Block Label

What marketing budget? Our concept is the marketing budget...

Summary: October 2015

  • Our first proper month is done and we've had a couple of great releases from EDM artists ZeroGravity and Random Assault.
  • The official announcement for Fan Tokens merged mining was delayed – we hope to bring you some good news on this soon.

I would like to give an extra big thank you to ZeroGravity who was brave enough to take the first step in joining us. The concept of tokens and the idea of utilizing blockchain tech is relatively new for most people. Yet, he has taken to it with enthusiasm. Tusen takk!

The numbers are in and payouts have been made for October

I've decided to void any expenses until further notice. With expenses out of the equation we can base the payouts solely on the actual number of units sold (for more info read this previous blog post). We're looking into sponsorships so this can always be the case. If you're interested in becoming a sponsor give me a shout at: willh@blocklabel.com

As for figuring out the correct sum BTC, we need to have a good routine on how this is set up in the future. For now, I've used the price from bitmynt.no when doing the calculations. Here's the screenshot:

This is an okay solution for now since the figure is small, however, when we're dealing with larger amounts we need to prove the correct conversion rate. Both artists and fans have to be certain that we're purchasing BTC at said price. This is very important! Why? E.g. we could state one price, buy at a lower price and pocket the difference.

Here's the spreadsheet of the calculations. Double check it!

Here's the artists' payout transaction on the blockchain.

Here's the fans' payout transaction on the blockchain.  


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