Altcoin Alerts x Corite AMA Recap
Altcoin Alerts Community had an Ask Me Anything session with Alex (Business Development & Marketing Manager) from Corite on 6th Apr 2022
Segment 1: Corite Introduction & Q/A with Altcoin Alerts Team
Altcoin Alerts: Hey Alex
Welcome to Altcoin Alerts Community
Alex: Hello! Thank you for hosting!
Altcoin Alerts: It is great to have you today
How is it going?
Alex: According to the market condition I am fine, but not the best 😀
Altcoin Alerts: Wishing you to be the best
Alex: For all of us 💪
Altcoin Alerts: Moving further
Altcoin Alerts: Okay
Let us start with introduction.
Can you please introduce yourself & your journey in the cryptocurrency field? Also, please introduce Corite.
Alex: I’m the Business development and Marketing manager and I’m an experienced crypto guy with many years in our industry.
We are building a world ruled by independent artists who are supported by their fans. Corite is not a record company. There is no A&R (the department responsible for finding talents in the classic label), no trendsetter, no sleazy fine print. We want to create a new music industry of people without whom the artist cannot exist — his fans.
We help independent artists. In the past, in order for a musician to get into the listener’s player, he had to go to labels, where conditions were not the most favorable for them. So in fact, we’re pushing out the middlemen between the musician and his fans. Plus now, fans of the musician can receive a percentage of streaming. In other words, to be an investor of his favorite artist.
Altcoin Alerts: This sounds interesting!
Let’s know more about it.
How can an Artist and a Fan contribute and earn using Corite platform?
Alex: There are multiple ways. The artist’s primary contribution is the music they create and share with the community to back. The primary contribution from the fan is backing through money and through activity. Earnings come from a mix of revenue from the streaming services, NFT trading and rewards for activities.
Altcoin Alerts: Awesome
Is Corite app available on App Store and Google Play?
Alex: Yes sure! You can download it :
Altcoin Alerts: Nice
For everyone who is interested Corite now, when can we expect Corite (CO) token launch? Also, please share tokenomics, partners, backers etc.
Our community member made a good explanation banner, but more details you can check on our foundation website — corite.org and whitepaper is there too.
We are planing our TGE this quarter, and a lot of big announcements will be very soon as well.
Altcoin Alerts: That’s exciting!
Alex: I wanna add a bit more about music connections and backers.
Since our CEO — worked as a commercial director of Universal Music Scandinavia, we have good contacts in the music sphere and very soon you will receive announcements about working with world-class artists.
It is worth noting that from the very beginning we have been supported by the HITCO founders — Charles Goldstuck and LA Reid , as well as Rico Love (Beyonce’s producer), under the production of which we have released a number of Fan Campaigns on the platform.
Altcoin Alerts: Amazing
Segment 2: Twitter Questions
Q1. What Corite revenue model? In which ways do you generate revenue/profit?
Alex: Corite charges 5% of the capital we help finance and also 5% of the revenues generated from the streaming platforms for all music we release. In our new blockchain platform we will also have revenues from NFT sales. We will be a decentrelized platform ruled by the artists and backed by the fans, cutting a fair share of the revenues. We think this will be a very competative model that will disrupt yhe music industry in its foundation.
Q2. I noticed that Corite have partnered up with the project “ChromaWay” that is associated with gaming projects such as “My Neighbour Alice” and “Mines of Dalarnia”. Would you please elaborate to us your relationship with ChromaWay? How does Corite and ChromaWay work together?
Alex: ChromaWay is very successful in creating the gaming projects you mention. They are part of our development team and very senior people such as their CTO Alex Mizrahi is part of our advisors. We also collaborate around Play to Earn models and finding fun and relevant partners. ChromaWay is also one of the investors in our future $CO token.
We are working very close with them as our head offices in Stockholm.
Q3. What differentiates Corite from other music content platforms such as Youtube Music, Deezer or Spotify?
Alex: We are not a streaming service, you should rather view us as the future blockchain based label, ruled by artists backed by fans. We don’t plan to put the actual media on blockchain, but who knows what the future holds. We’ll use the blockchain for smart contracts, ownership of unique content and rights, proof of quality and more. If it can make the artist and fan be more independent, we will go for it. What makes us truly unique is our play to earn model.
After all, we are not competitors, but rather potential partners. We are a platform through which musicians will get to such sites as Spotify.
Our platform in its current fiat form has the following main functions:
This is a fundraiser for the release of the song, which will be posted on streaming platforms, including Audius.
We also provide distribution services with transparent mathematics.
Q4. Will there be a screening or censorship function in the platform?How will you ensure that the music/artists are real,and the works are not plagiarised? Will “Corite” have any copyrights to the work released through the platform?Or will it solely remain with the artist?
Alex: Yes. We are already doing this using a combination of tech and manual moderation as we are distributing music to Apple Music, Spotify, TikTok, YouTube and all major streaming platforms on the planet.
Segment 3: Corite Q/A with Community
Q1. How old is Your project? What are the major plans ahead? Could you show to us image of your roadmap?
Alex: Our fiat product was launched in 2019 and currently there are 25,000 registered users on the corite.com platform and Fan Campaigns raise funds for artists every day. We have released thousands of songs and already helped many artists and backer to join forces in successful projects.
We did a successful NFT digital merch sale, which was presented at Times Square. Thanks to it we raised $200k for the release and promotion of Emery Kelly, an american independent artist. We are listed among the top most promising projects of 2022, top upcoming IEO/IDO and top NFT projects of 2022.
Q2. According to the roadmap, what are your most important next priorities? Does your team have enough funds and strong community to achieve those milestones?
Alex: First simple step is of course to allow current and new users to connect their wallets and being able to do their first Fan Missions: activities that will make users get Fan Power points.
Other top priority is our TGE.
Other than that we’re working hard on our major announcement and partnerships that we will share sooooon.
We believe we have the funds to do what we need to do, but we are still looking to expand our team of developers and different management roles, particularly within gaming.
Q3. Many projects have UI/UX issues, and this one discourages new users. How do you intend to increase contact with new users and people who aren’t in the crypto world?
Alex: We have built many user products over the years, and agree of course. This is at the heart of what we’re trying to achieve: merging music fans with crypto fans. As our team is plugged into both communities, we believe we are very well positioned to pull it off.
Q4. Can you share your social media links so we can keep ourselves updated?
Alex: You can find main links here https://linktr.ee/Corite
Social media is very important for us.
First of all, I would recommend you to subscribe on our:
Instagram — https://www.instagram.com/corite/
TikTok — https://www.tiktok.com/@corite
to know all about music and artists on our platform
For Crypto news:
https://twitter.com/Coritecom — Twitter
Telegram — https://t.me/corite_announcements
https://t.me/corite/ — chat
Q5. Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place?
Alex: Our token contract has been audited as this is a requirement as part of the listing process. Other than that we’re trying to use as much tried and tested code and, most importantly, we have extremely experienced developers in the ChromaWay team reviewing before going live.
Corite Useful Links:
Telegram Group: https://t.me/corite
Telegram Channel: https://t.me/corite_announcements
Altcoin Alerts Useful Links:
Telegram Group: https://t.me/AltcoinAlertsChat
Telegram Channel: https://t.me/Altcoin_Alerts