Music is the universal language that connects us all. However, piracy issues are becoming more common lately, with litigation in the music industry becoming more common. Fortunately, all was not lost. This issue could well be resolved with the advent of the music blockchain platform Melos Studio.
Melos Studio uses BNB Smart Chain technology to capture musical inspired moments. It works using a unified decentralized meta and music Web 3.0 platform that creates a pathway for partnership and enables interaction between musicians and other music creators. Its user-friendly interface allows just about anyone to create their own music with a set of free and easy-to-use tools. The resulting content is then printed as NFT and uploaded for sale on the NFT market.
Besides enabling the sale of music NFTs, Melos also adopts additional features such as NFT staking and NFT transaction mining. A unique feature about this platform is that the printed NFTs are permanently stored on the blockchain and are accessible at any time. Melos Studio’s goal is to ensure that no music is lost; preserving the authenticity of parts for the enjoyment of both present and future generations.
What is Melos Studio (MELOS)?
Melos Studio, an innovative decentralized music NFT marketplace, was founded in Taiwan in 2020. It is a unique platform that allows artists, musicians and even creators to showcase their talents to a community of fans and users.
The Melos platform serves as a convergence point for creators, artists and musicians (and their fans/supporters). Melos Studio’s ecosystem allows creators to earn money after their work is sold. Its ecosystem runs on the FLOW, ETH, and BNB blockchains.
Melos Studio is dedicated to providing quality services to the music industry and to furthering the use and value of music NFTs.
As of this writing, there are more than 800,000 registered users on the Melos platform. In March this year, the studio announced plans to launch a Web 3.0 mechanism focused on content discovery.
What is MELOS Coin?
MELOS is the official (or native) token of the Melos Studio platform. Being both a DAO and utility token, this token has several use cases. For example, fans can use the MELOS token to tip their favorite artists and gain access to special privileges on the platform (for example, music NFTs). This token can also be used to raise the funds needed to open a new studio. Proceeds from issuing NFTs are shared in the form of MELOS and distributed to each collaborator.
The ongoing Web 3.0 content creation marketplace economy will be powered by MELOS tokens in the near future.
How Does Melos Studio (MELOS) Work?
The NFT creation process works systematically through a series of steps that allow all creators to earn rewards from the sale of NFTs. Here is an example:
Pianist A records a melody and prints it as a music NFT named P0.
Person B encounters P0, likes the melody, adds a guitar melody to it, and prints the combined piano-guitar NFT as P1 NFT.
Vocalist C hears the combined P1 NFT, adds their vocals to it, and reprints it as P2 NFT.
With this method, all co-creators of NFT are entitled to a share of the profits. It also encourages more interaction between fans and creators.
Melos Studio Key Features
Melos Music Blocks
This refers to a particular piece of music that has been uploaded to the blockchain and undergoes the process of “forging” into a music NFT.
Virtual Tape
This unique feature allows fans to create music and rhythms with their favorite musicians on the Melos Studio platform. For example, a virtual group could be created by inviting another creator to create their own Musicblock, resulting in a brand new Musicblock.
Creators may then jointly decide to sell their newly created Musicblock NFT, and the proceeds from its sale will be shared by all interested parties.
Music Auction
This feature serves as a marketplace for music NFTs.
Jam
Jam refers to mixing two or more music tracks on the Melos platform.
Solo Forge
Solo Forge means solo Musicblock creates a different melody, for example a new Musicblock.
Jam Forge
This term refers to the combination of two different Musicblocks to create a new Musicblock.
Metis AI Music Workshop
The Melos Studio platform offers online tools and features that give users the opportunity to easily compose their own music and create it as NFTs on the blockchain.
This feature is especially useful for beginners because it helps users complete songs with a few notes.
Melos Launch
This is a platform that allows users to drop their music into Melos Studio and allow artists to connect with their fans on the Web 3.0.
DNA and DNA Tree
In Melos Studio, “DNA” stores all information about the creators of each Musicblock NFT. A Musicblock NFT is created when a piece of music is beaten via Jam.
As the forge process is performed from one generation to the next, DNA information from each creator set is constantly being uploaded to Musicblock. This collection of information results in what is known as the “DNA tree”. All contributors to a Musicblock to monetize their work are tracked and rewarded based on the profits from their creation.
How much is MELOS Coin?
According to current crypto money market data, 1 MELOS Coin is traded at TL. MELOS Coin price has changed in the last 24 hours. The trading volume of MELOS Coin in the last 24 hours is in dollars, and its total market value is in dollars.
How much is MELOS Coin?
According to current crypto money market data, 1 MELOS Coin is trading at USD.
Melos Studio (MELOS) Coin Review and Future 2022
Thanks to its unique use cases, MELOS has consistently enjoyed high-profile investors (e.g. Binance Labs, Multi-Chain) since its inception. Capital and NGC Ventures) and partnerships. The latest collaboration is with MEXC Global, a leading cryptocurrency trading platform – an exciting partnership committed to increasing the adoption of music NFTs and improving the music experience for creators and fans alike.
It’s only a matter of time before we see a significant increase in the value of MELOS with its outstanding win-win feature. The features we discussed earlier – Melos Musicblock, virtual bands, DNA tree and more – will undoubtedly increase the use of music NFTs in the crypto world.
As mentioned earlier, perhaps the most interesting feature of Melos Studio is the recently announced launch of its algorithmic-based content recommendation model in Web 3.0. This acts as a good platform for fans to access high quality music content. An increase in the availability of MELOS will certainly lead to a corresponding increase in its price.
Since its inception, Melos Studio has faced a fair amount of challenges. However, despite facing many challenges, it has been able to keep going and shows great potential in leading the next era of music streaming.
Melos Studio developers have put together a solid action plan based on the ultimate goal of the platform to have music that can be heard anywhere and anytime. If Melos Studio can successfully implement the aims, services and targets listed in its roadmap, it is certain that there will be a significant increase in its market value. Later, this will attract more investors and users.
In 2022, music blockchains like Melos Studio are making a splash in the crypto scene. So far, things are looking good for Melos Studio, but we’ll have to observe more to be sure.
