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Introducing Limelight Music
Limelight Music is an ecosystem that is built to empower talented musicians by providing them with the exposure they deserve, while allowing music fans to discover music voted by the community.
Limelight is an ecosystem meant to transform the currently very centralized music industry into becoming fully decentralized by empowering independent, talented musicians; by letting the people decide on who truly deserves the limelight through algorithmic music discovery.
The Limelight Protocol consists of the following components:
- 1.An efficient token economy powered by the Limelight platform token ($LMLT), Clout Token ($CLOUT), and the staked version of Staked Clout Token ($sCLOUT), as well as stable-coins for payments.
- 2.A ledger of microtransactional engagement data that ensures music engagement is authentic.
- 3.An algorithmic-discovery smart-contract that queries music metadata based on the microtransactional engagement data, as well as the music preferences of each user.
- 4.Tokenized digital distribution with fully trust-less royalty management & payment capabilities.
- 5.An NFT music marketplace meant to revolutionize the way music is released and how musicians generate revenue from it.
- 6.A decentralized governance protocol, whereby holders of $LMLT have the power to vote on changes to the present and future of Limelight’s ecosystem.
- 7.A consensus mechanism that incentivizes users to create and vote on music that deserves recognition through bonding their $CLOUT for artist tokens.
- 8.Music Promotion Bounties for those who have influence in the music industry.
- 9.Location based music for those who are interested in discovering local-talent, and even for the purpose of scouting for interest of a particular artist in a certain region.
- 10.Tokenized event tickets for music events, verified on the blockchain for authenticity.