K-Tune is a blockchain-based platform for global music producers focusing on K-pop. The platform is a community for musicians from around the globe to collaborate and truthfully express themselves. K-Tune aims to become a medium for all artists around the globe to trade their talent and content for financial gains. K-Tune allows professional and amateur musicians to write songs and trade them.
According to the whitepaper, K-Tune founders have realized that the entry barrier is relatively high for all the artists who want to jump into the K-pop scene. Here are the following obstacles and their solutions offered by the K-Tune ecosystem:
K-Tune masters are renowned producers affiliated with K-Tune who have written popular songs for K-pop artists. K-Tune masters are available for users looking for professional help and guidance in the process of songwriting and music-making process.
Camp is a public platform where K-Tune users can find partners and collaborate with other users. After the collaboration, the selected partner receives a reward and a share of the completed song.
The Arena is a public marketplace where all users can trade their work: track, topline, instrument arrangements, lyrics, and more. The platform also allows users to set their prices and control licensing rights. Further, to support all these activities on the platform, K-Tune launched its cryptocurrency, the KIT token.
The KTT token is an ERC-20 token of the K-Tune platform and is used as means of transaction for K-Tune users. Users can purchase KTT either directly from the K-Tune platform or via exchanges available on the platform. Token holders can store the KTT tokens in the users’ wallet. KTT is a tradable asset the coins’ owners can use for trading. The platform applies 15% of the transaction fees every time a user withdraws KTT coins to receive traditional currency. K-Tune is entitled to receive 20% of the revenue generated on external platforms such as YouTube from the content uploaded by its users.