MUSE NETWORK : MUSIC NFT ON STEROIDS

I'm Robin, I’m from Muse network, and our slogan is that music making it available for everyone. So how do we achieve that, we believe our vision is to make blockchain, really into the mainstream. So why should be asked of doing that. We believe that we have four
We have four advantages
First is NFT market NFT is bringing new growth to music, the world's first tokenized music NFT album has sold for a whopping $11 million, with amount of transactions on the NFT market increasing dozens of times in the past few months. And then we also obtains plenty of resources. We have unique royalty settlement system and points treating resources, the cost of music copyright of registration can be reduced to 1% of the original cost and also we have the cooperation with TME, which is Tencent music, the largest music group in China, and the CEA is the first compliant music copyright credit exchange in China. Also we have a great team, and in fact we believe that we are one of the most professional team in China that is well versed in the deep integration of music and blockchain operation and I will Specially introduce our team later.
And also, most proudly we have we think that we have great product because that we are, Our aim is to bring NFT mainstream. That means that we need to bring mainstream Internet application user experience that allows mass adoption by enabling music and NFT Distribution, starting from marginal independent musicians, and to do the incremental markets, using quick social network, spread of music to denote blockchain internet traffic dividends.

Okay. So I mentioned, the market is big. But how big is the market. So, take a look of the existing music companies for Universal Music, the largest music record company. It has a 40 billion euro valuation and for tensor music, and Spotify, they also have around 20, 25 billion US dollar valuation, but that's not big enough. So, If we think as a broader picture, the global music market size, which is 200 billion, and the whole blockchain Market size which is 2 trillion and if we think about the future blockchain market is going to be 20 trillion. And if we can really have using music to bring blockchain mainstream, is there the possibility we can grab a piece of pie in the 20 trillion market.

So, NFT with music this track is particularly booming. It's actually exploding also valid NFT collection, the world's first token based music album by 3LAU, was released on 28 February and sold for a whopping $11 million. And also, Elon Musk, the CEO of Tesla, also, is paying attention to NFT music, and he wanted to issue his own music, NFT camp. So but, in reality the music industry is.

The music, the musicians dilemma is well documented, because there's opaque ownership and middlemen control, that is the distribution between artists and fans, and there's a new generation of music streaming platform enabled fans to own a stake in the musicians royalty stream, and in the streaming platforms themselves, that is powered by blockchain.
So, if we make this happen. Such ownership shares acquired through the NFT are transparent, transferable and can be used to confer to confer other benefits such as exclusive user rights and voting rights on governance.

Let's comparing the traditional music industry, to the new production based music industry. In a traditional music industry, an artists in order for artists to receive money from revenue company, it has gone through a lot of processes that carry the current revenue distribution mechanism will take three months to distribute revenue from streaming service like Spotify to a label and six months to an artist is really time consuming, and that's mainly because of too many middlemen and opaque copyrights distribution system.

But if we take it on the blockchain circumstances. An artist actually can actually issue a lefty, which makes its copyrights, very clear, very transparent, and it can even lending over mortgage on in a defi protocol, so that he can collect money straight away. In fact, in 2019, on defi summit in London, Paperchain has successfully advanced a customer's 60,000 worth of stable coins as Spotify, revenue, the entire process takes less than 30 minutes, compared to a 90 day process and the transaction costs is less than $3.

So, after thinking so much about music and blockchain. So what is the logic behind that. Why do we want to use music NFTas the entry point of changing the whole blockchain industry, because we think that we, if we want to truly scale blockchain, it's not only the job of technology. It's only. It's also the job of popular applications. So we define the current blockchain industry, with three problems. The first problem. The problem is that we need to tackle the asset on chain problem, we need to really bring real asset, real world assets, onto blockchain, otherwise blockchain won't have real use, it won't have a real economy.

Secondly, we need to tackle the onchain selection problem. If we remember the ICO, a failure in 2017. That, I think the failure was because of all the investors. They didn't have all the investors, they didn't have enough information to select good and good assets. So that's the second problem, and the third problem is that we really need to put those assets on chain have a value we can really use it on the blockchain, not just the put there and all the and all info showing off.
So why these three problems are important. First, we think it's inevitable because it is putting real world assets on chain is a necessary component of building an entire blockchain economy and the necessary requirement of a healthy financial system. Secondly, is because it's also the central of the new of the new blockchain economy because onchain is also a centre of asset if the traffic centre is somehow is like crypto currency exchange. So it's has a lot of traffic every user has to go through it certainly is a functionality, because the asset has to be useful on the blockchain so that it may provide consistent and stable new cash flow to the blockchain.

So how, so now we have the problem, and we know why it is important. So how do we solve this problem. So we solve this problem by three logic. First, we think there is asset classification. Mainly we classify blockchain assets as two kind one is atomic assets, and another one is Bit asset.
Atomic asset we refer to those physical assets like anything with is tangible, but a bit asset is like a music picture literature, video, and IP, and now we think IP is more suitable. And also we think those assets should be able to attract more attention should be attract internet traffic, so that the assets can really scale in value. So suddenly, we think that that new assets must, must have must be regulation compliance, because we don't want to do share our bond, and those assets are already been heavily regulated, and it's not a good asset class that we should pursue.

So, after this analysis so we have music, and picture and literature and video and those four categories left. So if we compare those four categories with market size, propagation speed and the degree of decentralization of creation, and, and the mass and population mass penetration.
We can come out with a result that music is the best choice, because it is the largest market size, and it's propagation speed is, is the fastest, and also the degree of decentralisation of creation is high, and also his mass penetration is high, its over 70% of our population are music fans.

So we already have a successful example in the United States, which is Audius, if you have ever heard about this project, now it has received over 10 million dollars in funding. And now his product has gained more than 4 million real users in March this year. So it is very popular, and it's one of the most popular blockchain application in the world, and it's in the blockchain is on the music blockchain industry.