What Is Melodity (MELD)?
Melodity™ token (ticker $MELD) is a DeFi token hosted on the Binance Smart Chain (BSC). It is the store of value for the environment acting as a share token.
Melodity is taking the music industry one huge step further towards the decentralized creator economy and has started to build Web 3.0 monetization infrastructure to support music artists in completely new ways.
To do so, Melodity is building a premier ecosystem, the “DoEcosystem'', that consists of listen-to-earn, P2E and Metaverse based on a proprietary blockchain that will empower opportunities for music artists, professionals, fans and music lovers. Three of the main platforms are DoDuet, DoMart and DoMeta.
DoDuet platform, with a listen-to-earn model, will create an innovative experience like no other. DoDuet is infact a user-friendly contest platform that gamifies Music and provides visibility and an easy-access prize pool for artists. The platform will reward listeners participating in the contest by listening to tracks and voting.
DoMart, the NFTs marketplace platform, will provide not only NFTs distribution, but also a full bunch of possibilities for selling, buying, licensing and managing composite NFTs.
DoMeta is an almost completely music oriented metaverse, where users can enjoy their time playing and interacting with each other or participate in live events. It intends to draw the gaming community by combining DeFi, blockchain technology and non fungible tokens — as well as a play to earn model — into one unique package.
Melodity is a protocol designed with the idea at heart to give freedom and new means to all music artists so that they can unlock the full potential of their music.
The ecosystem will always be a place where creativity grows in endless ways. The main goal is to allow music artists to maximize their incomes and visibility by creating and offering them advanced instruments for managing their own art.
The Melodity project was born of the passion and drive of founders in helping to relieve the challenging financial circumstances of small independent music artists. As ex amateur musicians and event organizers, the founders witnessed first-hand how some of their close friends struggle to generate income or returns on their art.
To do this, blockchain technology and DeFi elements are incorporated to create perfect platforms for music artists where they have full control on their creations and methods of distribution, in order for financial sustainability on music to become a reality.
Why Is Melodity (MELD) Unique?
Melodity aims to change how independent musicians earn revenue from their creations giving them the freedom to monetize while increasing their visibility in the musical scene.
Melodity’s protocol can ensure this via a unique protocol where listeners and artists are strictly linked together:
Artists shouldn’t create music and sit there waiting, they are a key part of the protocol as we think that an artist to grow stronger needs to listen to other’s creations.
Listeners are encouraged not to always listen to their favourite songs and genres but to always look forward and discover new artists, songs and genres.
Melodity’s unique revenue program also encourages artists and listeners to actively interact, publish creations, listen to other’s tracks, and always discover new possibilities.
A brief explanation of how an early part of the protocol works:
- Musicians create their music and export their creations in mp3 format.
- Musicians upload one or more of their creations to one of the platforms, the track is then encoded and stored.
- A unique NFT gets created and assigned to the musician. Now a musician can stop his trip here, he can publish his track or keep it private. If the track is published it gets listed on the platforms and become available for users listening. Additionally, a musician can proceed with the second phase of the protocol as follows:
- A musician participates in the weekly track election with one or more of his tracks.
- Listeners are encouraged to listen and assign a vote to the tracks listed in the weekly election as they receive a prize.
- At the end of each week, the top 3 most voted tracks owner receives a prize based on their position on the leaderboard.
How Many $MELD Coins Are There in Circulation?
MELD Launched as a smart contract on the Binance Smart Chain, with a capped supply of 1 billion MELD. 3.5% of the initial supply gets sold in the ICO, 2% gets sold in IDOs and IEOs, 2% gets sold on Seed Sale, while 20% of the supply is used as pre-ICO funding for advertisement and promotions.
Who Are the Founders of Melodity?
Melodity is developed with a strong focus on the security and usability of the protocol by Co-founder & CEO Rolen Guzman, Co-founder & CTO Emanuele (ebalo) Balsamo, Co-founder & CMO Wilian Guzman. The whole team's main objective was and still is helping all musicians freely earn as much as possible from their musical creations.