Musiconomi is a distributed platform that connects users to the other 99% of music artists that they don’t hear on mainstream radio stations.
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What does the company/project do?
Musiconomi wants to disrupt the broken music industry and incentivize value creation, starting with the musician but extending to the bloggers, promoters, fans, labels and others that help make a thriving music economy possible.
The project is a distributed platform that connects users to the other 99% of music artists that they don’t hear on mainstream radio stations. It gives listeners a way to enjoy music knowing that their money will go to the artist and not middlemen. The platform will connect musicians, independent labels and users, no matter their location.
The platform will offer:
– Tools for content creators/owners to publish their content and directly control the disbursement of payments to co-creators (e.g. band members, song writers, producers, editors).
– Tools for content promoters to promote great content and be rewarded for their effort.
– Tools for content consumers (listeners, readers, etc) to find, share, and enjoy new content and become promoters and creators themselves.
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What are the tokens used for and how can token holders make money?
MCI is intended to perform the key function of settlement between parties including creators, users, and other platform participants. MCI will be the currency of payment and reward for all value exchange on the platform.
It will also be used as a “staking” mechanism whereby token holders are able to access tools and features of the platform which may enable further opportunities to add value and earn rewards.
As MCI is used 1) as the currency on the platform and 2) to enable different functions on the platform, the more usage the Musiconomi has, the more valuable MCI tokens should be.
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Opportunities
– Musiconomi is one of the first cofound.it projects and went through the rigorous vetting process employed by cofound.it.
– Team is competent with people from the music industry, technology and blockchain side. The team’s previous experience in the Musicoin project also provides them valuable experience.
– The project has already secured partnership with a music label, putting it ahead of its competitors.
– Network effect is present. The more promoters / musicians on board with the platform, the more valuable the platform is.
– The project is trying to solve a genuine problem that needs to be fixed. If Musiconomi is successful in its mission, MCI tokens should appreciate substantially.
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Concerns
– We are not fully convinced that Musiconomi’s model completely fixes the music industry. Independent artists with little budget are still disadvantaged because they don’t have the marketing budget that the bigger players have. Promoters can earn more from promoting musicians with a deep pocket so they are more inclined to promote those with a higher marketing budget.
-The platform would generate many small transactions and the gas price on the Ethereum network would make such transfers cost prohibitive. The team has a few solutions on solving this issue, including creating “wallets” so promoters/users can withdraw only when the balance is large enough. However, the exact mechanism is not confirmed yet.
– There are other blockchain projects tackling the music industry, such as UJO, Voise, and Audiocoin.
– The project does not have a working product yet so technical this is just a “white paper” idea. However, the team demonstrated its execution ability from the Musicoin project which somewhat mitigate this risk.
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Disclaimer
The information in this video is for educational purposes only and is not investment advice. Please do your own research before making any investment decisions. Cryptocurrency investments are volatile and high risk in nature. Don’t invest more than what you can afford to lose. Crush Crypto makes no representations, warranties, or assurances as to the accuracy, currency or completeness of the content contained in this video or any sites linked to or from this video.
