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.
The $OUND (pronounced as sound) Coin is a smart contract Token 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. This means it is decentralized, transparent and immutable, ensuring 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 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.
To enable a fair music market economy in a tech savvy world, Inmusik incorporates blockchain technology with a blend of concepts around the principle of ‘Shared Success’ and community curation.
Inmusik is a Blockchain-powered music ecosystem that introduces a new asset class – securitized music. For the first time ever, fans can invest in the future success of music. We’ve created a completely new revenue model for recorded music that integrates with our streaming platform, designed for the active enjoyment of music and the growth of the entire industry’s economy.
There are two ways to participate on Inmusik: buy in or work in. For those who choose to buy in, there is a monthly subscription fee which is competitive to other streaming sites 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:
For a quick overview of what Inmusik is:
In short, we are building a music ecosystem featuring:
- Content Investment
- Music Streaming Application (ad-free, unlimited streaming)
- Inmusik Verification for independent artists
- Music Discovery
Our belief: Everyone who actively contribute to the success of a venture, create quality content, and help find audience for great creative works should be rewarded in direct proportion to the measurable value of their contribution.
50% 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 email@example.com, 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 allows everyone to enjoy unlimited music streaming by purchasing a monthly subscription, just like other streaming platforms. However, as you can earn on Inmusik by helping to curate music, your subscription rate can also be lowered when you contribute 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 crowdsale. During a pre-sale, the company gives out discounts to people who would like to purchase the token in advance.
All Ethereum wallets should be able to 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 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.
You can use the dashboard to track the total $OUND you own from participating in the presale, bounty and referral programs.
We are accepting the following IDs, provided that they are valid/current:
- Identity Card
- Driver License
You can track your purchases, referral rewards, and bounty program rewards using our wallet dashboard. You may access the wallet dashboard here.
We are not allowed to discuss exchanges or listing dates at this time, due to federal regulatory constraints. However, official announcements related to exchanges or listing dates will be made via our social media channels found on our website. We’ll keep you posted. 🙂
Our bounty program has ended. If you wish to know more about the campaign or check your submission status, 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.
You may track the amount of $OUND you have received from your Bounty participation using our wallet dashboard, which you can access from this link. In case you have any questions regarding the amount of $OUND you have received, please reach out to an admin via telegram or send us an email at firstname.lastname@example.org.
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, we 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 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.
We have already allocated all bounty campaign rewards. You should be able to see the SOUND tokens you have earned on your dashboard. If you haven’t registered, just go to our website: https://inmusik.co/ and click ‘Sign Up’ to create your profile and see your tokens in the dashboard.
Note: Please use the same email address you used to participate. Otherwise, you won’t be able to view your tokens.
A Verified KYC Status means that you have complied with the standards of our criteria in verifying an ID, Passport, or Driver’s License you have submitted/uploaded in our system. A Not Verified Status means you have failed to submit/upload an ID that meets our standards.
Criteria for successful verification is as below:
- ID, Passport, Driver’s License is in color and not in black and white (except when an ID issued is in black and white)
- Uploading a copy that clearly shows your Name, your ID picture and other important information that we need to confirm your identity.
- Make sure that your ID is not expired.
As you may know, we have upgraded our site. While all accounts from our old one are stored in a safe and secure place in our servers, we have not added them to our new site. With that said, we would still love for you to be part of our community. If you are still interested in Inmusik, please reach out to us at email@example.com and we’ll send you the link to sign up to list of people who will get first access to our beta site.
Our platform is still underway. Our developers will have more information as the platform nears the beta testing phase.
At the moment, the withdraw feature is still unavailable. You can only view your tokens on the dashboard. We’ll announce via email once your tokens are ready for withdrawal.
We have already launched our dashboard. It should allow you to view your purchases/earned tokens. Just head over to our website: https://inmusik.co/ and click ‘Sign Up’ to create your profile and see your tokens in the dashboard.
We apologize for the inconvenience but we’ve already deactivated payments. We’ll have more information in due course.
We haven’t distributed the tokens yet. But no worries, we’ll definitely send out an email to let you know when it is ready to be sent out to your preferred wallets.