Melos Studio AMA TranscriptCapture music inspiration into NFT
Hello everyone and welcome to the AMA with Melos Studio!
Today we have Yalu, the Co-Founder of Melos Studio
Welcome Yalu @yalulin
Great to have you here
So how this will work is, the AMA will consist of two rounds. The first round will be us going through the questions that I had prepared for you before hand. And then the second round will be a community round where I will open up the room to allow questions to come in. The second round is also where we will select the two winners of our giveaway 🙂
thank you for having me and its a pleasure
Awesome so let's get right into it
1. Please give us an introduction to yourself, what is your background?
so… i first invest in crypto in 2017
Machi X started as a music copyright marketplace ecosystem where fans, collectors, and patrons can buy and sell music copyrights. We listed 59 songs from Golden Melody Award-winning artists such as A-Mei, Jolin Tsai, Leehom Wang, Stanley Huang, and Nicky Lee. These are equivalent to Grammy’s awards in Mandarin Chinese music industry. One of the songs was listed on Binance DEX.
I was in charge of the operations and handling song IP purchasing, legal, and etc. Co-op with music creators, singers and their agents.
Machi X pivoted into a DAO, focusing on NFT art curation and helping bringing artists to crypto.
well, this is where i learnt a lot about music industry and blockchain applications.
so… Later i discussed with my friend Jim who has been developer for decades, and a musician for his entire life time, so we thought we can do another music project, Melos.
Jim is also the co-founder of Melos.
That's great Yalu, thank you for that introduction
With your extensive background in the music industry as well as the crypto side, I guess this project is a perfect fit for you
this is the passion
But to speak more about the project itself
2. What is Melos Studio? What is the overall vision that you have for your platform?
Melos is the brand new web3 ecosystem for music creation.
We, human, are just highly emotionally attached to music
We are building an ecosystem where people can enjoin music creation with more fairness, more open, more value, and more fun
on Melos, we are providing tools for people to collaborate in music creation, where each profit can be share in all creations.
for music experts or music newbie
and we are doing this through NFTs
So a big question that I had was this
Since it is on blockchain and all transparent
Would a singer, producer and let's say the sound engineer be able to see how their song is doing profit wise and use a smart contract to receive their profits?
we’ve adopted DNA in our Melos music NFTs….
for example, musician Alice mints her piano tune as G0 NFT, Bob see this, buys it and then add his guitar to mint as G1 NFT, Fred buys and add his drum to mint as G2 NFT….
all their work and info are in the DNA, and when an NFT is sold. the profit can be traced and share to all the creators (or co-creators) Alice, Bob and Fred
Yeah that's actually a very neat concept
Game Changing for those who want to share their music and make some money from it as well
So before we talk more about the DNA feature
Let's talk about some other features
3. What are all the features that you offer on Melos Studio?
right… there are actually a lot…
by using NFT as proof of creation and co-creation, we actually have a new dimension of relationships between original creator, fans and collaborators
in the previous example, say if Alice is a already famous artist, she issues her idea/inspiration first. then her fan Bob, can buy and add more music work to it, and Fred adds more….
maybe Alice likes and buys it back to add more, then they all agree to publish this work… boom… all collaborators receive additional recognition from the community
and there are more
we are going to have “Virtualband”, the next generation tool that will make music jam as as easy as using google docs
so you can create music with your friends with different timezone and places
we also adopt NFT staking, collecting reward, etc so there will be more fun to create and play with music
Virtualband is our next generation tool that will make music jam as as easy as using google docs
So you are offering a one stop shop sort of ecosystem for music creators
oh correct. we have marketplace, social platform etc also
So after your explanations this next question goes without saying but I want to hear your answer on it either way
4. How will you do your part in finding that next “big” artist? How does your platform incentivize creativity and talent?
well, yes, the long term goal is to find more creative talents on our platform.
but to start with, we have Trey Songz unreleased music. The Trey Songz, The king of r&b!
btw, we have his music on NFTs that are going on blindbox sale on Binance NFT August 31st. This is his first ever music NFT drop and Binance first music blindbox. Please come and check them out.
then these NFT can gain staking reward on our platform
and these music will also be our first material for people remix and cowork music
then the ecosystem starts, holders come into our platform and play with music nfts, and stake, and trade, and share profits….
hope this answers the question
Yeah great answer
thank you 🙏
Trey Songz is actually one of the biggest names that I naw come onto DeFi so when I heard about that I was very excited to learn more about your project
5. Can you tell us more about the DNA Tree as well as Respecting the IP?
in the Alice, Bob, Fred example mentioned earlier…. all the co-creators' info are recorded in the DNA of Melos' NFTs, so… whenever there is a sales made, there the profits can be traced and shared to all of them. and this respects the IP
I see, so because it is on blockchain. the DNA shows the origin of all contributors
My next question is about utility
I know you touched on staking but let's talk more about the process as well aas rewards users can earn
6. Aside from ownership, what utilities do the NFTs hold?
NFT staking, proof of creation, new format of art-fan-collaborator relationships. Your fan can also be your collaborator.
You don't have to stack your music inspirations in your harddrive, you can now put them on blockchain and have somebody else create on top of it… this is like the github for music creation
i think this is the most important for music creators
Awesome, thank you for that answer
In terms of the actual process itself…
7. How does one go about minting an NFT if it was for example them playing the piano?
the interface is going to be simple, so user can just drag and drop, if you created the music outside of Melos platform.
we are also providing AI assisted tools for you on Melos so you can just input a few music notes and let the AI assistant complete the rest of the tunes for you. Literally anybody can create music.
Okay yeah that is very simple
Is this so that any music creator no matter their knowledge of DeFi can access your platform?
correct! UI is going to be made simple and we are also writing handbook to guide users.
And from what I know you have a native token as well correct? Could you tell us more about that?
yes, it is going to be DAO token and also utility token to access functions on Melos platform such as minting, music creation, staking etc
Wow they’re designed to be mined for the next 10 years?
That shows the dedication that you’re here for the long term
totally, long term goal
music is forever lasting
Yes, very true
8. Where do you see this project in 5-10 years? What kind of impact do you think you’ll have on the future of the music industry?
We want to see lots of new talents being discovered using our platform and become successful.
We want to see a cultural of creativity, diverse and fair treated values
we want to see that everybody can create music and be valued
and everybody can enjoy creating and working with music
and we want to see music creation being as active and openly recognized like how coders can share their codes and build their works on github
that is our vision
So last but not least
9. Any exciting news you’d like to announce here today?
haha, i think i kinda already did.
Trey Songz music NFT blindbox sale on Binace NFT August 31st. really hope see you all there!
link is here:
And could you please provide us with links for Melos Studio?
For anyone who wants to stay up to date on the latest news for Melos Studio, go check out those links above!
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