RE: Choon: NOTES Unlock And Valuation
Well they are certainly not closing down. As opposed to most other blockchain+music companies, they are primarily a music platform company more than a crypto business. They cancelled their ICO and don't seem to agree with all the crypto mumbo jumbo that happens to be the industry standard for crypto projects. They are building a music service that happens to be fueled by blockchain technology because it makes sense.
As for wind blowing out of sails, that seems to be the case with all of crypto at the moment. And seeing how they are a music platform company more than a crypto business, I don't think anyone should be worried about platform survival at all yet. They also didn't even plan on getting any revenues before next year according to the WP either. (paid streaming packages, and advertising)
That's good to hear if it's true; do you have details of their investment & burn rate?
Yes I agree about all crypto projects having the wind blow out of their sales however if they are primarily a music business then the correlation to the decline in crypto should not affect them that much surely? I would have expected increased marketing and momentum as a fledgling platform that needs to build brand awareness rather than the radio silence that seems to have descended. I haven't seen any mention of media coverage for months. The early enthusiasm just seems to have waned and communication has dropped off too.
As I said I love the idea where's all the excitement gone?