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Introduction
Decentralized Music NFT Marketplace, combining NFT and DeFi, SocialFi, makes music artists, fans and music industry participants fully enjoy the huge profits brought by the blockchain music economy.
MusicY DAO is a decentralized blockchain organization that provides the following activities:
- Building music NFT trading platform
- Building a two layers token economic incentive system, in which two layers indicates the MusicY token used for governance DAO and for musician Privilege Token
- Provide an abundant NFT minting forms and sales modes
- Deeply integrate crypto miners and followers, provide constant transactions for NFT trading platform, and bring richer sources of income to musicians
- Fully DAO driven ecological governance mode
The key function of MusicY DAO on the current phase is the music NFT trading platform, which provides musicians and followers with NFT trading, crowd-funding, online activities, crypto mining and other DeFi features, and promotes the music industry to enjoy the dividends of blockchain and Web3.
Token economic system
On MusicY, the holders of MusicY Token and musician Token can be provided with a certain DeFi features. The holders of MusicY token and musician Token can obtain periodic income by pledging (rewarded as MY).
MY is a music governance token, which is mainly used to govern and encourage the ecological development of music and drive the sustainable development of circulation.
MusicY platform tokens (ticker MY) have two prongs of functionality within the protocol unlocked by staking:
- Product Feature access
- Governance
It shall be decided though voting on how to maximize MY values and increase profits of artists, fans and investors, such as NFT mining and rewards scope, random airdrops MY.
