Have you ever considered being part of a digital world/community of music? In a music world where all you do is to have the groove, consume, create, collaborate, communicate and coexist?
Groove Up is the first DAO/Decentralized music-fi app built on the Binance smart chain that helps artists grow active fan bases and finance while rewarding the fans for actively streaming and sharing the music using smart contract administration.
Groove Up is built by music lovers, music creators, and music collaborators. It is built by those who know what music is and what it represents. Those who experience, live and breathe energy.
The Music verse is a place for passionate generations of music creators and their hardcore fan groups, to come, grow and make money together. Influencers and service providers can create content and earn a share of the social media streaming revenues.
Groove Up aims to serve as a one-way channel to music influencers such that artists will have that one central point where they can engage with, stimulate and mobilize GennovatorZ to create, stream, and share videos of themselves across all platforms & grooving to songs of their favorite Groove UP artists instead of having that shared scattered across multiple social media platforms like Twitter, TikTok, Instagram, and many others.
GennovatorZ: This is the name given to GrooveUp VIP super-fan groups.
Objectives of GrooveUp
- Become the first stream-to-earn platform.
- Become the first Music Influencers medium where artists can reach out to groups of influencers to share their songs across all social media platforms.
- To become the first artist-fan tokenization platform.
- Teach users how to profit from the music ecosystem using DeFi and Music-Fi.
- Onboard 1 million streamers in the first 3 months of launch.
- Have the first most viral artist in the world come out of the Groove up platform in the first 3months of launch.
- Be the first most viral artist in the world come out of the Groove up platform in the first 3 months of launch.
Here are the major rarities that make GrooveUp unique.
- It is built on the BSC Network which is cheap and fast.
- GrooveUP connects artists directly to their fans, and they can send a message, voice note, etc., to all their fans in one place.
- Fans receive rewards any time they stream and share a song with their crypto wallet connected.
- Fans can trade and decide on how famous an artist would be as they are tokenized.
- Artists can raise funds from their fans by offering them a percentage of their streaming earnings for life, or a specified period using the smart contract.
- GrooveUP works in partnership with existing streaming platforms like Spotify, Apple Music, and many others to reward streamers.
- Grooveup also serves as a collaborative platform for music makers, producers, and artists to meet and collaborate.
Components of GrooveUp
- Music-Fi: It is a term created by the grooveUp team to describe the intersection of music streaming activities and decentralized finance. with Grooveup Music-fi, streamers and artists can leverage the blockchain and smart contracts to create wealth for everyone using the app.
- Decentralized Exchange(DEX): The DEX features an in-app currency swap where groovers can buy, sell and swap tokens with several token pairs. The DEX will also be a platform to stake in liquidity provider tokens to earn Groove tokens as rewards.
- Music Streaming: Streaming platforms like Spotify and Apple Music, will be able to stream the music of their favorite artists on the GrooveUp app.
- P2P Marketplace: Groovers can buy and sell NFT, artists’ merchandise, their shares of artist’s music, etc. P2P transactions between artists-fans and fans-fans.
- Decentralized Autonomous Organizations (DAOs): Voting will be available on the platform for streamers to choose who appears on the Artists to Watch feature, new features development, etc.
- Musical Artists NFT: With the launch of the in-app NFT marketplace, artists can create, mint, and launch their own NFTs in minutes, offering them to interested fans in the GrooveUp marketplace.
How GrooveUp works for Artist
With the GrooveUp, the artist is tokenized like NFTs and then offered to fans who can invest in all music-related successes. When a fan stakes on an artist, it can increase in value, and any stake is resalable.
Fans can buy a lifelong stake in an artist’s future streaming revenues for a particular project /song and get a percentage of whatever the artist earns. The revenue will be paid directly to them using Blockchain-powered rights management & distribution. Music Investment Portfolios (MIPs) are transferable to a next of kin like any valuable asset.
Each artist has a personalized fan base room to enable real-time engagement with their fans all over the world with just a click on the streaming app.
They can share personal messages and get feedback directly from their fan community, getting opinions, sharing unreleased songs, and getting instant ideas from fans. That way, they can directly raise money from their fans for their music production and promotion. In exchange, fans earn a share in their streaming earnings on all platforms such as Spotify, Apple Music, YouTube Tidal, etc.
How to earn from GrooveUp as a Fan
- Buying and owning a part of your favorite artist’s music project.
- Connecting directly with the artist and other fans through the fan base room.
- Exchange and transact your favorite celebrity’s tokens and NFTs in the marketplace or DEX.
$Groove is the utility token for the GrooveUp app ecosystem. $Groove will be used for the following.
- $Groove will be the only currency used for transactions within the Grooveup ecosystem. Transactions such as; purchasing NFTs in the marketplace, artist’s fan tokens, and future paid ads.
- Streamers who stake their $Groove will be given rewards like earning staking APR, DAO proposals, random supplies, distribution, etc.
- The amount of Groove token a streamer holds determines the groover’s voice in the decision-making and voting for the project development.
- Reward will be given to active groovers based on the number of tokens they are holding. The groovers determine which artists appear on the Artist to Watch feature by popular votes.
Grooveup aims to launch with BSC because of its affordable gas fees and robust blockchain networks. $Groove will be available in several known blockchains using the token blockchain bridge system and users can access the token on all chains using the in-built multi-chain wallet.
Token name: $Groove
Initial public price: $0.020
Initial circulating supply: 50,666,667
Total supply: 2,000,000,000
Max supply: 1,000,000,000 Groove
Initial Supply: 25,000,000 Groove
Initial token Support: BEP-20
Additional token support: Ethereum, Solana, Polkadot, Tron & Cardano.
GrooveUp is an application intended to work with existing music streaming platforms such as Spotify, Apple Music, Tidal, etc,
Through the Groove Up app, users have access to all of the major DSP music catalogs, which connects artists directly to their fans to enhance the traditional music streaming platforms experience by utilizing the blockchain tokens reward system exclusive to GrooveUp subscribers,
What do you think of this article? Share your comments below.
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