Ocean Floor Music (OFM) is the first 'Create to Earn' funding and rewards platform built on the blockchain. Governed by our DAO the ecosystem is community owned and run and will function as an intuitive and seamless web and mobile application. OFM will allow artists to fund projects, pay for music services, mint (create) NFTs and reward their community.

The platform features:

• A Smart Project Fund that utilizes DeFi reward mechanisms and crowdfunding to fund music projects.

• A Music Creators Market offering services for the creation of music.

• An NFT Marketplace for creating and selling NFTs.

• A Staking Rewards Program.

• 100% of fees generated in Ocean Floor Music goes back to the community.

'Create to Earn' is a revolutionary new concept where artists are incentivised to create their own music projects. We are the first 'Create to Earn' project funding and rewards platform for music on the blockchain. Our mission is to enable artists to earn a living solely from their music by putting them at the top of the value chain. We have created a new model that empowers artists with wellbeing through financial stability.

In simple terms, it's a digital database that can verify, transact and secure data on a transparent network. Blockchains can provide impenetrable security, transparency and autonomy. Ocean Floor Music utilises a blockchain called Ethereum, one of the largest and most highly evolved.

NFTs (non-fungible tokens) are unique digital assets e.g. videos, songs or images that are created (minted), logged and authenticated on a blockchain. Blockchain technology allows ownership and terms to be assigned to these unique digital assets. NFTs make it easy to own and sell digital content.

The Ocean Floor NFT Marketplace will host digital assets created by artists, fans and industry partners. It's where NFTs are minted, sold and traded. It's another new form of monetisation for our community allowing musicians to sell their music and collectibles, fans to sell fan-art and industry to sell digital assets.

Here's a case scenario: An artist mints 20 unique NFTs of a digital artwork clip to promote an upcoming album release. The artist stipulates via the NFT smart contract that they own all of the work's intellectual property and receive 20% of every sale after the initial sale of the NFT.

The Fan who buys one of the unique NFTs valued at X $OFM, is the sole holder of that unique NFT until they sell, whereupon they would then receive 80% of subsequent sales and the artist would receive 20%, thus creating a sustainable and ongoing rewards model for both.

Passive to this transaction, tokenomics will redistribute a small percentage of every transaction across the entire Ocean Floor ecosystem rewarding the entire Community.

Our NFT marketplace is non-exclusive meaning you can mint and place your NFT's in our marketplace or any other NFT compatible marketplaces of your choosing.

The Music Marketplace is aimed at creation. This is where artists can purchase creative services such as graphic design, videography, mixing and/or production. From freelance creative services to traditional music industry partners, you will find the service you need to release your project on our Music Marketplace.

OFM has its own cryptocurrency token that functions as currency on the platform. OFM's token is called $OFM and can be bought, sold, and swapped in the open market. $OFM has a limited supply and is an ERC20 token that resides on the Ethereum Blockchain.

$OFM tokens are used to fund projects and buy goods and services across the platform, including NFT's and music services. $OFM token holders also have community governance voting rights and our Defi staking program allows $OFM to be staked in our liquidity mining program.

Central to the platform's ecosystem is the Smart Project Fund (SPF). This is where artists, industry and fans alike can start a project fund with bespoke rewards and incentives driving community contributions. The fund will continue to receive rewards and yield interest through our staking program until it matures and the project becomes ready for creation. The SPF will then contract industry partners from our Music Marketplace to produce the project, that, once completed, will then be sold on our NFT Marketplace or traditional markets such as Spotify, record stores, tours etc...

Case study:

• When a musician wants to record an album, they initiate a SPF and allocate contribution rewards such as 10 VIP Fan experiences, 20 rare NFT collectibles and 100 copies of an unreleased song as an NFT or a cut of royalties generated in our ecosystem to go back to the community.

• A Fan Club in remote Australia wants a band to tour to their town. The Fan Club starts a SPF called Band Tour Our Town, the fund closes and is rewarded to the band, the band plays a free concert in the remote town because the SPF has paid them for the show.

• A Music Producer wants to produce an artist. The music producer initiates an SPF, the fund matures and the music producer then provides the artist with a free music recording/production session where everyone gets paid, and artist receives a free record.

Infinite creative possibilities and rewards are available to our community who initiate Smart Project Funds to create and consume music.

Artist Fund:

Fan Fund:

Industry Fund:

No OFM does not take royalties. Royalties are controlled by artists.

Some might think that OFMs Smart Project Funds are similar to crowdfunding, and there is an element of truth behind this. However, there is a major difference. The money donated to the project can earn a passive income for contributors. Placing your tokens into a SPF locks them in for a defined period of time. Over this time the fund will generate interest which can be returned to its contributors, or be used to further fund the project. 100% of Ocean Floor's revenue is distributed to token holders. Think of contributing to OFM as an ongoing reciprocal dynamic process rather than a static one-off payment.

DeFi, short for “decentralized finance,” is a term for a group of financial tools built on a blockchain. The idea is to remove the middle men such as banks and financial institutions who charge fees, so larger returns can be achieved.

There are many options in the DeFi space to accumulate good returns that OFM is capitalising on. One of the main tools in DeFi is called 'staking.' This is the process of locking up cryptocurrency in order to earn interest, much like a term deposit. OFM Smart Project Funds take advantage of Defi to supercharge crowdfunding returns.

OFM is launching as a 'Decentralized Autonomous Organization' or DAO. A DAO is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government. The smart contract outlines the organisation's rules, which can only be changed via a vote. It can also send and receive funds without relying on a human-driven intermediary. Community owned and run.

$OFM token holders are entitled to nominate an individual for a council seat as well as delegate their vote to a nominee. Candidates for council members must be proposed before the due date of the election for the seven individuals best suited for the role of governing the platform. The DAO will then collate all proposed members from the OFM Council Discord Channel, and prepare the candidates to be voted on within a snapshot in time.

The Quadratic voting mechanism will be utilized to reduce the voting power of large $OFM holders and reduce plutocracy. This system is used successfully by several other protocols and we believe it is the fairest way to weigh votes.

The public launch is happening Q1 2022. Stay tuned for the release date!

Ocean Floor Music is the first 'Create to Earn' ecosystem on the blockchain. Creating wellbeing in the music industry through financial stability. Ocean Floor Music is a music creation, project funding, and rewards platform that is community owned and socially and environmentally aware. It's a Music Marketplace offering services and products for the creation and performance of music; an NFT Marketplace for minting and selling NFTs, distributing rewards, services and products, with 100% of revenue distributions back to the community and a staking rewards program.

OFM is committed to being socially and environmentally aware and has pledged to create charitable funds that will fund hundreds of social and environmental projects over the next 20 years.

Ocean Floor Music exists for the music community, and as a valued and contributing artist, music creator or fan in the music scene, we want to build from the ground up with people like you.

With many unsigned and independent artists being overlooked and undervalued Ocean Floor Music gives power to the artist and your music community, creating a fair and sustainable music industry.

Register now on our website or join our socials to find out more.