The whole goal of MusicLife is to decentralize the music industry, which is currently dominated by big corporations and restricted by copyright restrictions. Aim of MusicLife is to give more profits to artists and help them to protect their music against piracy.
MusicLife’s economic model:
MusicLife like Spotify is going to offer free and paid options. Songs will be free for the first 50.000 plays, after that AI system will calculate the price for each play via several factors like: play time, account popularity, the number of listeners and geo location of the listeners. But the more plays the song have, the higher MITC value it will have.
MusicLife will offer to buy more than playback privileges to the songs. Users of ML will be able to buy the song and use it in their videos etc. or they will be able to invest into the song via MSCT, which will earn them dividends in MITC when other users buy in.
We should see first-party website and mobile app before end of this year. MusicLife has currently over 606017 MITC holders, which is currently represented as more than 600 thousand users.