Ogier has advised on the launch of Choon – a new music streaming service and digital payments ecosystem which uses blockchain technology to create a platform connecting musicians to their audiences without the need for intermediaries.
Ogier partner James Heinicke (Picture) led the team including associate Cory Macculloch advising on the Cayman law aspects relating to Choon and its token offering.
Choon is the creation of British EDM DJ and producer Gareth Emery – it is an online platform that allows consumers to stream music and pays royalties to artists through smart contracts. The platform is powered by digital utility tokens and solves many issues historically prevalent in the music industry.
The Choon platform launched on 1 May and a public sale of tokens will commence in July.
The Ogier team advised on the formation of the token issuer, on terms and conditions for token purchases and compliance issues as well as general regulatory and structuring advice.
Law Firms: Ogier LLP;