Question 1

What is Corite (CO)?

Accepted Answer

Corite (CO) is a Swedish music and technology startup established in 2018, featuring a unique approach to funding artists. It allows fans to invest in music and share in the streaming profits, becoming an integral part of the process from creation to implementation.

Corite's blockchain-based platform provides CO token holders and music enthusiasts the opportunity to engage in fan funding and promotion, gain early access to premier music projects, and receive rewards for their contributions to the Corite ecosystem. Through the Corite platform, fans can invest in their favorite artists and own royalty shares as backers, offering a transparent and secure way to support musicians while earning rewards for their participation. Since its beta release in October 2019, the platform has grown to a user base of 120,000.

In July 2021, Corite expanded into the U.S. market and partnered with Hitco, successfully closing a $2.2 million presale for their utility token $CO—the native currency of the Corite platform. This expansion allowed Corite to broaden its audience, attract a talented team, and create a democratic work environment for artists. Further, in January 2022, Corite announced the closure of a €600,000 seed round to launch its fan funding platform in Europe, led by Tagehus, Eastate, and Almi Invest.

Corite collaborates with several distinguished music industry professionals, including L.A. Reid and Charles Goldstuck, founders of Hitco Entertainment, and legendary producers such as those who have worked with Beyonce and Usher, as well as Konstantin Kersting. Recently, Corite completed an agreement with Alan Walker to release multiple tracks and help transition fans to Web3.

In January 2022, Corite CO successfully concluded a $6.2 million private token sale. The company conducted a public fundraising round in September 2022 on PancakeSwap, where they raised $1.5 million through an initial farm offering (IFO).

Investors include NGC, CoinCO, Coin98, KuCoin Labs, Chromawat, Gate Labs, Kyros Venture, Shima Capital, Everse Capital, Rarestone Capital, NGC Ventures, CryptoJ, BTX Capital, Skyman Venture, Exnetwork Capital, Bella Finance, 1001 Capital, and Hilbert Capital.

Question 2

Who Founded Corite?

Accepted Answer

Corite was co-founded by Mattias Tengblad and Emil Angervall, both alumni of Universal Music Sweden.

Mattias Tengblad, the CEO of Corite, brings twenty years of experience in the music industry, telecommunications, and media. Before establishing Corite, Mattias contributed to the esports sector, served as Head of Digital Development at MTG, and was the CEO of ABBA Pop House Sweden, a branding company. Additionally, Mattias spent five years as Commercial Director at Universal Music Group (Sweden), during which he launched Digster, a network of streaming playlists, and co-founded Spinnup, a file download service.

Emil Angervall serves as the Chief Creative Director of Corite. With over twenty-five years in technology and the creative industry, Angervall has held roles such as Lead Designer and Creative Director. His expertise includes branding, marketing, and digital ventures for Universal Music Group, northern media giant MTG, TV production, and digital agencies. Together with Tengblad, Angervall co-founded the startups Sniph and Bright Sunday.

Emelie Olsson is the Chief Operating Officer, managing the day-to-day operational functions of the company. She actively engages in business development, communication, and team management. Her previous experience encompasses sales, project management, and digital marketing.

Question 3

### What Distinguishes Corite (CO)?

Corite (CO) stands out due to its innovative approach to the music industry, leveraging blockchain technology to empower artists and engage fans in a novel way. By allowing fans to invest in music projects, Corite offers a unique crowdfunding alternative, providing artists with the necessary support and resources. This system not only democratizes the music production process but also allows fans to share in the profits, fostering a sense of community and mutual benefit. For an in-depth analysis and real-time data on Corite, please refer to Eulerpool.

Accepted Answer

Corite is a digital distributor operating within the same domain as TuneCore, United Masters, and Ditto. However, the platform distinguishes itself by allowing fans to directly invest in their favorite creators and receive a share of the streaming revenues through fan engagement. In this model, each fan acts similarly to a record label, providing funding and, in return, gaining financial benefits from the potential success of the artist.

The valuation of creators' fan campaigns on Corite is determined by analyzing previous streaming history to assess the potential for future revenues.

Corite has facilitated over 400 campaigns, raising $1 million for artists and securing millions of streams on its platform. Notable artist collaborations include Alan Walker, Danny Saucedo, Sabina Ddumba, and King Charles.

For further information, visit Eulerpool.

Question 4

What is the Total Supply of Corite (CO) Coins Currently in Circulation?

Accepted Answer

Corite (CO) functions as a utility token and is designated as the native currency of the platform. The circulating supply and market capitalization have been verified by Eulerpool.

Question 5

How is the Corite Network secured?

Accepted Answer

To guarantee the security of the Corite platform, the team engaged Peck Shield, a premier blockchain security firm, to conduct a thorough security audit. Peck Shield evaluated the Corite smart contracts alongside other facets of the platform's security framework, such as the web application and the smart contract deployment procedures. Furthermore, Corite participates in the Binance Oracle program, which delivers dependable, secure, and precise data for smart contracts. Collectively, these initiatives offer users confidence in the security and transparency of the Corite platform.

Question 6

Where Can You Purchase Corite (CO)?

Accepted Answer

The Corite token is presently listed on Bybit and PancakeSwap (V2). Additional listings can be found on our crypto exchanges page.

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