inmusik can also help you find and build an active fan base, and in the future, earn more through ticketing and selling your merchandise. Inmusik will be a fan creation machine that will help musicians earn more while being able to upload and manage your own content, connect and communicate with your fans.
You sure can. We believe that all those who positively contribute to the success of the venture should be rewarded based on the measurable value they contribute. Here’s how you can earn. Using your $OUND Tokens, you can vote on a song and with that vote, you then own a stake of the songs future earnings. This means that earlier voters on popular songs will earn the most as you share in all earnings after your vote. Also, the more Token votes you make, the bigger your stake will be. To add to that, listeners can also earn by referring other listeners to a song. Each referred listener will add to your stake of the refers pool giving everyone a fair opportunity to earn using our unique model.
Yes. Inmusik is based on a subscription model like other music streaming services, so you can simply pay a monthly subscription. However, as you can earn on Inmusik by helping to curate music, your subscription rate can be lower each month if you are contributing to the community. If you prefer to listen only, the subscription price is the same each month.
A token pre-sale is a strategy done by a company to raise funds that can then be used to cover costs incurred on the way to launching the main ICO. During a pre-sale, the company gives out discounts to people who would like to purchase the token in advanced.
The presale is ongoing until September 31st. The public sale will start on October 5th 2018.
The rate of 1 $OUND is equivalent to $0.10 USD
The minimum $100 or equivalent (1,000 $OUND) . Maximum $10,000 (100,000 $OUND). Anything above $10,000 USD – contact email@example.com
All Ethereum wallet will support $OUND Tokens. We recommend Exodus and Jaxx. Although, we are not, in any way, affiliated with them. We highly recommend that you always read and follow the security guidelines.
We currently accept payments via credit card, powered by Stripe payment gateway. However, we do not accept American Express (Amex) in India.
Note: if you have tried to buy $OUND coins and the payment was rejected, please contact your bank as you might need to instruct them to allow these types of transactions.
We accept USD, INR, EUR, BTC, ETH and credit card payments for fiat currency
We follow the KYC Restrictions. We do not accept transactions from United States, Bosnia and Herzegovina, Democratic People’s Republic of Korea (DPRK), Ethiopia, Iran, Iraq, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, Vanuatu and Yemen.
We are currently building a wallet dashboard where you will be able to to track the total $OUND you own from participating in the presale, bounty and referral programs. During launch, you will receive an email to verify your information. Currently, only those with the link to the 25% bonus are able to view the price through the email.
Yes, there is. Just go to this link right here: https://inmusik.co/landing-20-bonus/ and click ‘Start Here’. You should be seeing the following steps below:
Step 1 – Provide the basic information for our database (Name, Last Name, Email Address)
On the bottom part, you should see a box you need to tick to confirm your agreement with out Terms and Conditions.
Step 2 – Choose from the dropdown menu your ‘Nationality’ and ‘Country of Residence’ followed by your phone number.
Step 3 – Submit/Upload any of the following: Passport, Identity Card, Driver License. Once you choose one, you will need to provide it’s issue date and your date of birth. The upload button should be just below that.
Step 4 – Just choose your preferred mode of payment. You can choose USD, EUR, INR, BTC, and ETH. Once you choose one, you should be able to input how much you would like to purchase. That should show how many $OUND Tokens you will be getting. And if you’re good to go, just click ‘Buy Sound Tokens’.
The last step will ask to confirm your email address and your name. Followed by the amount of $OUND Tokens you would like to purchase then click ‘Pay’.
You should be seeing a pop out that allows you to enter your billing information.
Once done, you should receive an email to confirm your purchase.
You will need a valid/current Passport or Driving Licence to enable you to register for $OUND Coin.
For verification and safety purposes, you will be required to upload your ID again
We are currently building a wallet dashboard to track every purchase you make and your awarded amount if you participated in our Bounty Program.
Your tokens will be issued once the ICO is completed on the 5th of October, 2018. Click on this link to read more about it: https://inmusik.co/wp-content/uploads/2018/04/lightpaper.pdf
We are not allowed to discuss exchanges or listing dates at this time due to federal regulatory constraints. Official announcements related to exchanges or listing dates will be made via our social media channels found on our website.
Yes, please visit https://inmusik.co/bounty-campaign/ for more information.
The purpose of the Bounty Campaign is simply to recognize our users’ contribution to our platform. The Inmusik platform is designed to be the first platform that rewards both listeners and content creators, in equal measure, based on the value they provide to the community.
Yes. All people who actively contribute to the success of the platform or create artistic content for the platform is rewarded in direct proportion to the measurable value of their contribution and to those who consume it.
We are in the midst of building a wallet dashboard to track the amount of $OUND you have received from your Bounty participation. In the meantime, please reach out to an admin via telegram if you wish to inquire about how much Bounty you have earned through your participation.
There’s an extensive selection of ethereum-compatible wallets that you can choose from. To name a few, Jaxx, Exodus, and MyEtherWallet. In this case, I can run you through the process of making your own ETH wallet in MyEtherWallet. Just follow the steps below:
Step 1 – Go to their site at https://www.myetherwallet.com/. You should be seeing a pop-out about important things to remember when making your ETH wallet. Read through those,
Step 2 – After the pop-out reminders, you should be seeing their homepage and you will be asked for a password for your new wallet. Your password encrypts (protects) your private key so make sure not to forget it. Click ‘Create New Wallet’ once you finish typing up your password.
Step 3 – Once you have set your password, you should be redirected to a page where you can download your Keystore. Download this and save it somewhere safe. Do not lose this. You cannot recover this when this gets lost. After you read the warnings, click the ‘I understand. Continue’ button.
You now have the option of printing a paper wallet, saving your private key, or saving a QR code of your private key. Back up at least one (offline).
Yes, you can. Despite the restriction that the RBI (Reserve Bank of India) has placed on purchasing cryptocurrencies from RBI-regulated entities, it cannot restrict you from investing/purchasing cryptocurrencies directly from an international company. It abides by the law in India that anybody can hold cryptocurrency.
Absolutely yes. A true community can’t operate without catering to all the need within the industry. Inmusik was started as an independent musicians platform and we are staying true to our roots. We have many initiatives planned that are designed specifically for the independent artists of the world.