AMA content review
💗 Host:Cyrus, Hotbit AMA Host
💗 Guest:James Grey, CEO of LOUD MARKET
Cyrus: Let’s welcome James Grey, CEO of LOUD MARKET @JamesLoud to introduce【The First Music NFT Marketplace】to us in AMA. Thank you for being with us today. Let’s begin!
Could you introduce yourself to our community?
James Grey: Hi guys, I’m James Gray — the CEO of Loud Market Ltd, the British company behind Loud Market and the $Loud Token.
I am a Law graduate from the University of Bristol in the UK. Whilst I am English, I was born in Bangkok, raised in Singapore and only moved to England when I was 11. Here I spent my further education — I attended Sevenoaks School in the south of England before going to university. My life has meant I have had great exposure to a wide range of cultures and individuals and as such furthered my communicative ability.
As the CEO, I act as the face of the company. It is my role to translate our complex vision into digestible pieces of information that investors, musicians and fans can all easily understand. More than this, I must communicate with all aspects of the company with Tom to ensure that we all share a single, unified vision. My decisive nature means I act well under stress and assist in maintaining a general sense of calm within what is often a very hectic industry. I am a persuasive negotiator and as such head the company in discussions with partners, customers and investors. All of this aside, my main asset is that I am able to come up with solutions to problems that are so inherently effective that they sell themselves. Loud Market is exactly this.
My interest in music and gregarious nature have led to me reaching out and befriending many of my favorite low level artists, and as such I have begun to share their general disliking of how the music industry is currently structured. My passion for Loud derives from my love of music, and my love of musicians. I genuinely believe NFT technology will be the thing to liberate under-appreciated, and exploited musicians, much like it has done for visual artists in recent months.
My love of people means that I am always contactable in our telegram group, and I am always on the look out to share thoughts with likeminded people, and to learn from everyone else. Thanks for being here, I’m excited for our collaborative AMA.
Cyrus: What is the core concept behind Loud Market?
James Grey: Loud Market is the first, and most developed NFT marketplace for MUSIC! Central to our ethos is the issue of income. Distribution within the music industry — artists simply do not earn enough money from their work. Streaming has failed artists as a financial structure for music. Record labels and tech companies take the vast majority of all the profits, and this something that can be easily fixed through decentralization.
Loud Market is proud to announce we have 0% fees for artists when they use the $LOUD token. By allowing artists the keep 100% of the profits from their sales we are going to allow artists to own their work and inspire a whole new generation of creativity that has been lost since the development of streaming. Additionally, artists can add a “Royalty Fee” that guarantees them a specific % of all future sales thus facilitating the continued income from their works.
Cyrus: How does the business work economically if there are no fees on the marketplace?
James Grey: You are correct that artists will be subject to 0% market fees when using $LOUD tokens on Loud Market. This is one of our methods to encourage artists to try the NFT structure for their creative business.
Whilst this applies on the market place, there is a standard 6% tax that applies on all non-market transactions. 2% of this fee goes directly towards marketing and development. This tax applies when individuals want to transfer their $LOUD tokens into BNB or another currency. As such our economic model is derived from the tax on these transactions. Once tokens are removed from the marketplace (or just spent/transferred elsewhere) the standard token tax will apply. Please check out our website for further details on this token tax: LoudNFT.co
Cyrus: What mechanisms do you have in place to prevent copyright infringement?
James Grey: Loud Market will be a decentralized marketplace and as with all decentralized marketplaces there is always difficulty in artist verification.
We are in the process of developing a verification platform on our main webpage where artists can contact the company through other verified accounts, or with the specific relevant certification. They will then send their wallet address which will be verified by our team. Fans and NFT buyers can search the wallet address selling a specific NFT on our database to verify the legitimacy of these wallets.
Furthermore, it benefits artists to promote their NFTs to their fans and as such legitimate songs will be the most listened to and liked songs of any version. Finally we will retain the ability to remove NFTs from the marketplace, or mark them as “Potential Copyright Infringement” whilst under investigation.
Cyrus: How close are we to marketplace launch?
James Grey: Our V1 beta is live and testable on the TestNet, however we are incredibly close to releasing our V2 marketplace on the testnet for testing.
V1 focused on the back end and can be accessed at beta.LoudNFT.co whereas V2 focuses on the new UI that looks incredible. Photos of this new UI are in the @LoudMarket group.
Once this has undergone vigorous testing by our developers it will be launched on the MainNet. We believe this should be working within a week — that’s how close we are to making this work.
Cyrus: Do you have any corporate or music collaborations?
James Grey: We do not currently have any corporate partnerships. We have not actively sought out any corporate partnerships and instead have focused our energy on artist acquisition. We are very close to signing a very exciting partnership.
Our project is extremely early — it has only been trading for 6 days! Subsequently we have been focused on community development and acquiring leading industry members inside of the community.
Once we grab the attention of the masses the opportunity for corporate partnerships will become a very real option. Our decision to form these partnerships with depend on our community, and the moral structure of such corporations. Integral to our ethos is minimizing corporate profit over artist profit, and this simply does not fit in the structure of many big corporations. We believe by partnering with artists instead of corporations we will achieve the same marketing goals without being coerced into sacrificing our moral ethos.
Cyrus: How do you plan to expand the Loud brand and the services provided by Loud Market?
James Grey: The sky is the limit for Loud. We intend to expand this to every genre of music globally — and then to every aspect of every genre. We will first be incorporating music, then music videos, and then moving on to merchandise and artist sponsorships. We are very community focused and, upon community request, we have started building a Loud Radio Station to promote up and coming artists. Finally our long term plan includes expanding into live events and performances.
Cyrus: Now we move to the last segment of the AMA session public Q&A, Now let’s invite @JamesLoud to pick some good questions to answer.
@cdog123456789: Can I buy your tokens right now and also which wallet support your token? What is your revenue model? In which ways do your platform generate revenue/profit?
James Grey: Yes you can! You can currently buy it on PancakeSwap — but we’re listing on HotBit in 45 mins!
@supersizefries: Do you have AUDIT certificate or are you working to AUDIT your project, to make its security more secure and reliable?
James Grey: Our contract has been fully audited as you can see on our website. Our marketplace will be fully audited as a part of the testing phrase before full live mainnet launch!
@MaraSpeed34: Almost 4/5 of investors are focused purely on the price of token in short term instead of understanding the real value and health of the project. Could you tell us on motivations and benefits for investors to hold your token in long term?
James Grey: The token is inseparable from the marketplace. This is due to it being 0% fees when using Loud.
Our tokenomics means that 2% of each transaction is rewarded to holders as BUSD — thus rewarding holders during the use of our marketplace.
We also have a 1% liquidity and 1% buyback function.
@MuffinOfFun: Can you give us an overview of Project economics? Is the token designed to rise and fall with the success of the platform, and does it include any scarcity paths such as stake, store, or burn?
James Grey: The price of the project will fluctuate with the performance of the platform. We have a 6% Tax that is broken down in the following way:
2% redistribution Tax
This tax redistributes 2% of all transactions to $LOUD holders proportionately to the amount of tokens that they hold, thus rewarding you for holding $LOUD!
1% Liquidity Pool Tax
This tax distributes 1% of all transactions into pancakeswap liquidity to increase the ease of trading, and the value of $LOUD!
1% Buyback and Burn function
This complex algorithm stores 1% of all transactions until there is a period of price decline. At this point the SmartMath wallet uses the stored tax to purchase $LOUD tokens to reduce the fall in price. These purchased tokens are then burnt reducing total supply and increasing the value of each token.
2% Marketing wallet
This tax automatically converts into $BUSD to be used by Loud Market Ltd for artist partnerships, advertisement and other company costs! These funds will be invested into the company to increase the value of the market and subsequently the value of $LOUD.
@newsome_19: Can you list 1–3 killer features of your Project that makes it ahead of its competitors? What is the competitive advantage your platform has that you feel most confident about?
James Grey: 1) We are going to be the first Music NFT platform live. WE ARE FIRST
2) We have 0% fees on all NFT sales
3) We reward holders in BUSD (some individuals have received 1000s of BUSD every day!)
@aung889: As crypto users we don’t want to lose our assets to some scam projects that run away and disappear with our money so why should we invest in the your project as a long-term investment?
James Grey: We are fully doxxed, KYCd and a UK registered company. Furthermore, we have shown time and time again that we are to be trusted and our community has developed a strong sense of trust for us already! If we wanted to scam we would have scammed after the presale! (BTW we sold out 1000BNB in UNDER 4 MINS at presale)
@marufhasan9: Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?
James Grey: We have put careful planning and time into developing our legal structure, taking on executives to manage out budget and forming the foundations not just for a crypto project — but a full tech company.
@mominmiajllllp: I liked your project please answer my question:
Advertising for the project is very important, so do you have any ideas to bring the project to more people?
James Grey: We have big deals in the making regarding partnerships — unfortunately these are not things we can speak on until they are signed off. But we have been shown great interest by big players and will push forward with public announcements ASAP. Once these are announced this project will begin to fly to whole new levels
@Noproblembrah: Projects that are not traded on major exchanges remain unnoticed. What does you think about listing Project on the leading exchanges?
James Grey: We are listing to HotBit in under 1 week from launch. This is just the start. Our usecase means we will easily get listed on the bigger exchanges once our volume increases.
Cyrus: Thank you. The above is all for today’s AMA. If you want to know more about LOUD MARKET or have more questions about LOUD MARKET, please check
LOUD MARKET’s website and community links can be found here.
Official Website: https://loudnft.co/