KuCoin AMA With Sonorus (SNS) — Reshaping How Fans And Artist Interact with Music Through TrendFi

2023/12/15 10:54:42

Dear KuCoin Users,

Time: December 13, 2023, 12:00 PM- 1:11 PM (UTC)

KuCoin hosted an AMA (Ask-Me-Anything) session with the Co-Founder and CMO of Sonorus, Micka in the KuCoin Exchange Group.

Official Website: https://sonorus.network/

Whitepaper: https://sonorus.gitbook.io/sonorus-whitepaper/

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Q&A from KuCoin to Sonorus

Q: In your own words, could you explain what Sonorus is?

Micka: We are a platform for decentralized music voting and discovery that rewards music lovers, fans, and artists for interacting with our music charts. Our aim is to combine music trends and decentralized finance, which we refer to as TrendFi.

Our mission is to democratize music discovery and appreciation by allowing fans to go beyond just listening and actively participate by voting for their favorite tracks. As songs gain popularity, they rise on our charts, and those who supported them early on see the value of their support increase. Additionally, Sonorus provides artists with a platform for exposure and a direct connection with their fans. They can earn together with their communities through the voting engagement of their music.

Q: How does Sonorus work, and what innovations do you expect Sonorus to bring in the future?

Micka: Sonorus is all about revolutionizing the way we interact with music. At its core, it's a blockchain-based platform where Music lovers, fans, and artists unite. The Community gets to vote on the music they love, and these votes directly influence the music charts. It's like giving power back to the people. Compared to the current power dynamic in the music industry, it is monopolized by big labels and corporations.

At Sonorus, every vote adds value to a song, making the charts a real-time reflection of what our Community is vibing with. When Music votes are bought, their value goes up, and when they get sold, their value decreases.

Now, about the innovations we're looking at for the future, it's super exciting stuff! We're constantly exploring new ways to integrate cutting-edge tech to make Sonorus more interactive and user-friendly.

We're also looking at ways to expand our platform to support a wider range of audiences, artists, genres, and even localizations, making Sonorus a truly global music hub.

The goal is to keep pushing the boundaries of how technology and music can work together. We want Sonorus to be a space where music isn't just heard; it's experienced and interacted in a new way.

Q: What are the marketing or onboarding plans for popular music sources and musicians?

Micka: Our platform is unique because it allows anyone and everyone to add music to our directory. This inclusivity is a game-changer, especially for artists & musicians of any size. We're introducing a revolutionary way for artists to earn from their music, moving beyond the traditional streaming revenue model. This approach is designed to be fair and beneficial for the community and the artists.

But that's just the start. We're actively working on bringing more artists onto the platform. It's all about creating a diverse and vibrant ecosystem where established and emerging artists can thrive alongside the community. Our team is dedicated to this mission and constantly explores new ways to improve Sonorus.

If any artists are following this AMA right now, come to our Discord, and we welcome all of you with open arms.

Q: How does Sonorus tackle IP rights?

Micka: At its core, Sonorus operates not on the direct monetization of music but on the value added by user engagement. Sonorus is like the IMDB for music. Instead of making money directly from the songs, it's all about how much people engage with and support them. Just like on IMDB/Rotten Tomatoes, where movies get ratings and reviews, on Sonorus, songs get user support and votes. But here's the cool part: users get rewards for their support! So, while other platforms might play the song, Sonorus does not allow direct streaming on the platform; if users want to stream the music, they will be redirected to the original platform where the music is uploaded, benefiting the stream and playing on the original platform and thus the artists streaming revenue.

The key distinction here is that users are rewarded based on the voting system and not directly from the music. This aligns with platforms like IMDB, where the revenue stream doesn't stem directly from copyrighted content but from the added value users bring to the platform by supporting it through voting/reviewing.

Q: Will there be a specific place to use $SNS? Can we vote using SNS, not BNB, when voting for music sources on the Sonorus app?

Micka: Absolutely, these are some key aspects of our $SNS token that we're excited about. Firstly, $SNS is primarily a governance token. It means that holding $SNS gives you voting power in the future decisions that shape Sonorus. It's a way for our community to say directly about our journey and development.

But that's not all. We already released our staking feature to our node holders and will soon release this to the public. By staking your $SNS, you can earn additional tokens as rewards and a share of our protocol's revenue.

There is no current voting enhancement regarding using $SNS for voting on music within the Sonorus app, but we're definitely exploring this option. We're always listening to our community and evolving our features so they can be considered in the future.

Q: What's the most interesting part of the Sonorus ecosystem, and how will you strengthen that point?

Micka: One of the most exciting aspects of Sonorus is how it empowers both music fans (the community) and artists in a way that's quite distinct from other Web3 music projects. Our platform is designed for large-scale music fan adoption and music discovery. Unlike other platforms focusing primarily on music NFTs or music streaming, Sonorus emphasizes active participation. Users engage with music trends through a voting system, where their involvement directly influences the music landscape. This approach allows fans to be part of the music's journey and success rather than just passive listeners.

Instead of relying on traditional music rights, Sonorus rewards users for their engagement in the voting process. This aligns with models where the value is derived from user interaction, not just the content. Such a system enables us to broaden our directory rapidly, appealing to diverse audiences. It also makes a portal for music lovers between web2 and web3.

Q: What is Sonorus's long-term goal/vision?

Micka: The ultimate vision for Sonorus is to become the ''IMDb'' of music in the Web3 space, creating a platform that is universally accessible and rewarding for both users and artists. We aim to establish a comprehensive, user-driven music directory where every interaction, from discovery to appreciation, is valued and contributes to the broader music ecosystem.

In this vision, Sonorus aims to be more than just a Music Charting Platform; it's about being a dynamic hub where fans and artists come together, interact, and grow together. By leveraging blockchain technology, we're ensuring transparency and fairness and shaping a new model of music appreciation and valuation.

For users, Sonorus is a space where their passion for music is recognized and rewarded. They're not just a passive listener, but they are active participants who shape the music landscape. Their engagement, whether voting, nominating songs, or participating in community discussions, directly influences music trends and charts.

Free-Ask from the KuCoin Community to Sonorus

Q: Assuming I am a user or an investor, what aspect of the $SNS project makes me want to invest? What would appeal to me from the $SNS project?

Micka: Our platform uniquely allows you to build a music portfolio that can increase in value as other users support the same music. This feature taps into the power of music appreciation, turning your engagement with music into a valuable asset. It's not just about enjoying music; it's about being part of a community-driven trend that recognizes and rewards your musical taste and foresight.

Secondly, the upcoming SNS staking feature adds another layer of appeal, especially for those looking at the investment side of things. With the current Annual Percentage Rate for node holders over 200%, it presents a great opportunity to earn returns on $SNS.

Q: Do you have plans to expand your project to countries or regions with a language barrier? Is there a dedicated community in place to help them understand your project? This project seems fantastic!

Micka: Expanding our project to countries and regions with different languages is key to our growth strategy, as music is universal. We understand the importance of reaching a global audience and the need to overcome language barriers to make Sonorus accessible to everyone. To this end, we're continuously working on adding localized support within our community. It includes translating our platform's interface, resources, and communications into various languages, ensuring that users from different backgrounds can easily understand and engage with our project.

For example, in our app and white paper, we already support multiple languages; when we see the support from a specific localization grow, we will do our best to support all content in their language! Feel free to join our discord and join one of the specific localized channels already.

Q: The name of your SNS project seems fascinating. Is there a backstory behind it? Please enlighten us on the inspiration behind choosing this name.

Micka: This one is quite funny! Our project's name, "Sonorus," is inspired by a bit of magical whimsy from the world of Harry Potter. In the Harry Potter series, "Sonorus" is a spell to amplify sound, a fitting metaphor for what we aim to achieve in the music and blockchain space. We want to amplify the community's voice in music!

Q: Please provide us with your social media links to stay updated.

Micka: I like this question. Thanks for helping me with branding! Feel free to follow us a follow on our official social media accounts.

Q: Tell us about the upcoming updates for your project and what is the ultimate goal you aim to achieve?

Micka: Certainly! We're excited about the future of Sonorus and have several updates in the pipeline that will significantly enhance the user experience. Our development team is currently focused on introducing social features designed to bring more vibrancy and interactivity to the platform.

The upcoming social features are part of our continuous effort to evolve and improve Sonorus. We're always exploring new ideas and innovations to ensure our platform remains at the forefront of the music and blockchain space. So, stay tuned for what's next for Sonorus.

KuCoin Post AMA Activity — Sonorus

🎁 Participate in the Sonorus AMA quiz now for a chance to win $10 in SNS!

The form will remain open for five days from publishing this AMA recap.

Sonorus AMA - SNS Giveaway Section

KuCoin and Sonorus have prepared a total of $2,000 in SNS to give away to AMA participants.

1. Pre-AMA activity: $800 in SNS

2. Free-ask section: $50 in SNS

3. Flash mini-game: $400 in SNS

4. Post-AMA quiz: $750 in SNS

Sign up for a KuCoin account if you haven’t done so yet, and ensure you complete your KYC verification to be eligible for the rewards.

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