NEWM

Overview

NEWM is a blockchain-based music platform that aims to revolutionize the music industry by providing artists with direct ownership and control over their intellectual property. The platform utilizes smart contracts to enable artists to tokenize their music rights and receive fair compensation for their work.

Purpose and Utility

The NEWM token serves multiple purposes within the ecosystem: governance rights for platform decisions, access to platform features, and representation of fractional ownership in music rights. The platform allows artists to mint their music as NFTs and receive royalties directly through smart contracts.

Business Model Analysis

The business model focuses on creating a transparent and fair marketplace for music rights, which aligns with Islamic principles of fair trade and transparent transactions. The platform does not involve interest-bearing mechanisms or gambling elements.

Current Adoption and Usage

NEWM has launched its main platform and has onboarded several artists. The platform has demonstrated actual utility through successful music rights tokenization and royalty distributions. While adoption is still in early stages, there is evidence of real-world usage aligned with the stated purpose.

Development Activity

The project maintains active development with regular updates to the platform. The team consistently releases new features and improvements, indicating genuine effort to deliver on their roadmap.

Token Distribution

Token distribution includes vesting periods for team members and early investors, showing commitment to long-term development. While exact percentages are not publicly available, the distribution structure appears designed to support platform development rather than quick profit-taking.