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Ontology Partners with Muzika to Build a Decentralized Music Platform



Ontology Partners with Muzika to Build a Decentralized Music Platform
Source: Unsplash

Ontology [ONT] nowadays is witnessing a rapid growth with its innovative development and currently, one more is added to the list. Ontology is a multi-chain project and a trusted platform that announced its partnership with Muzika, decentralized blockchain music eco-friendly platform.

Muzika has confirmed of building a dApps and an innovative music system that will be particularly based on Ontology’s technologies. On the other hand, Ontology has assured of contributing to this event and development.

Ontology and Muzika are Building a Decentralized Music Platform

Source: Twitter (@OntologyNetwork)

It is well to you that from the past 2-decade music industry have witnessed a revolutionary change. This includes a transformation from physical records to a digital music and of course from downloading music to online streaming. The former has made music more comprehensive and accessible and has played a significant role in expanding the business of music industry.

Although, it still faces other issues including the copyright problems, unbalanced economic distribution, and so far. One cannot deny the fact that this rapid development of the industries has to lead the decline in original music producer. However, the publishers are enjoying the shared revenue on their part.

These issues need immediate concern and to deal with such problems developing a decentralized and trusted blockchain music system will work as wonder.

Benefits of Muzika’s Music Ecosystem:
Well, this sustainable and eco-friendly system will utilize the Ontology’s technology with the aim to provide a hope to the users. This will enable the users to involve in any step involved in the music industry as per their wish. Fans can easily take part in any contest, production, consumption, profit distribution and so far related to music activities. This will come up with original music and will be allocated fairly.

By establishing a reasonable and autonomous virtual music platform Muzika will eradicate all kinds of unwanted pieces of stuff and will try to give a new scope to the musicians as well as the fans.

At present, Muzika has around 2 million active customers. In addition, the platform has 1700 music produces from 150 countries. This clearly denotes that the protocol has a great experience in managing the community.

With the active support of Ontology, Muzika can connect to more larger groups and settle more digital affairs like this. It can even win the trust of their customers via the Ontology’s distributed service that aims to integrate the music world.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Rupali Sinha is a journalist at Koinalert. She covers the latest news and updates related to Blockchain technology and cryptocurrencies.