LBank AMA Recap with MELOS
On 23 March we held an AMA with the MELOS, hosted on LBank official telegram channel. If you missed this telegram session, here’s another chance to get a full transcript of the AMA event.
I am Yalu Lin, the Co-Founder of Melos Studio.
currently based in Taipei.
My 1st investment in crypto was in 2017
I was very interested in blockchain technology and can’t stop thinking about how it can change the world
I joined Machi X in Machi X at the very beginning, back in 2019. Machi X started off as a music copyright marketplace
We listed 59 songs from Golden Melody Award-winning artists. One of the songs was listed on Binance DEX. Machi X is also a project listed in ethereum community website
I learnt a lot about crypto and the music industry during this time
in Melos Studio..
we are a team of musicians and experienced blockchain tech professionals who are more than excited to bring our unique create-to-earn music ecosystem
Through NFTs, We enable co-creation of music creation processes similar to github and profit-share to all the co-creators throughout the generations.
in terms of the problems existing in the traditional music industry…
I posted them on my personal Twitter account (@yalulin)
1. Publishing: too much hand work or labor work. profits is diluted throughout.
2. Marketing: unfocused market strategies, often resulting in fans being fed what they listen to. Fans want to enjoy finding new styles of music.
3. Music copyright: it was invented 200 yrs ago. It takes music as a virtual asset managed on paper records. Outdated.
Melos provides a solution to these
or, modestly to say, at least an example of how they can be done alternatively
First five AMA Questions (First Part):
Please tell us about your team?
i’ve intro about myself
We also have Jim, another co-founder
Jim is one of the core experts of Java machines in Aplix which is a Japanese listed company and key partner of SUN. He devoted himself to the innovation of the IT area for over 20 years.
He also has been a music lover since childhood.
He has a musical studio and helps people to mix audio, train bands and voice recording.
We started our conversation about how music creation can be like in web3. So… Melos Studio!!
then we also have Vera and Leo to join us at the very beginning:
Vera is experienced in marketing and is a part time singer. Leo is also a very experienced developer. We all share the same passion for music on web3
We built Melos Studio to allow these musical pieces to be seen in public and give a chance to get others to collaborate in Github style through blockchain
might as well share here…
We are fortunate to have Binance Labs, Dapper Labs, Innovion, NGC ventures, Multichain Capital and CryptoPhd as our strong supporters
They’ve all been helpful by providing us with support & guides to strategy, marketing, necessary technologies, consultation, and incubation services.
Thanks to these strategic investors, Melos Studio can draw support from key industry leaders to help it with the Public Sale and call for communities and alliances to support its ecosystem activities. Besides, these strategic investors will also be actively helping all artists to retain and celebrate their inspiration, and to freely create, share and profit from this musical utopia.
There are already several existing NFTs platforms, maybe not specially focused on Music. How is Melos Studio different? Can you briefly describe what MELOS STUDIO is?
Melos is the destination for creating, discovering and collecting original music on Web3
The core vision of Melos is to create an ecosystem in which all fans of music can participate in the creation process and be rewarded for their efforts, From the casual music fan to the professional musician or producer
the Melos platform offers tools and features to take not only music enjoyment but NFTs to the next level
We use NFTs very differently, most NFT projects are using NFTs as a storage medium, to store graphics or music, At Melos, we are using NFTs as a proof of creation or co-creation. This gives our NFTs a dynamic collaborative function as MusicBlocks within our DNA Tree system
This is an example of how the NFT creation process works and how stage of the NFT chain is rewarded for their efforts and contribution:
1. Pianist Aditi mints a piano tune as G0 NFT
2. 2. Bob sees the NFT and likes the tune, and adds his guitar riff to it and mints piano and guitar G1 NFT
3. 3. Camilia comes across the G1 piano plus guitar NFT and adds his vocal chorus to it to mint piano, guitar, vocal G2 NF
In this way, all co-creators are profit sharing. and you can see there is a new interaction between fans and creators, as the fan can also be the creator. People also see this as the github style for music creation process, this results, eventually, a democratic and transparent ecosystem between music artists and their fans
How do you consider non-musician in Melos Studio? Do you have any workshops and musicians that can teach to non-musician that want to explore more on your platform?
in Melos Workshop, there is a tool. An AI assistant that we called Metis, that can help you complete a song even if you insert only a few music notes
even music newbies can create music with Metis AI workshop
To be honest, I am not so much of a music creator as my co-founder Jim. I’ve learnt to play music with Metis AI on melos studio. It’s been fun and exciting.
Can you talk about your project development roadmap? What’s achieved to date and the 2022 targets? Any hot updates we should be looking for?
We launched Metis AI music composer and our marketplace late November last year.
And turns out that
1. indie artists want to use our platform to launch their music NFTs
2. 2. music newbies want to play with more music.
This year, we are going to launch Sonus NFT, Melos O (Original), Artists’ Premium Page, Virtual Band, Sound of the Week(SoW) and Music NFT Stake & Mine on Melos Studio.
Music lovers are going to be able to enjoy creating, minting, and rewarding on web3
Can you tell us the key features of Melos Studio?
1) Metis AI Music Workshop — Music NFT Creation
2) Decentralized Music NFT Marketplace
3) Sonus NFT — Convert pfp NFTs to Music NFTs
4) Virtual Band — Co-create with favorite artists
5) Melos Launch — Drop your music to Melos Studio
6) Music Auction — Regular English & Dutch Auction for Music NFT
7) DNA Tree- A diagram to illustrate the DNA structure, so when a final music piece is sold all compositors will share its value thro the NFT chain. It provides a new solution to fulfill today’s lost value extraction by community mixing the original music pieces
Have you guys gotten any big musician/producer backing you?
Trey Songz, David Bowie Foundation, Wu-tang Clan also the most iconic rock band — Queen.
Melos Studio provides various support for all music creators with passion and dreams.
We hope to improve the music creation economy through blockchain technology. It strives to increase the income of most musicians and motivate them to create, rather than just helping successful musicians. Of course, Melos will invite music celebrities to release their music NFTs.
so, something huge we are going to announce — we will release music NFTs for Queen — the world renowned rock band formed in London in 1970 and also the Grammy Lifetime Achievement Award winner who sang the most popular songs in the world — “We Will Rock You” and “We Are the Champions”
Can you tell us more about Queens & Melos Studio NFT?
Certainly — The most influential rock band Queen is onboarding to Melos Studio!!
Queen’s first ever music NFTs will be dropped on the 25 March 2022 on Binance NFT with Melos Studio!
The NFT, minted by Melos based on the exclusive NFT technology, can permanently preserve QUEEN’s fusion of versatile music, diverse and gorgeous music style, extremely characteristic harmonies and beautiful melodies, personally and permanently experiencing QUEEN’s charisma. As described by the lead vocal Freddie, “Queen is the natural coming together of several people with completely different personalities”: Freddie Mercury with wild imagination, guitarist Brian May with a calm and meticulous attitude, drummer Roger Taylor with a strong passion for music and bassist John Deacon with down-to-earth pragmatism.
There will be only 17,698 Queen Music NFT Mystery Boxes on sale.
Let me show the detail of the Mystery Box:
N:Contains 3 music NFTs, which are 3 exclusive musical audio of Queen Band.
*R:Contains 2 music NFTs, which are 2 exclusive musical audio of Queen Band.
**SR: Contains 1 music NFT, which are 1 exclusive musical audio of Queen Band.
*SSR: Contains 1 music NFT, which are 1 exclusive musical audio of Queen Band.
There also will be rewards with them
Collect the corresponding NFTs to win 4 kinds of rewards:
*Collectors having N or R cards during the primary sales time may have the chance to share 1,250,000 WAVE points prize fool from Melos Official Website.
**Anyone who collects 3 N types or 1N+1R types mystery boxes during the primary sales time, can share a 30,000 BUSD prize pool.
*Anyone who collects SR during the primary sales time can receive another NFT airdrops from Melos Official Website
Follow @ TheBinanceNFT @ Melos_Studio on twitter to get more details!
Selected five Questions with Answers from the Telegram community (Second Part):
Since NFT is popular nowadays, is there a plan for NFT integration?
well… kind of
we are launching Sonus NFT, adding backgroun music to picture NFTs. We demostrate how to interact with the other NFTs in the space
There are 5 different Member Levels in Melos platform and to reach each, users should hold a certain amount of $MELOS.
Can you kindly tell us what are the advantages of each Level? Why should we try our best to reach higher levels on Melos?
in melos, we are going have some fucntions taht you need to hold or consume Melos in order to gain access to
and different membership levels will have different levels of holdings to consume
we also have DAO, where the tokens will be used to vote
Currently from where i can buy ? Is it possible that I can get only by holding it?
also kucoin, MEXC
we are launching mining but you still need some tokens and Melos NFTs in order to mine
Can you explain how is your Tokenomics Distribution? How many tokens Will be minted ? And How many tokens Will be locked by the team?
Is your project only for elite investors, what about others with small funds, is it open to everyone?
it is accessible for everyone now. we’ve listed now
just like what we want for music, we want everybody to be able to access to all music araound the world. we are listing on Lbank (also kucoin and mexc ) so it is easy for poeple to access around the world.