It goes without saying, keeping track of all the latest ICO’s can be a burden. With no signs of slowing down, it seems like there is a blockchain application for every situation. The latest target, is the music industry.
Muse is a music-streaming blockchain application that aims to remove the middle man and reward artists. Muse maintains a decentralized database of copyright information solving a problem they call the “Who to pay?” issue that is currently plaguing the music world.
Artists are paid in Muse’s coin MUSE, which trades on major exchanges like Bittrex. Muse also incorporates an internal currency called Muse Dollar which is convertible for 1 USD worth of MUSE. MUSE can reside in two forms “MUSE” and “MUSE Vesting”. Think of regular MUSE as having money in your checking account. While MUSE Vesting is like having your money in a locked-up savings account. If you wish to gain more influence points on Muse network your coins must be locked up in MUSE Vesting. Influence points are important for altering the blockchain.
Confused yet? ..All things considered, I have read through Muse’s FAQ and still struggle to see the value Muse provides. I’ve always believed that for a disruptive technology to take off, it needs to be 10x better than current technology. Sadly, Muse does not fit the glove.
From what I understand the only thing that give’s MUSE tokens any value, is the ability to influence the contract’s database. But unless you are an artist trying to generate revenue from streaming, it’s uses are very limited. The streaming platform, Peertracks, has yet to launch, so it is too early to give a final verdict.
At the time of writing, it has a market cap of 10.5 Million USD. Up 500% from a month ago. A wise man once said, "The best way to get the right answer on the Internet is not to ask a question, it's to post the wrong answer." I don't claim to be an expert on the under workings of the music industry, if you think MUSE solves a real problem and can be sustainably monetized, please let us know.
Cheers,
Gayboy
