What is Sound Legends?
This white paper introduces Sound Legends Inc., a company that has invested considerable resources to successfully launch a global music platform with presence in all 195 countries worldwide. The Company provides a comprehensive suite of tools, services and products designed to allow independent artists around the world to be heard and to develop, exploit and protect their music assets. A full description of Sound Legends is embodied within this document. With the success of the Token sales described herein, we intend to migrate our entire platform and proprietary technology to a blockchain-based solution via a distributed ledger using Smart Contracts based on the Ethereum protocol. This evolved platform will give back the power to independent artists all around the world, enable them to go global, retain 100% of their revenues and royalties and protect their rights with a secure storage function provided by the Blockchain.
The music industry today is one of the hardest environments for independent, unsigned artists to showcase their talent and material in. We have come to an era where it is almost impossible for independent musicians to reach the masses, be discovered, and even more, to become a legend with their music. With the current conditions of the industry, only a few manage to translate their talents into success, but even when they make it, other daunting issues arise. Existing digital music streaming platforms, record labels, agents and other intermediaries receive the bigger cut, resulting in reduced income for the artists.
Even world-renowned artists such as Prince, Toni Braxton, Lil Wayne, George Michael, Billy Joel and even Michael Jackson suffered incredible difficulties in their relationships with their record labels, in some cases when they were just up-and-coming-artists and others after they had already become “Legends.” It is no surprise then, that unknown, independent artists face numerous challenges trying to navigate the music industry today. The U.S. Congress has recognized that the increasingly digital music industry badly needs reforms to rebalance the scales in favour of artists, having introduced four different pieces of music industry legislation recently that could increase royalty payments to music creators. But who knows when these initiatives will become law, or how effective they will actually be once they do.
Our mission with this white paper is to discuss the current situation for independent artists in the music industry and present a current solution to their biggest problems through Sound Legends’ integrated group of products, services and strategies all created and implemented by Sound Legends. The first section states our industry vision and the construction of the solution for the biggest challenges artists face. The second section presents the proposed blockchain architecture of our new platform, the development of the tokens created by Sound Legends and the specifications of the token offering. The third and final section provides an overview of the company, its team, strategies, and the developmental roadmap.