The problem MusiCo solves

Web3 technology, driven by blockchain and smart contracts, offers a transformative solution to longstanding challenges in the music industry. The traditional model relies heavily on intermediaries, leading to limited revenue sharing and lack of transparency in royalty payments. Centralized control by major players hinders independent artists' recognition and success. Web3 music platforms aim to decentralize distribution, giving artists greater control over their work and earnings. Smart contracts enable secure and transparent interactions, automating revenue sharing and ensuring fair compensation. Fans can directly engage with artists, fostering loyalty and community. Key steps include user-friendly platform development, fair token distribution, and governance through DAOs. Intellectual property protection, interoperability, and community building are vital for success. Overall, web3 technology holds the potential to create a more artist-centric and inclusive music landscape.

Challenges we ran into

As newcomers to the web3 technology, your team's journey into the decentralized space is commendable. Building smart contracts and delving into blockchain development can be a daunting task for those unfamiliar with its intricacies. Understanding Solidity, the language of smart contracts, and mastering the principles of decentralization require a dedicated effort.

In addition to grappling with smart contract development, connecting these contracts with a user-friendly and seamless user interface (UI) presents its own set of challenges. Ensuring that the frontend effectively interacts with the backend logic, and dealing with asynchronous calls and real-time updates, demands a skillful and innovative approach.

Moreover, integrating user authentication with popular blockchain wallets like Metamask is a crucial aspect that requires careful consideration. Maintaining a smooth and secure authentication process while respecting user privacy necessitates a deep understanding of blockchain protocols.