MusicLife is a blockchain music exchange ecosystem that allows fans own “stocks” of songs and purchase music. Every shareholder can earn dividends directly from their song shares. MusicLife is also pioneering a model that lets users mine cryptocurrency by listening to songs on musical wearables.
|Token Supply||6,000,000,000 MITC|
|TOKEN PRICE||0.001 USD|
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|Website||Click Here For Visit ICO Homepage|
The music ecosystem is based on blockchain
Blockchain is a technical framework that is primarily used to solve problems with trust, accounting and authentic rights etc. Since the time music was first transformed into purely digital assets, it has always faced enormous risks in the area of intellectual property piracy and difficulties in ascertaining said property rights. Musicians, record companies, and online music distributors have faced challenges in producing enough revenue from selling music alone. MusicLife has established a brand-new pricing reform that will automatically calculate the music price based on the actual number of listeners. In turn, users will share in the virtual dividends when a song is purchased. Due to the incomprehensible amount of digitised music and the large number of shareholders, this model cannot be achieved in real life through a team of lawyers and the power of the internet alone. But through the blockchain, MusicLife can perform fast transactions, bookkeeping and confirmation of rights without the need for human verification. MusicLife deploys blockchain technology and establishes the transaction ecosystem to tokenise all the rights and interests on the platform, in addition to publishing the digital currency MitCoin (MITC) which is used in every transaction.
An original, Tokenized music valuation system
In MusicLife, the value of the song is no longer dependent on the value of the copyright, but is instead based on the robust valuation system that is a combination of Mitcoin (MITC) and MusicToken (MSCT). The price and market value will be calculated based on the real number of listeners, depth of listening, and the activity of the users. This will break the current unhealthy environment in the copyright industry, with problems such as opaque pricing structures, counterfeit broadcast data and monopolies over the copyright market, instead ensure each song is priced, valued and traded effectively and at a reasonable price. When reaching 50,000 playbacks, each individual song can be publicly traded and is free to exchange through MSCT. Users who have full music rights via MSCTs will receive a 100 % share of the song’ s income each day. This marks a true investment in music and will lead to fully enjoying thereturn on music royalties.
Pricing music by audio playback hardware
As music pricing is crucial, MusicLife needs to ensure that the playback data is credible and cannot be falsified. Therefore, we use an embedded system to access playback hardwares in order to calculate the amount of music played over time. Any music playback hardware, providing it can ensure that the music is heard by a real user, will have access to the MusicLife system. As a result, we can ensure that the source data is collected from real-time listeners. MusicLife will also pay the data provider, MitCoin, correspondingly. The first playback hardware connected to MusicLife are MusicLens™ Audio Glass.
Integrating a new SDK and music software for music distribution
MusicLife works via SDK to access music playback software and distribute music sold in MusicLife. Software joined with MusicLife will share in the profits generated via users purchasing music. Access to the MusicLife SDK is free, and any approved music software can access and become distributors to jointly build a mutually beneficial music ecosystem. The first music software launched via the MusicLife SDK is the APP – Echo.
An open and free music licensing system
Any musician or record company can license music to MusicLife for distribution. Access to MusicLife means choosing a brand new music valuation system and abandoning the existing copyright value system. Each song added to MusicLife will be certified by the MusicLife Foundation and transfer its copyright in favour of publicly accessible music and operate through this non-profit foundation. MusicLife begins to reassess the securitised value of the system based on the user’s listening data via Mitcoin (digital currency system). This means that anyone who has been authorised by the Foundation can freely distribute and share work through designated methods. Based on the new valuation system, the more data you listen to, the higher your song’s valuation, and as a result, your music will gain reasonable returns from playing.
The world’s first AI-priced music exchange
In MusicLife, people share the ‘equity’ which means they earn revenue by selling/buying virtual dividends in music instead of copyrights. Users can automatically purchase music shares by paying for music, but if a large number of music shares need to be traded, they will have to be bought and sold through the live Music Exchange. The Music Exchange within MusicLife adopts the original AI pricing method, and the music trading price is automatically priced as a result of the valuation calculated by AI, based on the current music playback data. The users can then trade based on the current price. All buyers’ requests will be sent to all shareholders as pending orders and push notifications. MusicLife will develop a supporting exchange website and mobile software to support music trading.
Dr. Kaiming LIU Founder and Chairman
Kevin Edwards-Yano Chief Executive Officer
Mr. Rui Shi Chief Technology Officer
Java Mam Chief Growth Officer
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