So you have probably heard of other cryptocurrencies such at Bitcoin or Ethereum, but what is a MUSO coin and how does it work?
A MUSO is a digital artefact that is manufactured from a piece of audio. This means that whenever a piece of audio is processed by the MUSO mint, a certain number of coins are created that can be bought from the MUSO exchange.
That’s right! The exchange can only sell coins that have been minted.
Music files are associated with each coin by a special kind of NFT that is gifted to the Musician in return for donating their music. This is called a Musibyte. These digital objects allow fans to co-operate with musicians to help increase revenue through online streaming and sales portals.
Fans can purchase these NFTs from the musician they like using their MUSO coins. The artist can cash in MUSO coins they receive at any time. Muso are traded back into dollars on a 1:1 basis into the Musician’s bank, PayPal, or Crypto account.
A fan who owns an NTF can use web links provided by the artist to promote a particular track. These can be shared to any social media, or bogging platform, similar to existing affiliate link technology. Whenever a link is clicked the artists track will stream from any service like Spotify that has been associated to the Musibyte. Links may also be included to a sales page for the track. Every link clicked is registered to that particular musibyte holder.
Fans can promote a track directly using their musibyte links. This helps to drive revenue back to the artist. The artist can initiate a payout to reward their fans for their support. Payouts can be in MUSOs or Musibytes, and can be executed in a number of way, such as, timed and drip fed payments, and more. Gamified micropayments are transacted FREE of charge within the MUSO/Musibyte ecosystem. We can instantaneous process a distributed transaction to a large number of musibyte holders. Micropayment in MUSOs accumulate in a musibyte holders wallet, and can be exchanged for dollars on a 1:1 basis, directly into their Bank, PayPal, or Crypto accounts.
Musibyte NFTs can be traded independently on many online Market places such as Open Sea or Mintable. This allow Fans who hold multiple bytes to sell portions of their collections, especially those that are showing promising returns. Any Time a Musibyte is Traded, the Artist automatically receives a tiny portion of the transaction.
The concept of Affiliate marketing is nothing new. In fact it has proven itself as one of the most stable ways to make money online. Large corporations such as amazon have used affiliate marketing to power their huge success.
To begin, we can see that the initial outlay for the company is, well, zero. They only need to supply the affiliate links, and people will promote those links, without any payment needed. The payment comes in afterwards whenever a sale is made. There are numerous ways the affiliate programs are executed, with various percentages on sales, or sometimes just click throughs.
It has the capacity to act like an affiliate program for an artist, because is contains an embeddable link that, when clicked, registers the action to a particular user. However, there are a few major differences in the Musibyte and traditional affiliate marketing platforms.
The Musibyte is an intelligent smart object, powered by blockchain technology. It can be sold and traded as an NFT, thus it has intrinsic value.
They can be upgraded and modified by the artist to reflect changes in the offer, such as new remixes, and limited edition sales. Affiliate links tend to direct the user to a specific web page, set by the link. The Musibyte provides a collection of dynamic links updatable by the musician.
Musibyte payout occur at the discretion of the musician. Rather than one deal fits all, the artist can launch different types of campaigns to suit their needs. Payouts are therefore gamified events that are designed to engage fans in activly supporting the artist.
There is a fine line between an affiliate and an investor. The fundamental difference is that the affiliate is given a free link that generates revenue as sales are produced, whereas the investor pays money out, with the aim of receiving a return.
From the investors perspective, opportunities that provide a passive income, or assets that increase in value over time, are the ways by which value is returned, called ROI.
The Musibyte operates as both an affiliate service for fan artist relationships, as well as the opportunity for investors to trade the NFT asset as an artist’s career matures.
The musibyte is a tradable digital object. It can be sold on the Musibyte or any other NFT Market place.
Whenever a musibyte begins to payout, then its value will naturally increase. Investors who own multiple bytes can use these periods to sell their bytes at a higher value. The Musibyte holds data on original purchase cost, payouts, and collection sales data. This is used to help investors maximize their returns.
Musibytes that are trending are listed in the MUSO charts. This offers another window of opportunity for artist to engage with a wider user base. Changes in the artists career, such as signing a new record deal, or wining an award, can also feed into the value of an artist Musibyte collection.
We aim to offer an engaging musibyte trading platform that is simple enough for anyone to engage with. Whether fan, investor, or just music lover, the Musibyte Market place offers a FREE trading space, that aims to build value, backed by the artists and their music.