The world’s first 100% transparent Ethereum based, self owned Music & Digital Media Platform.
Once per Lifetime Registration fee for artists. Artists receive their registration returned as MGM tokens to hold, gift or spend or *cash out (*every 6 months.)
Every track, album or subscription sold is divided as follows:
80% is paid directly to the artists wallet. (normally within minutes, artists cover gas fees on the network )
10% is pooled and used towards running costs such as Dev, hosting and publicity.
10% is injected back in to the token.
Powered by blockchain, this happens transparently using “Smart Contracts”.
Artists receive Publicity Packs and promote their work via the platform within minutes.
From the first sale of the first track everybody wins:
Lets say the price of a track is $1. The artist receives 80 cents and the other 20 cents are divided between the token and the running costs so effectively for that first track the token value is now (token value + $0.10/total tokens).
The only tokens minted in the first year will be $25 of tokens each time an artist joins up to 1000, and $25 tokens each for the 2 founding members.
The tokens cannot lose value since the value is augmented each time an artist joins and then divided equally by the tokens. Ultimately in the worst case scenario where no artist sells anything, the SIX MONTH RULE will trigger in the contracts giving every person holding MGM tokens, the opportunity to exchange them for their cash value, which of course will be $25 in this highly unlikely worst case Scenario.
The platform will be limited to 1000 Artists at any given time. Once these 1000 places exist there will be no new artists except If an artist Dies or an artist chooses to leave the system permanently by cashing out their initial $25 of tokens.
Artists may cash out everything at any time but to remain in the system and utilise the platform they must maintain a minimum of $25 value of tokens. So aside from their earnings (80% per sale) they may also end up with say token dividends of $70 of which they could further cash out $45 and remain in the system.
- The ideal starting value in the model was 1000 artists and 2 founders.
- which equals 25050 tokens that can be minted in the first year and a total potential minimum value of $25050.
- with a further 25000 tokens on sale to the general public for trading purposes.
If each of the 1000 artists earns in the first six months ~ $10 in sales that means that $1000 of value is injected back to the MGM token. so that after six months 1 token which started off with a value of $1 now has a value of $26050/25050 = $1.03992015968 per token and so each artists tokens are worth 25 x 1.03992015968 = $25.99. this may not look like much but we expect artists to sell on average between $50 and $150 every month. with these numbers the token will gather momentum.
Artists will be motivated well to sell their music this way because they know that by doing so, in the long term their investment of the initial $25 is growing steadily and they will receive bonus tokens for reaching selling landmarks and other incentives like live events and streams.
Phase 2 involves selling the other 25000 of the remaining mintable tokens that are not used as track incentives etc to the public and letting them be used as payment for tracks and other media on the site. Also trading will take place as new artists come on board because if we see an artist starts to generate $100 a month then we know the token price will benefit from %10 of this so we can ourselves go and buy tokens that are in the market just like with any other crypto asset. In this way the only way is UP!
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