Frequently Asked Questions

GENERAL FAQ

What is Soundeon?
A pioneering, patent-pending, blockchain-based decentralized and vertically integrated music platform that covers all aspects of the music business, from rights registration and funding, to distribution and live ticket sales. Soundeon is the first ever, vertically integrated and decentralized music environment.
How is Soundeon different from other blockchain music projects?
Being a vertically integrated and decentralized means our platform covers the entire creative life cycle of between artist and fan. Existing and upcoming competitor projects all tend to focus on fragmented solutions to a systemic problem. At Soundeon we believe in the power of holistic ecosystems and structured, layered approach to eradicate malpractices plaguing the music industry. From song funding, registration and distribution, to an existing IP marketplace with price discovery, to a ticketing platform that not only controls the primary market, but utilizes the latest smart contract code to manage the ticket resales. Moreover, Soundeon is the first platform to unleash the potential for deep analytics by integrating the historically segregated recorded rights management and live event ticketing industries. Lastly, the use-case for our proprietary, patent-pending Creative Smart Contract™ extends to all types of intellectual property.
Who operates Soundeon?
Soundeon is operated by Soundeon OÜ, an Estonian company ideally located in one of the most exciting emerging digital hubs with a vital digital ecosystem.
How blockchain technology benefits Soundeon?

Built on the proprietary Ethereum-based protocol, Soundeon utilizes its patent-pending Creative Smart Contract™ an environment that is uncensored, immutable, fair, transparent music rights management and ticketing environment that addresses the long-standing problems plaguing performing artists and fans alike.

Blockchain technology empowers Soundeon to tackle foremost problems plaguing the performing arts industry with radical transparency, automation, equitable ownership rights management, enhanced artists funding mechanisms and fair event ticketing. Soundeon Protocol ensures that all transactions are performed in an immutable, secure and trustless manner using self-executing smart contracts.

Why have you filed to patent your technology?
On April 27, 2018, Soundeon Platform inventors have filed a non-provisional utility patent with the United States Patent and Trademark Office. Patent-pending status provides Soundeon and its users with intellectual property protection for its leading-edge approach to resolving media rights management. Users can now be assured that the Creative Smart Contract™ technology will remain accessible to everyone and that no other company on the market can interfere with this original intention.
What is the Creative Smart Contract™?

The patent-pending Creative Smart Contract™ provides novel systems and methods for intellectual property ownership rights management, funding and ticketing on the blockchain and peer-to-peer. Artists have full control of their creative output from the very inception to the copyright, distribution, royalty collection and distribution of the intellectual property works as well as event ticketing.

This is accomplished through the utilization of decentralized stores and a series of smart, self-executing contracts; collectively integrating a number of systems and methods into a single environment intended to vertically integrate the media rights management and ticketing industries. The use-case of this technology extends to all types of intellectual property.

TOKEN SALE FAQ

Token Sale Details
Token Sale (Round A)
30 August – 30 October
Minimum $70
Bonus
10% from $70
20% from $1000
30% from $10,000
What are the specifications of the Soundeon Token?
  • Smart contract platform: Ethereum
  • Contract Type: ERC20
  • Token Ticker: SOUNDEON
  • Token Name: Soundeon Token
  • Total Issuance: Finite and capped at the amount reached after the Token Main Sale
  • Maximum number of tokens issued: 1 billion
  • Unsold and Unallocated tokens: Will never be issued. Our smart contract mechanism is designed to issue tokens on-demand basis. No further SOUNDEON tokens will ever be generated after the Token Sale ends.
What is the Soundeon Token?
The Soundeon protocol token – the Soundeon Token is a vital utility tool used to align economic incentives amongst platform participants. Simply put, the Soundeon Token is a payment mechanism for services to be rendered on the Soundeon platform. Operational services provided by Soundeon will incur some transactional fees playable in Soundeon Tokens. Fees may be incurred by content providers (i.e. intellectual property owners or service providers) and well as the content consumers (i.e. listeners, ticket buyers), depending on the platform layer.
What is the use-case of a Soundeon Token?
The introduction of Soundeon Tokens on the Soundeon platform is justified by the need for reduced transactional cost to render micropayments economically viable as well as streamline and simplify on-chain transactions. Micropayments, in turn, are essential for the strategic goals of the Soundeon platform to bring accessible royalty ownership to large number of fans at once. Soundeon Token may be used to incentivize and reward early adopters that add value to the platform through network effects.
What is the Token utility?
  • Platform payment mechanism
  • Fair-play guarantee
  • Bootstrap network effects
  • Trade artists’ coins
Where can I find information on fund allocation?
You can find out about how we’ll be using the Token sale proceeds in our one-pager and whitepaper.
Will there be a vesting period?

Not for token sale purchasers. Only for the following categories:

  • Founders: 18 months with 12-month cliff
  • Early Backers: 12 months
  • Advisors and Ambassadors: 6 months
  • Artists’ Manifesto: 6 month with monthly cliffs
  • Private Sale/Presale/Crowdsale: no vesting or hold period
What currencies are accepted during the Token Sale?
Participants are able to contribute ETH (Ethereum), BTC (Bitcoin), LTC (Litecoin), and BCH (Bitcoin Cash).
Who can participate in the Token Sale?
Everyone, except for permanent residents and citizens of the United States, Singapore and other countries or territories where transactions with digital tokens are prohibited or restricted in any manner by laws and regulations.
Will you have an escrow for the Token Sale?
Certainly, an third-party escrow will be used.
What are the Token Presale benefits?
Early supporters of Soundeon that participate in the token presale are rewarded with token bonuses varying between 10 and 30 percent of the purchased amount.
What is the Soft Cap and Hard Cap?
Soft cap for Round A is equivalent to US$3,000,000 and hard cap equivalent to US$16,000,000.
Why is your gap between Soft Cap and Hard Cap so large?
At Soundeon we are conservative and pragmatic, hence we wanted to ensure the most efficient use of resources to develop our Platform. Depending on the amount raised in the Token Sale, we will develop specific layers of the platform. For the initial phase of the development, $3,000,000 is the minimum required amount. For a fully-fledged five layer platform, more funds are needed to finish the development process. Each of the five layers constitutes an economically self-sustainable vertical. The more layers are developed, the bigger Soundeon’s ecosystem becomes, and network effects take over.
Are you having a Private Sale?
Yes, we are conducting a private token sale for institutional (including crypto funds) and high net worth participants. The minimum investment amount is $10,000. To learn more, please email us at [email protected]
When will Soundeon Tokens be listed on an exchange?
Soundeon has already signed a memorandum with Bancor to ensure that Soundeon tokens are easily purchased and sold via Bancor’s relay mechanism. This was done to ensure Soundeon Token’s convertibility from day one. Soundeon’s strategy is to list on leading exchanges on favorable terms once our token sale concludes.
Are Token Sale dates set in stone?
The dates are set, and we reserve the right to modify token sales dates in order to achieve optimal market conditions for the long-term benefit of our Platform.
I want to buy Soundeon Tokens, what is required?

In order to participate in our Token Pre-Sale and Token Sale, you will need to register on Soundeon’s Token Sale page, have a digital wallet and provide some personal information required by our KYC provider:

  • Name, email, date of birth, citizenship, place of residence
  • Proof of identity (passport or official government ID)
  • ERC20 digital wallet
How is the Token Sale conducted?
  • All token sale participants will have personal cabinets where they can purchase Soundeon tokens.
  • It is possible to pay for tokens with ETH, BTC, LTC and BCH.
  • Each participant need to specify ERC20 compatible wallet address to receive Soundeon tokens after a transaction and successful KYC verification.
  • The Soundeon Smart Contract code has been independently audited by an independent third-party smart contract auditor SmartDec.
  • Our token sale smart contract allows a refund in case the soft cap is not reached.
When will the distribution of tokens take place?
The tokens will be distributed immediately after successfully completing the KYC procedure to meet the conditions of our Token Sale. KYC takes place when the token purchase transaction is initialized.
Is there a KYC?
Certainly, in line with industry best practice we are conducting a KYC (know-your-customer) procedure with an industry leading independent-third party provider – SUM&SUBSTANCE. ``
Do you have an MVP?
Of course, our alpha was released in April 2018. Currently, our beta version is life, Soundeon welcomes you to test it at https://platform.soundeon.com. The beta is a contest version of our Music Token Sale layer where artists submit their campaigns and invite their fans to cast their tokens. The voting mechanisms is a blockchain-based smart contracts hosted on the Ethereum environment.
Where can I find your whitepaper?

Our white paper is available on our homepage and the following link:
https://soundeon.com/Soundeon_WP.pdf

For additional questions please email us at [email protected] or join our telegram at https://t.me/soundeon