Project Stage
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Based in
Team size
Active since
We were in the development stage last time we submitted to SCF, now we are in the start-up phase acquiring users and talking to them to iterate on the product. In the beginning of May we got our first paid user and first trade, interest in the platform is growing exponentially with many artists wanting tutorials on how to get their music NFTs up on Stellar.
Here are our stats:
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.
REVENUE MODEL
PRICING STRATEGY
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.
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.
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.
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. We plan to attract a lot of organic traffic by pre-rendering our entire site logged out pages with dynamic content so search engine crawlers can give us more visibility.
RESOURCES AND RELATIONSHIPS
Work relationship with SDF members Tyler van der Hoeven, Anke Liu and Sandra Persing.
Brendan Sheehan
Contractor, Designer, Developer @atlanticdesign
A front-end developer who can navigate his way through the stack. Always looking for creative, interesting and challenging projects. Currently exploring WebGL and Canvas based creative coding. Worked as a sole or lead developer on many successful projects, including websites for the Coachella and Stagecoach festivals; biographical sites for Muhammad Ali and Marilyn Monroe; Blue Apron recipe delivery service; Conde Nast Traveler Passport; Tourneau; mini-sites for motion pictures Bad Grandpa, Best Man Holiday and Self/Less; and creative projects for the band Animal Collective.
My work has won one Webby Award, and has been nominated for two Webby Awards, two CSS Design Awards, one FWA Award, and one Award.
Nathalia Combariza
Creative Director @nathalia1ch
A creative mind that always manages to create the perfect message for each user in accordance to its market. Once she finds a brand's target, Nathalia is a genius at communicating that message to its audience.
In her work she focuses on creating the bond between the platform and the users, where they feel supported and appreciated. She makes the user experience frictionless from the perspective of the brand's values and connects the entire team to work aligned with culture and purpose.
Alejo Mendoza
Founder, Developer @alejomendoza
Involved with music at a young age, Alejo has always believed that music is one of the most powerful forces behind human ingenuity. After finishing music studies, he embarked on a journey to travel the world while being a producer of shows in cruise ships, this expanded his thinking on how creating and performing music can enhance people's lives. In 2013, he traveled to the city of Los Angeles to study and research how to transform music so more people could become creators or experience at least once in their lifetime what it feels to make music.In this process, he met the founders of Splice in Las Vegas, who were just getting started and asked him to join their founding team as an engineer.
The company became a success for everyone involved and quickly reached more than a million customers worldwide in less than three years. After his success with Splice, Alejo challenged himself by starting Skyhitz, an organization with a mission to combine the power of decentralized economies with music.
The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
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