21 July 2022
How NEWM Is Democratizing The Music Industry With Web3 & Decentralization
NEWM is a decentralized project that aims to be The Future Of Music. By leveraging the Cardano Blockchain and Web3 technology, NEWM allows music artists to own, sell and distribute their intellectual property without ever losing control of it. The technology will create an entirely new asset class, merged with a Defi platform. This intends to fully disrupt how the music industry and sinister contracts work - giving freedom back to artists.
The main challenge presented itself after NEWM’s core idea was mapped out. The project required the NEWM team with the help of Matej Kult (CEO of AIKIT) to precisely define roles, features, and functions and prepare the framework for their development. Decentralized projects run on blockchains, which are publicly accessible and bulletproof, which meant the platform’s core had to be coded and audited before being deployed. This required a level of expertise few smart contract developers possess.
Matej Kult joined the project as a strategic advisor in charge of business and IT development. He and his Team at AIKIT helped NEWM to define the scope of the project and assess the potential risks. Based on that crucial data, under his supervision, the NEWM team then developed safety countermeasures to account for every single one of those potential risks. Matej also helped with his deep knowledge and fast experience to design the entire development plan in phases so the commercial roadmap could be met for investors, artists, and users. Putting the right team in place was also an obstacle - but Matej´s & AIKIT’s expertise swiftly gathered a bespoke roster of pros with the skills and seniority to succeed.
The team was put into place in less than two months. And the entire development plan was strategically segmented into independent phases that enabled the company to fulfill its launch plan.
A careful control system on royalties and token flow was mapped out, developed, and audited, to make sure the MVP was seamless.
"Matej's vast and broad knowledge of software development, leadership, and project management has helped us at NEWM to structure schedules, hit deadlines, and get the best results with limited resources. We look forward to continuing to be supported by Matej and AIKIT as our Business Advisor and as a Partner to help us in the next growth phase."
NEWM Founder & Co-CEO, Florian Sorg