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 with MCI, effectively building a roster of musicians. The more backing an artist has, the more prominently they will be displayed and, in return, artists can allocate a portion of each playback to be shared among their backers. The process of backing an artist will be easy and fun, making it attractive even to casual users, with stats to show how well you’ve done that can be shared on social media.DJs will be able to use MCI to create and share playlists, curating and filtering the Musiconomi catalog to cater to an audience of like-minded listeners. Again, artists can allocate a portion of each playback to be paid to the DJ that created the playlist. By building a reputation for finding and promoting great music, DJs will attract their own following.Music reviewers and bloggers will be able to use MCI to unlock blogging features that will integrate directly with the platform. Bloggers will be able to earn revenue by embedding tracks and will also be able to earn blogging revenue directly through a “pay-per-read” or subscription model.For more details, see our recent blog post on token utility. Will more uses for MCI be added later? Absolutely. What we have presented here is just a small sample. Additionally, our goal is to bring in more and more user groups that are part of the existing music economy and give them a way to participate directly. By increasing uses and users, we believe demand for the token will rise steadily for the foreseeable future and also for the long term.