What's Rocking This Week on BlockTunes- Development Update

Hello music lovers! It's been a little while since we have have made any posts. We have spent some time streamlining things and making sure that the website is finished up, at least with the parts that we are focusing on going forward. Sometimes taking a step back helps you see the bigger picture.

In this post we will be discussing some developments that are in the works as well as some things we have had to change as far as token payout structure from the DAO.

The Cuts- Let's Get The Bad Stuff Out Of The Way

First off, we have had to cut the DAO payout plans for a couple of reasons...

• DAO hasn't been profitable to date, so there is nothing to pay out.
• BlockTunes is based in the United States, and well, paying out dividends from our profits seriously lands us in securities territory, which at this point we are trying to avoid.

This leads to the scrapping of the issuance of the BTUNES token for releases and such. But that token is not scrapped... We have some ideas on how to use it, just trying to figure out how best to do that.

The Developments- On To The Good Stuff

Review and Playlist Submissions

We will be adding in forms for artists to submit music for us to review on our blog as well as submit to be added to our playlists that we will be creating on various services like Audius and Spotify, as well as added to our Discord playlist! We will be promoting these playlists through our blog and other social media platforms.

Building a Marketing Plan

We are finally trying to build a constant marketing plan that will just incorporate more social media presence across different mediums like Facebook, Instagram, and YouTube. This is in addition to beefing up our Hive and Twitter content. As reluctant as we are about using Web 2 platforms, they are the only funnels to help drive people our way.

Our plan is to be using the @dbuzz app to help promote notable artists that we find, as well as using for short form tips such that can easily be shared to our Twitter profile, so we are posting in 2 places at once.

MUSIC Token Staking NOW LIVE!

We announced this in our last post, but wanted to remind you all that MUSIC token staking rewards are now live though the Hive Engine smart contract system which is decentralized by the witness node structure. Our founder, @thelogicaldude is a ranked Hive Engine witness and would love your witness vote to help keep things alive! Actually the 1000 BEE payment to start the staking contract came directly from his witness payout rewards.

Staking your MUSIC tokens will put you in the rewards pool lottery. The more tokens you have staked, the more 'lottery tickets' you have for a chance to earn part of the rewards pool for the day, similar to how miners work in a proof of work system. More hash rate they put out, the better chances at hitting a block.

The delegation payouts for those delegating Hive Power to @blocktunes or @blocktunesdao are still handled though our own payout bots.

Token update posts will start coming every friday from the @blocktunesdao account. So make sure you are giving that account some love!

Looking At Starting Our Own Video Platform

One of the developments we are looking into is launching our own decentralized video platform that connects with Hive using the Peerplays platform. This is all thanks to the @hive-tube protocol that we discovered from @kencode. The server costs are really the only thing keeping us from diving into it at the moment as again, funds are super tight right now (just being transparent, haha).

If we can find room in the budget for additional server costs, this is something we are looking heavily into to allow BlockTunes musicians a way to stay in our ecosystem to post music videos! We love the guys at 3speak, sure, but hey, why not have more options out there! More on this to come.

In Conclusion

We have been quiet, but far from gone. We are just looking at the crypto space on a bigger picture and trying to decide on how best to navigate not only the markets, but also regulations, etc.

On top of it, we are trying to figure out the best angles to attract new artists to the platform, and to Hive. Hopefully our new social media plans will help in that arena.

NFT MARKETPLACES | WEB 3 MUSIC SOCIAL MEDIA | WORLDWIDE MUSIC DISTRIBUTION

BUILT USING THE HIVE AND POLYGON BLOCKCHAINS

https://blocktunes.net

Follow Our Curation Trail

Follow our curation trail on Hive.vote and rack up some rewards when we vote on awesome music content on the Hive blockchain! If you have some $MUSIC tokens staked in your Hive Engine wallet, then you will participate in the distribution of our awesome community token and earn more that you can use to buy $MUSIC NFTs!

Delegate HP and Earn $MUSIC

Delegate Hive Power to either @blocktunes or the @blocktunesdao and earn 0.05 MUSIC tokens for every 1 Hive Power delegated, plus receive tiered automatic votes and a follow from the @blocktunes account!

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Support by voting for the @blocktunesdao Hive-Engine Witness with WORKERBEE stake at Tribaldex