We felt artists should be able to take more control of their work without having to sacrifice their efforts when it comes to content creation as well as without having to forfeit a huge amount of profit.
What it does
8Trac is an amalgamation of a streaming, fundraising, and content rights platform that utilizes Ethereum blockchain functionality. Artist can fundraise and stake a specific amount of royalties through issuing an ICO for their projects by exploiting Ethereum’s smart contracts.
How we built it
We utilized Ruby on Rails for the web app. MySQL for the database. Truffle, NodeJS, and MetaMask in order to produce and deploy smart contracts to the Ethereum blockchain.
Challenges we ran into
So one of the bigger hurdles we encountered was implementing the Facebook LIVE API in order to have artists stream directly to their stakeholders. In the end, we decided to implement the FB LIVE API in later iterations. We also ran into issues with getting everyone’s environment running, however, we were able to delegate work in a way that was still efficient with the number of resources we had available.
Accomplishments that we're proud of
The successful implementation of the ICO smart contract.
What we learned
The ubiquitous resources available through ConsenSys. We became more familiar with these tools to pursue our ambitions through this project. We recognized along the way that we have a unique angle for this particular idea and feel strongly this is something different and potentially disruptive in the best way.
What's next for 8trac
Integrating live streaming so stakeholders can attend potential listening parties, Q&As, etc. We would also like to implement a visual progression of the project to keep stakeholders updated with the latest news.
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