PENTA is a Web3 Music Player that enhances your music life.
PENTA transforms the everyday activity of listening to music into a new and exciting experience through gamification and economics. We competed in the Astar Network Hackathon in May 2022 and won the main prize, the Astar Network Award, out of over 60 projects.
We aim to democratize music.
Since about 2018, more and more musicians have left major labels and management to work as independents. This is mainly thanks to individual-focused platforms such as SoundCloud and Spotify. Independents already account for more than 60% of the global market share.
In addition, this is not only in music but also in the arts and entertainment around the world, where individuals are creating a trend of success.
However, there are several problems that go along with this.
The first is the issue of copyright protection. In the music industry, however, the more famous you become, the more free riders will try to copy and impersonate you, and as OpenSea shows, this is even more pronounced in the crypto world, where there is data transparency, personal anonymity, and the speculative aspect of creativity that makes it easier to exploit your work. Under these circumstances, musicians have no choice but to rely on a centralized intermediary or give up and accept the situation because they cannot identify the owner of the address.
The next most common problem is the creative dilemma or marketing problem. Musicians need a lot of help to create great songs, and that involves a lot of money. Furthermore, in order to spread the songs they create, they need even more marketing techniques and money.
PENTA DOES solve these issues.
PENTA wants to provide a mechanism to protect musicians in the Web3 world. The entire composition process of a musician is recorded on-chain to verify that the song is his/her own. In addition, PENTA's utilities and blockchain technology support activities such as songwriting, music video production, and live performances while earning money.
This fan-driven project subsidizes musician-driven projects like Sound and Audius and is the first project to approach the autonomous decentralization of the music industry from a utility aspect.