Welcome to the MUSO Coin Mint.

This is where new MUSO coins are created.

If you are new to the idea of Money Creation, then check out our beginners guide to the History of Money.

Quick Links

Ready to donate your Music?

OVERVIEW

Whilst many people believe that money comes into existence based on a physical asset such as gold, in reality this is not the case.

In fact, Money is manufactured based on ‘promises to pay’, which are backed only by pure faith in the currency.

Here at the MUSO Coin Mint, we have devised a new kind of minting technology that can only create coins when music is fed into the system.

Therefore, Music is the commodity that backs the creation of new coins.

Let’s take a deeper look at how this works.

Minting Technology

The power of money creation has been traditionally operated by the banking industry. The fundamental purpose of a bank is to maintain and balance its ledgers. All transaction have to be recorded, and any payments settled.

When the banking system started to fail at the turn of the century, a new technology emerged to try and provide an alternative ledgering system. This is called Blockchain Technology.

Since then, Blockchains have been developed to form a network of different services. These Blockchain ledgers can register new tokens, and transactions, just like any bank.

However, the problem still remains.

Who is printing the money?

That’s where the MUSO coin comes in.

The MUSO is the 1st coin to be backed by music. And as the potential to create music lies within anyone, we can finally distribute not just the banking ledger, but even the money creation process.

That is what makes the MUSO a truly unique coin.

MUSO Coin

The MUSO is a digital blockchain token.

You may have heard about other Crypto currencies like Bitcoin, or Ethereum. However, there are literally thousands of new tokens that have been launched using blockchain technology.

The problem is that some of these coins have suffered large fluctuations in price that have left coin owners seriously out of pocket.

Stable Coins

To avoid this, the MUSO is devised to be a stable coin.

That means that it follows the price of an existing fiat currency, such as the USD. Whenever you buy or sell your MUSOs you can always be assured that you will get the same number of dollars back.

This stops powerful investor groups from buying large quantities of coins, and then dumping them when the price goes artificially high.

The Process

Let’s go through and see exactly how new MUSOs are Minted.

It all begins when an artist decides to donate a piece of music.

We have a super simple application form to make it really easy.

Authentication

Once a form is submitted, we check the music offered against any existing audio in the system to make sure it is unique. Then we check and make sure the artist is the legitimate rights owner of the donated track. Once authenticated we can begin minting new MUSO coins.

Measuring & Metering

The next step is to analyze the donated audio track. We translate each offering into a 128kb per second audio file. Then we measure the length and calculate the number of bytes. The number of bytes defines the number of MUSOs that can be created.

NOTE: For the initial release the MUSO Mint is only accepting 30 second offerings, one per artist. This is to allow for a fair distribution of MUSOs as we fire up the system. Once the MUSO Mint is fully operational, artists will be able to donate multiple tracks of any length through their account, once verified.

Extraction & Minting

The last step is to mint new MUSO Coins. We do this by taking the byte length of a donated track. This translates into a certain number of bytes per second, which is the exactly the number of new coins pressed.

NOTE: Currently the MUSO Mint is calibrated to produce 250 coins per second. However, through money market analysis, we can show that a bit rate of 8000 coins per second is still viable.

But what can you do with a MUSO?

The MUSO is backed by music, which is a great idea, but what can I do with it once I have some?

That is a good question. And to answer it properly we are going to have to look at another aspect of the Mint that manufacture something called a Musibyte NFT.

NFT tokens

Aside from standard coins, blockchain technology opens up a whole new world of value generated by a special kind of token called an NFT.

COIN Tokens

Coin tokens are an exact replica of each other. One coin is always worth the same value as the next, and can be traded for any other coin. Just like chips in a poker game.

NFT Tokens

An NFT is different. Each one has a unique identifier. This means they can be traded at different values. Just like playing cards. The value is determined by the collection, (hand), that you hold.

This is great when it comes to attaching creative works, such as digital art, to a practical sales token.

Once an owner acquires an NFT, they can trade it at any point on digital market places that support them, such as, open sea and mintible.
Coin tokens are all the same, exhibit one price, and can be traded on an exchange.
NFT are all unique, can exhibit any price, and are listed on a market place.

Musibytes

Now that we know the simple difference between Coin and NFT tokens, let’s look at our new kind of NFT called a Musibyte.

Just like MUSO coins, Musibytes can only be minted if they are backed by an audio track.

So there are always the same number of Musibyte and MUSO created whenever a track is minted.

The Musibytes are given to the artist, whilst the MUSO coins get deposited in the MUSO exchange.

The Artist can then list their NFTs on the Musibyte market place for fans to trade in MUSOs.

But why would a fan buy an NFT?

Musibytes are a new kind of NFT technology.

Traditionally NFTs are used to create expensive, limited edition, collectables.

You may have heard of stories in the news of NFTs that have sold for millions of dollars. This one from Mick Jaggar and Dave Grohl raised $50,000 in support of the music industry.

However, the Musibyte works in a completely different way.

By employing a new kind of technology we call ‘Dynamic Contracts’, the artist is able to power up their Musibytes with special offers, and more…

Let’s look at some of the great stuff a Musibyte can do.

What Can you do with a Musibyte?

Promote an artist and their work, including up and coming releases.
Provide Updates to Fans through their website or any major social network.
Attach Multimedia content such as artwork, lyrics, and video
Direct linking to on-line sales portals, such as iTunes or Band Camp
Sell or give limited access to other NFTs produced by the artist.
Offer tickets for V-shows and Podcasts. Use our FREE live streaming service, or any other major platform such as YouTube.

Increase Your Income

The Musibyte helps a musician manage campaigns and promote their work directly to fans. But that’s not the only way they support an artist. Musibytes can also help to increase revenue. This occurs quite naturally, without the artist having to do too much, except of course, list and sell their bytes.

Musibytes are sold at a price set by the artist. We offer a special Musibyte Marketplace that makes this really easy to do.

Each Musibyte is linked to an artists Spotify or SoundCloud account, (more services coming soon), and is able to audition a particular audio track, great for increasing streaming revenue!

Each Musibyte is Governed by a Smart Contract that is registered on our special blockchain network. This means that every time a Musibyte is traded a small portion of the sale is credited to the original artists account. WOW!

Collaborate with others to create Special Offer tracks, artworks, or video. Automatically distribute any Musibyte incomes evenly to each participating artist through our SMART contracts

 

Musibytes give artists the tools to engage fans with a whole new set of offers, that can generate new sources of income. These funds can be used to drive new musical creations helping to propel the artist to success.
But that is not all! The Musibyte has one more awesome feature that makes it completely unique. It can also PAYOUT

Payouts

Musibytes are more than just an NFT, they are a digital object that can process FREE MUSO coin micro payments directly to fans.

Today almost all professional artists list their music on some kind of online service to make revenue. Whether selling CDs, download, NFTs, or subscriptions, each artist will have their own strategy to sell their work. But the one thing they all share is they need to promote themselves.

Promotion lies at the heart of an artist’s success!

The main thing an artist needs to generate revenue is to get noticed!

With the Musibyte, musicians can offer simple incentives that encourage dedicated fans to promote their work. Fans who actively support an artist can get rewarded for doing it.

How it works

PREPARE

The artist launches a new release and adds a promotional link to the associated Musibytes.

PROMOTE

Musibyte owners use the link to promote the track. Each Musibyte records the number of ‘unique clicks’ the link produces.

PAYMENT

As fans promote the artist so income is generated from sales and streams. This is collected by the artist from whatever payment platform they use.

PAYOUT

If a track performs well, the Artist can payout revenue to fans who hold their Musibytes. They can even use the links statistics to distribute bonus rewards to their most dedicated fans.

Payouts give fans the impetus to promote a musician’s work. They can help establish the artists they love and get paid for doing it!

Fan Rewards

The Musibyte provides a lot of functionality for both Musicians and Fans to interact more closely. But it also has a few extra tricks up its sleeve that make it even more appealing.

 

Artists can payout to fans in a number of ways, besides MUSO coins. Give out bonus Musibytes or power them up with something special for your most dedicated supporters.

Power UPs!

Discount Coupons

Give fans money off shows and new releases.

Timed Updates

Set up a schedule for payouts, and let fans follow the countdown.

Limited Duration

Provide offers and payouts for a specified length of time.

Targets

Release bonuses for sharing links or getting a specified number of clicks.

Competitions

Give out prizes for top fans who offer their support.

Unique Offers

Create new private content only available to Musibyte Holders.

Fan Investors

The Musibyte offers a whole new ecosystem for fans and artists to collaborate more effectively.

Fans who receive rewards for promoting an artist are more likely to develop a deeper connection to their work. At the same time, the value of an artist’s work increases with popularity and kudos. Rather than relying on a single company to manage a roster of artists, the marketing force is driven through a circle of the artist’s most enthusiastic fans.

People who love an artists work are far more likely to do a better job at promoting their music

so everyone is a winner!

Muso wallets

With blockchain technology, we no longer need to store our assets in one place, such as a bank.
Instead, we can hold our own assets in our own account. This is called Decentralized Finance or De-fi. Lets look at how this works.

Regular Banking

Traditionally, we store our money in an account that is held by a bank. The bank technically has the power to freeze your account, denying access to your funds. This can be great as a form of anti -fraud protection, but can also be a real pain if you need to access you money.

De-fi networks

So how about we change the picture and let you store you own assets on your own account. This is where blockchain technology can help. Now it is possible for us to become our own bank, and hold a record of our assets on our local machine, and even our mobile phones.

Now when we make a transaction we can do so without the need for a bank or similar. This is called peer-to-peer (p2p) or business-to-business (b2b) technology.

Storing your MUSOs and Musibytes

Once you have purchased your MUSOs or Musibytes you might be wondering how you can access your assets. This is where the Muso wallet comes into play.

The first time you buy a MUSO coin, an account will be created that can be used to keep track of all your assets.

By logging in to your account you can buy & sell MUSOs through the exchange, and List & Trade Musibytes via the market place.

But that’s not all!

You can also download the Muso wallet app (coming soon), and store your digital assets on your mobile phone.

We will still provide a backup of your account in case you should lose your device.

Cash utility

The Muso wallet allows you to make day to day transactions from your MUSO account.

Paying for everyday goods and services is a snitch with our VISA card integration. The mobile app comes with tap & pay functionality, so using your MUSO wallet is as easy as any regular banking app.

Except now, you are the bank!

The next steps

So now that we have explained the MUSO and Musibyte in detail, you might be wondering how you can get involved?

FIND OUT MORE

If you want to find out more about the plan, then check out our road map for full details of the MUSO ICO.

Purchase Coins

Additionally, for all those who want to purchase our pre-sale MUSO packs you can visit the Bureau de Change. They have all the information there.

Donate Music

Right now we are accepting new submissions from artist to donate just 30 seconds of music, so we can get the MUSO mint up and running.

Musician's Application form

Donate 30 seconds of original music, and help us get the MUSO Coin started!

Fill out the form below to add your offer to the MUSO coin ICO, and you never know, it might even pay you back!