「I’m a very mission driven entrepreneur.」
Through TUNE TOKEN and Cre8tor.App, CEO Erik Mendelson talks his project “TUNE” can change the current music industry.
Knowing a leader means knowing the project.
The Meroko chief editor GORI interviewed him about the realities of a project and his private life.
Erik Mendelson ※Photograph center
CEO / TUNE TOKEN・Cre8tor.App
TUNE TOKEN・Cre8tor.App CEO Erik Mendelson
Specialties: Digital Music Entrepreneur, Contract Negotiation, Experienced Cross Marketer, Tenured radio promoter. He has signed up with three platinum recording artists and has generated over $ 20 million in record sales.
His project “Cre8tor.App” is 2017 TechCrunch Disrupt Cup Winner & featured a company on Apple Music’s original series “Planet of the Apps.” Furthermore, he received investment from “Lightspeed Venture Partners”, triggered by Apple Music’s original program “Planet of the Apps”.
Currently, he started a new project “TUNE TOKEN” to build a new ecosystem through Cre8tor. App and blockchain. The world-renowned artists Pitbull and WILL.I.AM support his new project and are expected to revolutionize the music industry.
【Question for business side】
I am glad to see you again and would like to ask several questions to you at this time. It is a very exciting interview for me!!
So this is the first question,『I heard that you’ve been working for the music industry all the time, but specifically what kind of thing was done before starting your project? 』
I’ve been a music executive for my entire career working in various capacities including radio promotion and marketing.
Around 2006, I started discovering, developing and getting my own artists signed to major record labels and created my own artist management company.
I haven’t had a corporate job since 2006.
When I hear working in the music industry from someone, It makes me a picture that they are an artist right away, but, in your case, you were pro music executive and created your own artist management company.
I think discovering work is related to TUNE project.
So next question,『How will the world change when your project is completed? When do you think that will be?』
Cre8tor.app was developed to provide a user friendly, convenient and affordable music recording studio for those aspiring musicians who can’t afford to pursue a career in music.
Essentially, I want Cre8tor.app to democratize music collaboration so that everyone has the same access to awakening their inner musician.
Music is a universal language and collaboration shouldn’t be subjected to our geographical location or financial status.
Integrating blockchain and the TUNE token will help us solve 2 of the biggest problems for the global music industry which is transparent royalty accounting and the creation of a universal songwriter database.
Furthermore, we’ll be able to incentivize all the stakeholders who contribute to the platform including music fans.
“Artist royalty accounting” and “Creation of a universal songwriter database”.
I also think that these 2 things are common big problems for the music industry.
In Japan as well, I regularly see the news about it.
You are a person who is familiar with the music industry, so I am sure that you may take a different approach to the problem.
In the long history, the people who have a strong desire to solve a problem is always improving their business and change the era.
However, even you have a strong desire, sometimes you get a hard time.
『Could you tell me the ups and downs of your work since you started the project? 』
The blockchain space has changed rapidly and there is no regulatory framework in America. Across the globe, we’re navigating different country laws which are constantly changing.
There’s always push back when new technology gets introduced but I’ve never seen anything disrupt the status quo more than blockchain technology. This is also something I’m very excited about.
However, as a startup, navigating various laws and dealing with new technology all while trying to build a business, execute partnerships and grow users is definitely a challenge.
The positives are that I get to travel the world, meet new people and be part of the blockchain revolution. There won’t be another point in our lifetime where we’ll see the kind of technological revolution we’re in the beginning phase of.
Furthermore, I believe we’re in the middle of the biggest shift in generational wealth. These changes will be realized in 2-3 years.
The blockchain is in the middle of the development race.
I think we can say that the current crypto industry looks like “each project is run away without rules“.
The reason is the law and regulation of each country are not ready yet.
When a rule is made, projects may start to change to fit the rule.
I think there is a world where the only high adaptable project can survive.
By the way, 『Why you can work harder? what is the most important thing for you when working? 』
I’m a very mission driven entrepreneur.
I take strategic risks not blind risks.
Meaning I like to predict where the future is going and build products that I believe will be needed to solve problems in the future.
Hence, when I’m working I like to see results that match my expectations. It keeps me motivated.
It’s an amazing feeling when you have an idea and you execute on that idea until it’s tangible.
My Co-Founders and I envisioned a mobile app and we didn’t have technology experience. Investors initially passed on us thinking we wouldn’t be able to build our idea.
2 years later we won TechCrunch Disrupt Cup which is the most prestigious startup competition in the world and we have funding from Top 5 globally recognized Venture Capitalist Lightspeed Venture Partners.
We like proving people wrong.
I know there a thousand of effort. It is not easy to keep to one’s word.
I watched the video of the TechCrunch Disrupt Cup, and it was very impressive to see a strong confident presentation.
I think the project will kick into high gear from now, but your project will supply own currency, the TUNE token. It is a cryptocurrency, right?
When you talk about cryptocurrency, maybe you will catch the negative comment from someone who doesn’t know this industry very much, so『What do you think about the future of the cryptocurrency industry?』
I believe that blockchain technology will be a part of almost every business in the future.
We’re still 3-5 years out from adoption. We’re still very early.
I don’t believe we need as many protocols that are being developed.
I also see a tremendous reduction in the amount of alt tokens for sale.
Most of the token projects are just issuing tokens to raise funds because they couldn’t raise traditional investment.
There’s also a fraction of projects that are outright scams.
However, some of that burden also rests on the token purchaser.
Do your research.
Just because someone owns $50 dollars worth of some token doesn’t make them savvy.
Support projects where there’s a real token use case.
I feel like some people have let their guard down and don’t use common sense when looking at token projects.
I look at the team, the technology and what investors have supported them.
Most people are just looking at whether the token will be listed on an exchange.
At TUNE token we’re product driven because unlike most projects we have actually built our application and have real world use cases. We’re not just a whitepaper.
I got your point.
Of course, scammers are bad guys, but actually, investor has responsibility for search and learn the project, I agree with that.
The current crypto market is not a bubble economy, it is a business investment.
If the business goes well, the value goes up.
Erik, you are crypto project CEO, so know your thought will be good information for me.
『Do you have any other projects that you interested in? If so, tell me the reason and project name if you mind. Lol』
Personally, I’m interested in fractional real estate projects, crypto lending and solar energy projects.
Real estate is the best asset anyone can own but only a fraction of the world can afford real estate.
Blockchain and fractional real estate projects democratize the benefits of real estate ownership. I’m so excited about that space.
Fractional real estate projects…
It sounds securitization of real estate through the blockchain technology.
Blockchain will greatly simplify the process of application and make it easy to invest in real estate from other countries, There is a lot of great benefits for investors.
Just as I thought, you can’t tell me the project name…
but please tell me in the next private time! Lol
So next, 『What kind of business leader do you admire? Why?』
I often thought about what leaders I admire.
I think Elon Musk is the modern day Einstein. I also think he’s a little bat shit crazy with his space endeavors.
Personally, I believe a leader is only as good as the team he builds around him.
Leaders should know where they’re weak and hire the right people that are strong where the leader might not be that strong.
I’ve admired our previous President Obama.
He put together an amazing campaign and selected an amazing political cabinet around him.
Again, he was a leader because of how strong his team was.
His team believed in his mission and worked for the best interest of the country.
That’s a leader.
【Question for private side】
May I ask a private question too?
If you won’t answer it, please just ignore, no answer is fine too.
『Who is your hero? and why?』
Of course my hero is both of my parents.
Unfortunately, my mother passed away from cancer and my father passed away from diabetes but I’m able to carry on their legacy thru my actions.
Other than them, any entrepreneur that has overcome the odds to run a successful business are my heroes.
Entrepreneurs create jobs. Jobs allow society to thrive.
A lot of world problems can be solved with strong economies.
“able to carry on their legacy”, I love that saying.
My father also passed away and I always feel him in my heart, so I sympathize with you so much.
Next question,『What do you imagine the happiness can money buy?』
Having enough money reduces stress.
And if you have a lot of money than you can use that money to help others including family members and friends who may not be as fortunate.
Hmm…『what is happiness cannot buy with money?』
Money can get you better health care but it won’t guarantee your health.
Money can’t buy motivation.
You’re either motivated and believe in yourself or you don’t.
Yeah, Hearth is very important when we want to do our best with business.
You are too busy and fly all over the world, 『What do you want to do if you get a break for three days?』
I have an 8 years old son who I spend all my free time with.
He’s the most important person in my life.
He is my external heart.
So, if I have 3 days, I would spend it with him traveling.
I’ve been blessed by being able to travel the world.
I want to make sure that he travels the world also.
You may not think about retirement because you are still young, but I would like to ask you an annual question.
『Do you have any plans for retirement?』
No and that scares me.
I haven’t properly financially prepared for retirement.
Now this question is going to make me think about it. Lol
I live in the present. I set immediate goals for myself.
Hopefully, my retirement is a long time away because I generally enjoy working and bringing my ideas to reality.
I have a lot more to offer and accomplish before I retire.
You only live once.
Let’s live each day to the fullest!!
【 The last question…『What does TUNE mean to you?』】
TUNE means that music fans and the creators of original music content will have a way to be compensated for their contributions that grow the Cre8tor.app network.
We provide our information freely to great social networks like Facebook, Instagram, Twitter.
In exchange for our data, these companies make tremendous amounts of money by selling our data.
Although we get a free social platform, we don’t get compensated for building these social platforms. Without us, there would be no social media.
Without our contributions which disproportionately includes music, there would be no social networks.
The top social accounts across various platforms are musicians.
With TUNE every musician and fan will earn for helping to grow platforms.
This is decentralization.
【GORI’s summary of this interview.】
It was an interview of Cre8tor / TUNE’s CEO, Erik Mendelson (Eric Mendelson).
The participating artists are saying that they agree with the TUNE’s strong ambitions,
“Let’s change the music industry for the next generation!”
“Management of intellectual property rights” and “Royalty protection of artists”
When these issues find a great solution to connect across borders, it significantly affects the music industry.
There may be lots of happiness through what can be done with a blockchain.
I am interested in this project so would like to keep following TUNE update.
Eric, please do your best!!