Why MUSE NETWORK can be successful?
So, after seeing all of this and thinking that why Muse can be successful. We think there are four reasons.
- First, is that we really reduced the cost of music copyright registration. Traditionally, for music copyright to be registered in the centralised authority, it will take you like 1000 RMB but now, with Blockchain, we can reduce that to 10, RMB, or no cost.
- Second is that we can really create a millions of music, brokers, we can make every ordinary music fans, become a music brokers by enabling them to share their music through their social network by incentivize them by using our token.
- thirdly, is that we start with do too much now indie artists and focus on incremental market, so that it's actually the right music train, because with the development of new technology like internet, and smartphones, and more and more independent music. They have led the traditional music industry, and really start to produce music themselves,
- fourth, I think the spreads of music can quickly generate the traffic network dividend of blockchain, which would drive the token price to go up
- and last but not least, we think, you know the Muse models also fit the fundamental value of music industry because the current traditional music industry is evaluated by experts, so the experts decides which music is good and can be heard by the public, but in muse, all the music NFT evaluated by the network, that means, by every music fan, so that every music have an opportunity to be heard by the general public. So that's a huge improvement for the traditional music industry.
Now we already have our product and our product demo is already in the beta testing period. If you go in China, you can find our products in almost every major app store. Android phone app store. And we already signed, now it's almost 100 musicians, and more than 500 songs, and about 500 songs online and signed over 1000 songs on the blockchain.
I mean signed on the blockchain means we have really put their copyright onto the blockchain and we issued their music as and blockchain assets as an NFT and also we signed contract with them, that they are going to bring their future royalties, the cash flows on to blockchain.
And these are some of our signed, artists, and some of them are actually very, very talented and have huge potential they have 10s of 1000s of fans already, and their potentially can all be our promoters, our music and your agents.
TOKEN MODEL
He's going to be in charge of our product. And next is our token model for our blockchain is going to, we are going to employ decentralised streaming service so that our model has three kind of nodes, Muse network system. We have storage nodes, which is in charge of storing the media file, and we have a discovery node, which is going to index the content for our users, and have a ledger node to record copyright metadata hash and transactions.
And we employ this gas model for our token economics. I listed 11 usage for our gas as a transaction fee the smart contract tuition fee as a part of interest on us playing as part of interest on Muse market is also a basic interest paid by common nodes and POS rewards of super node on the public chain is also as copyrighted revenue segment of music networks, and music copyright as a tipping reward purchase crowd funding payments in Muse ecosystem is also it can be intentionally destroyed by burning or any other unexpected loss of private key and express central blockchain is decentralised governance, voting is also enabled by Muse token.
Future plans
So in our future we have three stages. Stage one is to enable copyright ******* circulates, and to transact within the Muse system. It's set to be finished within 2021 and stage two is to, we can really achieve ********* online royalty distribution and copyright authorization and currently we are developing the smart contract for this stage, And hopefully we can finish it by early of next year, as these three is to achieve free trade and defi usage through cross chain transactions and copyright NFT and other digital assets, at the end of next year.
Our future planned for NFT and actually some of them has already been deployed. We ****** storage of music, when it comes to employ fi Quan and music NFT rights and also all limited edition NFT which is actually is similar to ERC 908. Music anti copyrights and the share of music NFT resell and it's similar to some functions like what we already have on the open sea.
A lot of an NFT usage for copyright you can deliver to via legal copyright holders for preservation is also can be evidence of claim to copyright.
The functions of NFT smart contracts, like online transactions on chain transactions, petrol shares authorised playback associated with the playback source. Automatic risk recipient and distribution of royalty automatic grant play back authorization based on conditions, defined mortgage loan with automatic payback from rotary cash flow on chain.
Okay, the next page we want to introduce a little bit about the capitals and our Ico projects. We already finished our first round of fundraising. We are very proud that we have a spot of some of the most ********* capitals in the ***** area like MPG, DFG nebulous Seawater and Iris and Cosmos.
We also have some ico projects I have’nt mentioned, which is our core application here, and also Blue Dolphin Blue Dolphin is a NFT trading market, which is American market, which is led by Michael Mitchell, Mitchell Michael, he was one of the founder, one of the core designer of Los Angeles, Olympic game, and he often has a lot of resources of traditional mainstream artists, so they bring lots of IP lots of pictures, music, onto blockchain.
******* it's a Metaverse based on the Muse network and the Blue Dolphin is also using the Muse network as well and also Octopus. Octopus is also our very good partner, we're going to partnering with Octopus on our blockchain.
So here is our fundraising plan that we have finished our seed round, and we are about to close our annual round in few days. And we, yeah, that's our distribution plan. Our team has 30%, our ecology, building fund has 30% and the marketing and all the musicians you have 20%, and hopefully in the future we have reserved 70% for future we *******.
Yeah. So that's our final reading plan. Okay, thank you very much. If you are interested in our project I can introduce you more. You can contact us via our email and telegram. Thank you very much.