Recapitulation of AltoStream PROJECT AMA event held at AMA LOVERS CLUB.
Date: Tuesday, 16th November, 2021
Time: 18:00 UTC
The AltoStream PROJECT team was represented by @Bolinglo who judiciously shared with us detailed knowledge and information about AltoStream PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the team working on Altostream?
ANS: My name is Joshua, I am a senior software/blockchain engineer before I ventured into building Altostream.
I have an experience in digital banking and finance.
You can find more information about the project and the team building the Altostream project.
Q2: Can you introduce Altostream, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
ANS: Altostream was designed to let creators maximize the earnings from their work, with no gatekeepers, by using blockchain’s revolutionary tokenized economics to take control of the music industry back from corporate conglomerates and put it back in the hands of the creatives, curators, and listeners.
Why use Altostream instead of Spotify/Apple Music/Google Music for the listener?
1. Spotify is $9.99 a month for unlimited private or $15.99 for a family of 5. Apple is $9.99 a month for unlimited private or $15.99 for a family of 6.
2. Altostream beats that value by undercutting them on price early ($7.99 unlimited for a month) and having the $ALTO appreciation deliver long term fat tail growth
3. Listeners can earn tokens by supporting/growing the Altostream community Curation of music, aka playing DJ
4. If people subscribe to your playlists you earn a percentage of the streaming token value for each play
5. Early referrals of friends to Altostream earns you $ALTO tokens via the Popular token “Airdrop” model.
Q3: Can you briefly describe the top milestones you have achieved and your target milestones with timelines, also share your roadmap?
ANS: 1. We have Integrated web3 to Interact with ALTO smart contract
2. We have tested Payments Across Bridge
3. Users can use tokens to subscribe to listen to music on Altostream in Hi-Fi
4. Artists can now get rewards in ALTO and withdraw them across the bridge.
🍄 What happens next?
Iterate tests of milestone 1, 2, 3 and 4 on Mainnet.
Begin onboarding test users to mainnet.
We would also be launching our newly designed and improved mobile app.
We have some amazing smart features like audio fingerprinting and Dolby Atmos(for Spatial Audio) coming soon.
Altostream will be the first web3 music streaming platform to have spatial audio and audio fingerprinting.
2nd Segment: LIVE Questions
Q1: How can Altostream be an End to Exploitation of Artists by Giant Music Streaming Corporation ? How is Altostream different from Apple Music or Spotify?
Is there a free service on Altostream and would users be eligible to getting paid for listening to Music on the free service ?
ANS: 1. Personalized management of artist’s career (Don’t need a label to launch a lucrative career as a musician)
2. Altostream digitizes and platformizes “The Chance the Rapper model (Soundcloud growth → world-famous A-list artist)”
3. Artists earn a far higher percentage of their streaming revenue
4. Must be better than Spotify, Apple, Youtube, etc.
5. Artists are paid in an appreciating asset with built-in network effects $ALTO tokens
6. Encourages early adoption
7. Encourages community building between artists, curators, and potential managers and record labels.
Q2: Going through your website, I saw that you have a free subscription as well as a premium subscription of $5.99, can you tell us the difference between these two? The fee of $5.99 will last for how long and what do I stand to gain by having a premium subscription?
ANS: Free subscrition allows you explore a few features, while the paid feature unlocks more features like unlimited streaming of songs, High Audio Quality with Dolby Atmos, and some other amazing features.
Q3: Is there a criteria a music or an artist must meet up with to get featured on your platform? Asides hip hop and R&B, what other kind of music do you support? Can local artists also get the opportunity to upload their music on your platform?
ANS: Any genre of songs are allowed on Altostream. As an artist signed to a label or distribution compay, it is essential you own the right to redistribute your content before you can upload it on Altostream to avoid copyright infringement. Or can you simply ask your label to handle the distribution of your content on Altostream. Altostream is 100% supportive for local artists.
Q4: Hi Joshua
I created an account on altostream but I couldn't find my features there
So in what ways can I earn passively on ALTOSTREAM, how do I start making money from
-sharing, what are the requirements needed
Is there any guide like video tutorials on how to use your platform. ?
ANS: We would be providing tutotrials and guides for users, on how to use the Altostream platform.
Q5: DON'T YOU THINK ALTOSTREAM IS COMING LATE INTO THE GAME ?
Spotify, Apple, Amazon, and Google all offer elite-engineered streaming music service. Are you gonna beat these guys considering the Millions at their disposal ?
ANS: We are in fact early... This is web3, Apple Music and Spotify are not in the web3 space. But Altostream is early for the ride.
Q6: Security and anonymity are always prioritized by BlockChain projects in the development of project platforms and technologies. So, do you have any technological solutions or plans to enhance user trust in these issues?
ANS: We are using the most advanced encryption tecnhiques in handling sensitive data of our users. The payment infrastrucure is fully reliant on the blockchain, users are gonna be given the option to hold full custody of their assets. We are reliant on our cloud computing infrastructure by also following best practices with continuous integration and deployment.
Q7: What network does the beta web app for artist services have and will it be expanding to other networks in the near future? What tools are in said application? Are you open to the possibility of adding more tools to the application or does the application already have it all?
ANS: We have currently integrated Avalanche and Conflux. We started with this two cos they process transactions at 3000-6000TPS.
We would make our APIs public for developers to build amazing ideas of their own in media and web3.
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