About Us
What is MusicLife?
MusicLife is a blockchain-based music ecosystem. It is comprised of Software Development Kit (SDK), a hardware embedded system and a Music Exchange trading program. For music connected to MusicLife, we have rebuilt the way pricing is comprised. Users will automatically invest in music by listening to songs. In turn, the musician and the record company will also benefit from each play. MusicLife has established a brand-new environmental pricing format, where prices and market values will be automatically calculated and evaluated based on the existence of music listeners. A part of the music shares will also automatically go to the users who purchased the song. MusicLife seeks to help the current music industry and break the deadlock between copyright infringement and piracy. With this in mind, it will truly benefit every aspect of the music industry. MusicLife is operated by the Singapore-based non-profit organisation MusicLife Foundation and the Japanese company MusicLife Co. Ltd.
A blockchain-based platform
The music ecosystem is based on blockchain and a Token economy
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. All MITC owners are MusicLife owners and share a series of rights such as income distribution, asset appreciation, election supervision, and special usage etc. Through MITC, all members of the community can be strongly motivated and everyone can actively promote the development of the platform. The main network of MusicLife will be launching in 2019. Before activating the main server, MITC will be published based on Ethereum’s ERC-20 and ERC-223 tokens.
Music pricing
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.
Hardware pricing
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 MusicLensâ„¢ Audio Glass.
Software Distribution
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.
Echo is a music app designed for young people. It provides innovative media services and has 30 million users worldwide. As the first software to access MusicLife, you can get MITC by checking into the Echo fan community, and use MITC in the Echo system.
Musicians and Music Production companies
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. This is the commercial model that the entire music industry has dreamed of since the digitisation of music. In the blockchain system, this model will become real for the first time. Join MusicLife now and experience the new wave of music revolution!
Music Exchange
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.
2018~2019
MusicLife
Development Planning Roadmap
January
- Create inspiration
- Design frameworks and economic models
February
- Successfully negotiate with the first batch of hardware and software partners
- Complete the first edition of white paper
- Start technology research and development
March
- Foundation registration
- Official website goes live
April
- Improved economic model
- Decision as to the design of the public blockchain
May
- Generate MITC token
- Draft second edition white paper
June
- First telegram drops 100,000 people, 3 days to achieve the goal
- Update second-generation official website
- Update second edition white paper
- Total drops 300,000 people in June
2018 Q1~Q2
July
- In july, the total number of airdrops reached 600 thousand
- Access first software: echo
August
- Establish research and development team of the Exchange
- Design prototype of music exchange
September
- Establish team of mining research and development
- Confirm the plan of mining hardware
October
- Test access to chips that can dig MITC hardware
November
- Formal access to dig MITC hardware—Musiclens
December
- Trial production of digging MITC hardware
2018 Q3~Q4
January
- Small batch production of “Mine Machine” to dig MITC hardware
February
- Official delivery of “Mine Machine”
March
- Designing Music Exchange to access mining
April
- Music Exchange enters the stage of research and development
May
- The software and hardware adjustment of mining and withdrawing token
June
- MITC online exchange
2019 Q1~Q2
July
- Research and develop trading system
August
- Research and develop payment and wallet system
September
- The internal test of Music Exchange go live. The first musician joins
- Link music exchange and mining
- Production of the first MSCT
October
- First celebrity collaboration
November
- 10 musicians
- 100 songs settled
December
- Create a song valued over one million dollars
- Token Mining Users of MITC reached 50 thousands
2019 Q3~Q4
EXCHANGE
LISTED EXCHANGE
MitCoin(MITC) is ERC20 Token powered by Ethereum, you can trade in digital currency exchange
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An equitable next-generation music evaluation system
© 2021 MusicLife Foundation
Contact Us [email protected]
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