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Musiconomi answers your questions - read Musiconomi FAQ

Musiconomi FAQ Here’s a few of the common questions and answers that we’ve been getting from community members since announcing our business plan. If you have more questions, please take a look at our business plan and reach out to us in our Slack. What is Musiconomi?

Musiconomi will reshape the way listeners and musicians engage, building on the capabilities made possible by the Musicoin blockchain. We envision a rich ecosystem where sharing and promoting great music deserves its own reward and where artists can incentivize social sharing to suit their needs. Buying Musiconomi tokens (MCI) will ensure that the platform will be built to the highest standards that will enable you to support artists directly and help to create a vibrant, transparent and thriving music economy that works for everyone.

What Makes the MCI Token Valuable?

The MCI token was designed for utility, and to facilitate and encourage value growth within the platform as a whole. When MCI tokens are used, they are not spent, but instead are ‘locked up’ and removed from circulation. By locking them up, token-holders gain access to a myriad of tools and features which enable them to earn revenue within the music economy. Every time a new participant acquires tokens and becomes active within the Musiconomi platform, there is the potential for more music to be shared, more revenue to be generated, and more value to be created.

What will the MCI tokens be used for?

MCI will be used to unlock features on the Musiconomi platform that enable users to generate revenue, catering to wide range of user groups, from casual listeners, to entrepreneurial music promoters, to music critics, to DJs. Using MCI will give access to a dynamic platform that goes far beyond a simple streaming app.

Can you give some specific examples of planned MCI uses?

Yes!

For instance, users will be able to act as a “virtual micro-label”, selecting and backing their favorite artists and tracks...

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