Corite (CO) is a Swedish music and tech startup founded in 2018 that has its own distinct approach to funding artists.
Dec 12, 2023 00:00:00
Dec 30, 2023 00:00:00
ICO Details
What Is Corite?
Corite (CO) is a Swedish music and tech startup founded in 2018 that has its own distinct approach to funding artists. It works by letting fans invest in music and get a share of streaming profits, becoming an integral part of the journey from product creation to implementation.
Corite Unique Features
Corite is a digital distributor operating in the same space as TuneCore, United Masters and Ditto. But the platform has its own differences – Corite gives fans the opportunity to invest directly in their favorite artists and then receive a fraction of the money that is paid to artists in future royalties. In this way, each fan plays a kind of record label role, funding and in return financially benefiting from potential success. Cash rewards are paid in the form of royalties from Spotify and Apple Music.
Before announcing the amount artists want to raise for their creative products, Corite first rate songs based on streaming history and predictions, and set the percentage of streaming royalty that investors will eventually receive.
The advantages: the system allows fans to be financially motivated by investors, which adds the chances for the track’s success. The Corite platform uses a set of tools based on gamification, speeding up the whole process and making everything efficient and fun for the user, thereby increasing the effect of network marketing.
Corite has more than 150 campaigns and millions of streams on its platform. Artist collaborations include Danny Saucedo, Sabina Ddumba, Kid Travis and King Charles.
The founders believe that the new music industry would be driven by independent artists, and with the support of Corite, artists can showcase their creativity and enter the music market without the help of traditional record labels. Moreover, the platform not only funds fans, but also distributes music on Spotify, Apple Music and YouTube.
Roadmap
Q4 2021
$CO token & corite originalsNFT drops
Public launch of the $CO token
Corite Originals, basic version
Q1 2022
Fan funding & marketplacePlay to earn
Fan funding with royalty on blockchain
Crypto investments in artists
Q4 2022
Artist social tokensClubs
Artist tokens
Community tokens
Corite Token Economy
Detailed Token Metrics
Seed Price: $0.022
Private Price: $0.03
IDO Price: $0.035
Token Distribution
Token Release Schedule
Seed Round: Lock-up 10% Released at the Token Generation Event, with a 3 month cliff, then linear release over 12 months (15 months total).
Private Round: Lock-up 10% Released at the Token Generation Event, with a 3 month cliff, then linear release over 12 months (15 months total)
IDO Round: No Lock up
Partners & Advisors
Team Members
Investors
Updating…