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AMA with Corite, the next IFO project on PancakeSwap.

Chef Fran

Hello CAKE holders! 🥞

We will have the next IFO with Corite on September 28th. We held an AMA (Ask Me Anything) with Emelie from the Corite team to get to know the project more! If you missed participating in the AMA, read this article and learn about their project. This time, a music platform for artists!

What is IFO?

IFO (Initial Farm Offering) is the event in which you can buy brand new tokens using CAKE tokens🥞

How to participate?

Read the detailed instructions on our document site 👇

https://docs.pancakeswap.finance/products/ifo-initial-farm-offering/ifo-guide

Please refer to the IFO page on our website!👇

https://pancakeswap.finance/ifo

Corite IFO will be held with our new IFO format. To learn more about it, check out this Medium article:👇

https://medium.com/pancakeswap/introducing-icake-ifo-updates-and-cake-side-pool-cc58983071d7

Opening Words From Corite

👩: I’m Emelie Olsson and I’m one of the co-founders together with Mattias Tengblad and Emil Angervall who both worked for Universal Music Group a couple of years ago. They are also experienced entrepreneurs who have worked in online gaming too. Before I joined them to start Corite I have plenty of experience working with digital marketing, project management, copywriting and starting different charity initiatives.

With me today I also have @SamuelArnald from ChromAway who is a super talented Strategic Project Manager!

My official title is COO, and I also work a lot with communication and Artist Relations meaning I put lots of effort into maintaining and building relations with artists and brands that can add value to the company. You can find me at https://www.instagram.com/emelie2000olsson/ and https://www.linkedin.com/in/emelie-olsson-80060014b

We also have our advisors Rico Love (Beyonce, Usher, Whitney Houston etc) in Miami and Alan Walker, one of the most streamed artists in the world! 🥰

👨: Hey guys! Sam here, I am working with the Corite project on the biz dev & strategy-side. Really excited to be here. Coming from the management consulting line of business, but thought it was too interesting with Web3 to not be a part of it. I have worked with Corite now for a little more than 6 months and think it’s a super cool and unique project. You can find me at https://www.linkedin.com/in/samuel-arnald-275887109/

Let’s begin with the Questions!

[Q1] Does Corite provide many features that help musicians to produce their own music and what benefits do musicians get if they release their music on Corite?

👩: Corite is working closely with the artists — but we are not too involved in the actual production of the music. The main value we offer production wise, is for the artists to raise funds via our platform where the artists of course can use the funds to pay for production etc!

The benefits are many, but the most important ones are:

Financial and creative freedom
* Fan engagement (marketing) from involved backers
* A really good deal

[Q2] I am aware that the priority of Corite is for up and coming artists or fresh artists. But , How about the mainstream artists? Is there a chance for the Team to collaborate with mainstream recording artists to boost the project?

👩: For sure! The up and coming artists will drive volume, but mainstream ones are of course welcome and very important. For example, we partnered with the global star Alan Walker, which became a huge success dropping NFTs and creating fan campaigns where fans were given the opportunity to invest in his music in exchange for a share of the revenues. Fun fact, they’re all paid back now in one of the fan campaigns!

For the future, we will look to sign more mainstream artists to the platform with the main attention to increase traffic and users to the platform. In the end, this will then benefit the more independent artist as well, if more users are coming to the platform. The Engage-to-Earn model will also be developed in a way so that fans gets benefits from listen to different artists, making it beneficial for the smaller artists as well and not only the big ones! 🌟

Here’s a dear memory of when we announced the Alan Walker campaign at Times Square during NFT.NYC 2022!

[Q3]For an artist who doesn’t have any prior knowledge about Crypto, how easy will it be for them to release their music on your platform? Will you be educating them prior to joining the platform or how do you intend to get them onboard?

👩: Actually, they don’t have to have any knowledge about crypto at all! We started as a FIAT platform, and we want the barrier for the artists to be as low as possible. Today, backers (fans) can buy song shares via both fiat and crypto, to be open for everyone.

Then the platform takes care of the exchanges, to make it easy for the artist. Some education for artists is also provided down the line, on how they can engage more crypto-savvy fans etc and how to create their own wallet. This is also very much up to themselves, how they want to proceed!

We’ve actually already released thousands of songs. The fans favorites can be found in this playlist: https://open.spotify.com/playlist/5kka60A6oixeYkbeGAELVc?si=431de14902d546e7

[Q4] You mentioned that the NFTs will not only represent what you call “Corite Originals”, but will also include other dynamic features. Can you tell us a little more about these features? And if these NFTs will only be sold on Corite or can they also be sold on other platforms?

👩: Sure! As mentioned, today the NFTs are related to Corite Originals — but we will also have NFTs in the gamified Engage-to-Earn model. By completing fan missions, users will get fan power points. Some of the rewards in this model in relation to users fan power points — will be artist-specific NFTs.

More about this to come! We also have other exciting features planned, but more info on this will come! The aim is that all these NFTs will be possible to sell on other marketplaces as well. 🙌🏼

[Q4] The dynamic of Corite implies fans engaging and sharing the music of artists they like. What are the sharing strategies and social media sites where corite users can spread the voice about the artists?

👩: We have functionalities such as automated email communication which is triggered when a you’ve backed reaches different milestones such as 100k streams etc. In addition to that, we offer the artists marketing packages where we go the extra mile to engage their backers and fans to create the best possible experience. All of this you can expect to be more automated and gamified in the next coming year.

We do promote music in our own social channels such as instagram, tiktok, youtube, twitter etc — where the music-interested fan base hangout. If you have followed our socials, you have probably seen a lot of sharing and promotion. Here is where we would love the fans to be active and share the songs that they like or have backed!

I wrote this article a while ago about fan engagement which can be applied to our model as well if you’re curious!

https://corite.com/news/9-keys-to-fan-engagement

Live Q&A

Users without @userID won’t be mentioned. If you asked a question and you did not have a user at the time of editing this article, please contact us for us to update it.

[Q1 User: @Rakeshq02] Helloo 🙋‍♂Can any artist raise money from corite? Or do we need to take permission first to launch money raising campaign?

Anyone can create a fan campaign and invite their fans to invest! As long as you follow our community guidelines, you’re more than welcome to launch your fan campaign! 🎵

[Q2 User: @suneraz] What are your top 3 priorities in 2022 of corite? Can you share some upcoming plans?

Thanks for your question! One of our main priorities during 2022 has been to release the token, which we are doing now with PCS, since we need it to build our gamified Engage-to-earn model. Another priority is to get even more users to the platform, to fund more campaigns. A third is to get some more cool artists signed to the platform! Upcoming plans is to launch the Engage-to-Earn model, where fans can engage in fan missions and earn fan power points and get rewards!!

[Q3 User:@Cuddly_Wuddly01] What is your strongest advantage that you think will make your team leading the market?

Great question. The strongest advantage I think, is that we are working on multiple levels of the fan-artist relation, not only focusing on the monetary song share element — but rather the whole engagement!! Also, I have to mention the team with Mattias and Emil who have worked many years in the music industry!

Corite Quiz!!

The Corite team prepared a few questions in a form, this form was shared and it remained open for 5 minutes. Users had to fill their public wallet address (not their private keys), Answers and Telegram/Discord username. 22 Users who answered all the questions correctly won 2000 CO each.

If you want to participate in this kind of events, follow up in our social channels to find out when the next AMA will be!