Skyhitz plans to offer music creators a peer-to-peer marketplace were they can mint and trade music NFTs on Stellar and IPFS. We are a non-custodial organization that helps fund and support music creators by giving them the power to own and hold their creative assets without central authority or middle-man.

We facilitate transactions between fans and artists on the Stellar Network to grow and support a community that loves music. We aim to expand our reach to all music creators globally and bring equitable access to quality music through the power of decentralized technology.

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Alpha. 700 sign ups, 1200 Followers on IG. Only raising funds from SDF, no other investors.

PROBLEM & SOLUTION

Creators don't have a good way to manage their music rights and raise money if they need to without having to give away most of their intellectual property. Skyhitz gives them the option to raise equity from their fans in exchange for a percentage of their creations.

How Skyhitz uses Stellar

We use Stellar for managing and issuing assets that creators can control without the need of a third party or label in between. We are a non-custodial organization so creators will always have access to their assets, anytime.

TARGET MARKET

Music creators are spread all around the globe making it great for distributed organizations to offer them services. Our power users are mostly young producers that want to show their talent to others without the need of labels or large promotion teams. The younger the producer, the more willing they are to try our service and share it with their friends.

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REVENUE MODEL

• Monthly subscription
• Sell in-app credits so users can purchase shares of creations

PRICING STRATEGY

• $7.99 per month
• 3.1% on fiat to XLM transactions

SALES FORECAST

• 95k ARR by end of 2022

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FINANCIAL PLAN

• Break even - seven months after launch date
• Costs
• Engineering
• Frontend - 10k
• Backend - 20k
• Marketing
• 30k

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INDUSTRY AND MARKET RESEARCH

1 of 100 people create music, the number of music creators worldwide easily surpasses millions. Nearly one track per second is uploaded to Spotify and there are nearly 8 million creators on the platform today. This is an industry that will be forever growing since technology will replace most jobs in the future and a large part of the population will allocate their time to creative activities such as mixing, recording, songwriting and producing music.

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THREATS AND OPPORTUNITIES

As technology advances at the current speed, soon we will have millions of people with new occupations in the creator economy. If governments adopt the correct crypto regulations there will also be more liquidity flowing into the internet, which will be used to buy online things such as music NTFS and beats on Skyhitz.

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COMPETITION

Our competitors are mature companies that have been in the music industry for a while. Beatstars was founded in 2008 and it positions itself as our strongest competitor with a proven revenue model and addressable growing market. Our product is innovative in the way that gives producers the tools to grow financially from their creative talent and pull from a lot of resources that the cryptocurrencies ecosystem has. Our alternatives to target users is to show them that they can benefit way more from crypto than they currently are from fiat systems.

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MARKETING AND  SALES

We plan to grow our customer base through social media and organic traffic. We will keep retention high with concurrent emails and valuable resources for music creators.

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RESOURCES AND RELATIONSHIPS

Work relationship with SDF members Tyler van der Hoeven and Anke Liu.

Medium project scope - 60k

• Main website - https://skyhitz.io
• App on Android - https://play.google.com/store/apps/details?id=com.skyhitz.skyhitz&hl=en&gl=US
• Github code - https://github.com/skyhitz
• Instagram - https://instagram.com/skyhitz
• Twitter - https://twitter.com/skyhitz
• Pitch Deck - https://docs.google.com/presentation/d/1DGcfr9KwbBWpxq9MfeH8Y0P72FX15y3UDJQOE9vy8kk/edit?usp=sharing