AMA Recap Crypto Library with Altostream

   

 
On 7th December 2021, Altostream conducted an AMA in the Crypto Library Community. Our guest is Zhay. Lots of questions as usual from the Community about Altostream progress. The Altostream team took part in a very interesting AMA session which included introductions, questions from twitter, and a live AMA session with the Crypto Library community. If you missed the AMA in person, read this recap for a deeper insight into Altostream.

Let’s take a look at the most interesting points of our conversation.

INTRODUCTION
Crypto Library Team : So, before we start the AMA could you please introduce yourself to our community?
 
Zhay (Altostream) : I'm Zhay, I handle Marketing at @Altostream
FIRST SEGMENT (HOST)
Crypto Library Team : What is Alto Stream? and how is the story/reason behind the Alto Stream project creation?

Zhay (Altostream) : Altostream is a music streaming platform powered by Blockchain. On this platform, artists get to upload musical content at their own pace. In essence, they would no longer need the support of music labels for them to share their creativity with the world.
 
Crypto Library Team : What are the competitive advantages does Alto Stream want to offer?
 
Zhay (Altostream) : Altostream uses blockchain’s revolutionary tokenized economics to take control of the music industry back from corporate conglomerates and put it back in the hands of the creatives, curators, and listeners.
 
Crypto Library Team : Please tell us about $ALTO token! What are the token use-case, distribution, and how to buy/get it?
 
Zhay (Altostream) : Alto token ($ALTO) is a cryptocurrency that affiliates with the Altostream music streaming platform, it uses blockchain technology to facilitate payments from users directly to the creators.
 
Crypto Library Team : Could you give us some information about your roadmap, your milestones, and also your future plans?

Zhay (Altostream) : We just had our BETA launch. 
 
Our presale and ICO for $ALTO is upcoming as well. 
 
Q1 2022 will see our full launch and onboarding of artists and listeners in their hundreds of thousands to the platform. 
 
There is a lot more exclusive information that will be made public soon, so stay tuned.
SECOND SEGMENT (TWITTER)
Crypto Library Team : Will artists be able to see their Altostream earnings as they earn? Or will they have to wait for termly calculation just the way it is done by Apple Music, YouTube Music or Spotify?
 
Zhay (Altostream) : Real-time earnings can be seen on Altostream. Remember, we are on the blockchain so Altostream is transparent, secure and accountable. So, you don't have to wait days or weeks to see or withdraw your earnings on our platform.
 
Crypto Library Team : What key roles have Altostream adopted to treat artists better in order to be relevant in this market space and more competitive?
 
Zhay (Altostream) : We aim to end the unjust treatment of artists and creators by low pay, copyright infringements and unfair platform cuts from gatekeepers. We're doing all this on the blockchain to decentralize ownership with zero platform cuts in hopes to motivate users to keep creating quality content.
 
Crypto Library Team : What features are available on Altostream for early users, what features are available for listeners and what features are available for artists?
 
Zhay (Altostream) : Altostream rewards creators for sharing their music on the platform, curators for sharing and promoting the creators' music, and the community of music fans and listeners for engaging with Creators and Curators.

Altostream's listener base will:
 
1️⃣ Pay a standard fee to listen to unlimited streaming of songs.
2️⃣ Get their fees converted to tokens on Altostream's backend.
3️⃣ Get proportional token rewards as creators or curators.

Let's say you, Mr. Bjor, subscribe to Altostream for $5.99 a month for unlimited ad-free streaming today. The fact that Altostream just launched, doesn't have many users and artists yet, makes it worth 5999 tokens.

At the end of the month, every artist (or playlist curator) you listen to will receive an allocation of your total tokens proportional to your engagement with their creative or curatorial value.

Let's say it's a year and you are still a subscriber at $5.99 for unlimited streaming. However, Altostream is now far more popular, has many more users and artists.

Now, instead of your $5.99 earning you 5999 tokens, it is now only worth 59 tokens. You can still listen to unlimited music, and eventually, the artists (or playlist curators) still receive a proportional allocation of your total $5.99 worth of tokens.

It has fewer tokens because the token price has increased by 1000%. The creators and curators receive the same total payout value so they are happy and the early token holders are VERY happy because their tokens have appreciated 100x.

As Altostream's bank of 1,000,000,000 tokens draw down, the scarcity drives the price of each token to increase dramatically until it hits a market equilibrium. When artists want to sell their tokens and cash out, they sell them back to Altostream at the current token price. Those tokens go back into the Altostream market for sale.

Community members will be incentivized to become Curators or even Creators in their own right, and could potentially be paid by Curators or Creators in $ALTO to engage in promotional activity.

The $ALTO token creates an entire musical economic platform where the only limit to the community's generativity is their imagination.

Crypto Library Team : What have you achieved so far and what do you hope to achieve before the year runs out? Can I see a breakdown of your tokenomics?
 
Zhay (Altostream) : A lot! To reiterate, we have our BETA launch over the weekend. Today, we also announced our migration to BSC. This is the first community we're sharing this news with! 🥳

🔔 ALTOSTREAM UPDATES

$ALTO is coming to BSC 🥳

-----------

$ALTO token contract has been redeployed on BSC due to an error in showing the balances of holders on the previous contract.

$ALTO is now a standalone a product used by Altostream to handle in-platform payment.

$ALTO has a new logo! What do you think? We think it's cool! 🎵

Previous Smart Contract: 0xB3E92a9A4fe13b54914e79c62083865B0f4BA6be

New Smart Contract: 0xf72d030f6ca545357b361a0fd36c77da8837f9fb

For more updates, follow:
t.me/altostream
twitter.com/altostream
medium.com/@altostream

Here's our new logo for $ALTO as well 🥳
 
 

Crypto Library Team : What potential did you see in the crypto media sector that you tailored this project specifically for it?
 
Zhay (Altostream) : We wanted to create a platform where creatives, curators and creators get the right remuneration for their craft with no platform cuts 🥳
  
THIRD SEGMENT (LIVE QUESTIONS) 
Crypto Library Team : Hi, what date are you launching the Altostream streaming project and can we still participate in $ALTO private sale? How about presales? I want to buy.
 
Zhay (Altostream) : Hello, I think we have made the announcement in our group that private sales are over. We will announce the presale date in due time. Right now, we have just migrated our contract to BSC. More updates to come. To answer your first question, our project is live in BETA mode 🥳
 
Crypto Library Team : Does Altostream provide a free version?
 
Zhay (Altostream) : Yes! The free plan allows you stream music at a reduced quality that's still higher than the output from sister streaming platforms, while the Paid/Premium plan allows you do so much more and to stream music at high quality. 
 
The Premium Subscription will be free for the next 3 months. We are currently refactoring our Web Wallet to improve the flow for users to purchase $ALTO tokens. You can sign up at
 
Crypto Library Team : please can you explain how exactly listeners can earn from streaming their favourite artistes in a more brokendown manner?
 
Zhay (Altostream) : To save some time, you can read my breakdown here.
https://t.me/CryptoLibraryDiscussion/219173
I captured all the details!
 
Crypto Library Team : For a project with such a solid community background you must be encouraged, do you have special plans for us the members?
 
Zhay (Altostream) : Yes, we are happy that you joined us. There is so much coming from our end for 2022. Altostream users and the community will also be incentivized with $ALTO when they engage in promoting content from Curators and Curators. Also, don't miss our presale!
 
Here are our official links:
 
Crypto Library Team : what steps are you taking to create traction for your project so that users will be attracted to your project?
 
Zhay (Altostream) : We are working on multichain support and we'll share more details in subsequent time. We just shared details of our contract migration here.We just shared details of our contract migration here. $ALTO will be used to pay for tickets to shows or concerts, buy artist merch, access to musical NFTs, will also be used on producers store front for selling beats, among many others cool usecases.
 
We also have our iOS and Android app too! 🎉
Look forward to it! The UI and UX is out of this world. Our engineering and design team is amazing! Our presale and ICO for $ALTO is upcoming as well. 
 
Q1 2022 will see our full launch and onboarding of artists and listeners in their hundreds of thousands to the platform. Stay updated with us!
 

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