TAO Network , the smart contract DAO platform for creating and operating decentralized applications, has announced the public crowdsale of its cryptocurrency tokens and the ‘TAO of music’ project.

According to the official release, 30 million TAO tokens are available for the ongoing month-long crowdsale on the TAO network. The remaining tokens are allocated for marketing, development and community building exercises. The announcement said that the value for one TAO token will not be more than $1 during the crowdsale.

“Participants in the crowdsale shall receive a 25% bonus on their deposit if the deposit is made prior to Friday, August 5th,” the release stated.

The crowdsale will end on August 28, 2016. In terms of the token distribution, more than 100,000 TAO tokens will be used for building the master node on the network and over 250,000 TAO tokens designated for its bugs bounties and awards programs. Finally, 1.65 million TAO tokens will be held in a time locked smart contract for four years to be used to establish music technology and blockchain education programs for children in public schools.

The TAO music project is a public ledger that offers a one-point legal access to artists' catalogs irrespective of the publisher who owns the rights. It is created by a team of futurists and developers in order to protect and secure the content of the artist for a longer time period.

“TAO of Music is operated as a distributed autonomous organization that can act as a bond between competing blockchain based solutions by various music publishing administration companies. TAO Network achieves this by creating an interoperable design that can work irrespective of the format of blockchain implementation currently adopted by artists,” it added.

In order to assist with integration and development, the network has sought the assistance of Dale Everingham, a sound engineer with over 25 gold and platinum hits to his credit from some of the biggest names in hip-hop.

TAO Network is an improved, future-proof Blockchain smart contract platform built using Bitcoin code base. The TAO Network, still in its early stage is a content agnostic smart contracts platform.