There are a lot of nodes coming out. Music-related nodes, from Gala Music to Soronos, etc. There were a lot of nodes with slightly different concepts but similar in essence. This time, I bought one in Mujisung for early preemption of nodes.
Homepage (link) / Medium(link) / Gitbook (link) / Whitepaper (link)
Motivation
MeMusic’s motivation is to bring balance to the lopsided music industry, which is a growing multi-billion dollar industry plagued by unfair revenue distribution. However, unlike other industries, artists only receive about 10-12% of the revenue generated by the industry. In addition, the end users (consumers) of the service receive no compensation or payment. In the cryptocurrency market, there has been a surge of interest in rewarding users through entertainment. While there are various industry + reward (financial) combinations such as GameFi or SocialFi, there is no approach to the tokenized combination of audio (music, podcasts, audiobooks) and finance.
Our main goal is to build a comprehensive end-to-end platform that provides a range of services utilizing blockchain and artificial intelligence to various industry participants, including but not limited to artists, distributors, agencies, and publishers.
NFTs and music
A non-fungible token (NFT) is a digital asset that is issued on-chain. They differ from fungible tokens, which are often used as utility tokens to provide transaction fees, service fees, or rewards. NFTs are typically digital assets such as images, music, or text. Due to the nature of the blockchain, NFTs are unique and immutable digital assets.
Recently, more entrepreneurs have embraced the potential of NFTs. Often we will see influencers and entrepreneurs saying that NFTs are the future, and at MeMusic, we believe in their potential as well. However, companies and developers need to recognize the clear limitations of current NFT use cases.
The main problem with NFTs is that in normal use, it’s impossible to tell the difference between a copy of an image and an NFT. This makes most digital assets vulnerable to piracy. Also, the clear benefits of owning a digitized asset are somewhat unclear to the average person. The same problem occurs with music. Users will ask about the difference between owning the master for a piece of music and streaming it in an application for less money.
What is a station node?
Station nodes are an essential key to authorizing stations. Nodes serve to enhance the MeMusic ecosystem and specifically the Stations platform. Station Nodes are NFTs that do not require any software or computing power from the user. These NFTs can generate passive and active income for their holders while contributing to MeMusic. Below you’ll learn more about the benefits, utility, and scarcity of Station Nodes.
Utilities
Decentralized Labels – Station Node holders act as a decentralized media content network (MCN). Node holders can collaborate with users to recruit them as artists and provide services to share revenue. Learn more here.
Decentralized Finance – MeMusic is introducing several decentralized finance options for music NFTs in Q1-Q2 2024. Node holders are a critical component in enabling the platform to offer DeFi services that are collateralized with real world assets (RWA). For example, node holders will participate in the decentralized governance of asset collateralization and the creation of liquidity pools. For more information, click here.
Blockchain Rewards – That’s right, blockchain rewards. To ensure a seamless user experience across all products MeMusic offers, we will be launching a special layer for the music industry.
Rewards
Token Mining – Station Node holders will receive daily token rewards for contributing to the growth of the ecosystem. 40% of MeMusic tokens are set aside for mining by node holders.
Airdrop Rewards – Station Node holders will be prioritized for all airdrop rewards from the MeMusic community. Whether it’s tokens or NFTs, node holders are prioritized to receive airdrops.
How to purchase nodes
You can purchase nodes on Binance Smart Chain (BSC) and your wallet will need BNB, which will be used for a small fee, and 499 USDT (BSC) for the node purchase.
MEMUSIC BETAGo to the MeMusic beta site.
Sign up with email or sign in with Google to access.
Select Station nodes from the top left menu and click Buy Station nodes.
In the new window that appears, set the number of nodes you want to purchase and enter a code(K6DG8GHG) to help the author run their blog (optional).
Copy the code
Tap Purchase, then tap the Authorize button in your wallet to make the purchase. The purchase is complete.
This content is provided for informational and educational purposes only and is not a recommendation for any investment or trading activity. The cryptocurrency market is highly volatile, and there may be risks involved; thorough research and careful judgment are necessary before making any investment. The responsibility for investment decisions based on the blog’s content lies with the reader, and the author and the blog do not take responsibility for any losses incurred.
MeMusic (MMT) has listed on Gate.io.
It is deposited to your wallet without any claims.
You can trade via PancakeSwap or Gate.io.🚀