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Music Infinity explores new forms of music under Web3.0
Summarized by AI
Original author: Seven
Music is often called the easiest and most common way to relax the mind. With the outbreak of the epidemic, the market value of cloud music entertainment models such as online concerts will be close to 31 billion US dollars in 2024. In addition, developers have been working on how to make the act of listening to music truly play its economic value, and stars and fans create more interesting music together.
Imagine: a group of fans support the star through NFT, from a unilateral contribution to a joint role The role of sharing and co-creation, and relying on the music itself has a strong sense of immersion and community energy. Perhaps Listen to Earn will become a brand new way to guide countless music fans into a new encrypted market and become the next market explosion.
Project Introduction:
Music Infinity is an NFT music platform under Element.Black, dedicated to creating a free, A prosperous and open Web3 NFT pan-entertainment copyright music sharing ecosystem.
Music Infinity's team mostly comes from the traditional entertainment industry and has rich music industry resources. The consultant team has a very strong lineup, including Sid Ganis, the former chairman of the American Academy of Motion Picture Arts and Sciences, and senior executives with Sony Pictures, Lucasfilm, Warner Brothers and other large film companies, "Guardians of the Galaxy" and "Suicide Squad" director James Gunn.
Gameplay:
Game Mode
1, Listen to Earn
Players open the Web3 NFT music experience through the Music Box to earn MIT. Music Box has the triple attributes of NFT music player, encrypted mining machine, and NFTs. Players can get MIT rewards by listening to the music of Music Square every day. The daily power is limited, and when the power is exhausted, the daily rewards have reached the maximum value.
2. Music Plaza
Copyright owners and creators can issue, publish, put on shelves and trade music NFT works in Music Plaza , music lovers and fans can search for music NFTs they are interested in, visit, listen to, buy, listen to, and participate in the ecology to earn income.
NFT assets
The main assets in the game are Music Box, Music NFT, and Music Box NFT fragments.
1. Music Box
Music Box is divided into N, R, SR, SSR, UR in terms of quality, different Quality mining performance is not the same. Players hold different Music Boxes and listen to music from Music Square to earn MIT. When a player has a Music Box, it means that the Listen to Earn process is started.
2. Music NFT
The official will regularly release Music NFT jointly with well-known stars. If the player holds it, and it is listened to by other players. Receive additional MIT income. If you own Music NFT and Music Box at the same time, players can speed up the return of Music Box and improve the performance of mining machines. Now the official has reached an in-depth cooperation with the well-known American singer Akon, and its music blind box NFT has been completed on Binance NFT market, OKX NFT market, and Element.black official website mint, and players can buy it in the secondary market.
3. Music Box NFT Fragments
High-quality Music Box When listening to music, it will produce Music Box fragments. After collecting a certain number of fragments, consume MIT and ELT to synthesize a new Music Box NFT. In other words, in daily listening to music, players may get additional rewards. Only when Music Boxes with SR, SSR, and UR levels can synthesize new Music Boxes, each Music Box only has 6 chances. Details are as follows:
Music Box Properties
Music Box includes four attributes of quality, grade, battery, and music style, adding product of interest. At the same time, players are also required to have a strategy to participate in the project. Different strategies mean different input-output and payback cycles.
1. Quality
The quality is divided into N, R, SR, SSR, UR, different quality corresponds to different batteries Energy, mining efficiency. The longer the battery, the longer the effective time to listen to music. The higher the mining efficiency, the higher the overall mining income. Cross-quality upgrades need to consume a certain amount of ELT and MIT.
The player can burn-in after obtaining the Music Box, and the burn-in experience value meets the conditions. The mining machine level can be upgraded by consuming MIT. The initial level of a single quality is level 0, and the maximum level is level 20. Different levels will also affect the payback period, the higher the level, the shorter the dynamic payback period.
3. Battery
Mining needs to consume the power value of the mining machine. When the power is 0, mining cannot continue. This means that there is no MIT output for listening to music at this time. The power value cannot be accumulated, and the platform will automatically restore the power at 24:00 every day.
4. Music style
The project party restored the burn-in situation in the real environment. When the box is turned off, burn-in is required. Every two levels, a music style will be unlocked. There are currently 10 music styles in total. After the 10 styles are unlocked, players will earn extra income by listening to songs of any style.
The style preference of each Music Box is random and can grow. The music style of the mining machine will also affect the final mining income. It means that from the perspective of music style, Music Box will have a variety of mining strategies to choose from. This design also increases the style diversity of Music Box and Music NFT, and also promotes fans' demand for specific Music Box transactions.
Music NFT Properties
Music NFT contains two attributes of music crown level and music style. Players use Music Box When listening, different Music NFTs will have different effects on the mining efficiency of the Music Box. At the same time, holders of Music NFT will also receive an MIT reward every time they are listened to.
Let’s take AKON Music NFT as an example:
Detailed explanation of music NFT crown level (internal test data):< br>
Internal test results show that Music NFT crown level affects the speed of Music Box revenue, but does not affect the total revenue of both parties. From the perspective of mining, the quality level of music NFT does not affect the total amount, but only affects the efficiency.
Music Style Details: Music Style and Music Box Music Style Settings One-to-one correspondence (for the test process, the result is calculated):
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Internal tests show that the music style of Music NFT has a greater impact on the mining income of Music Box.
Profit Strategy
Profit strategy one (best strategy):
Music Box+Music NFT combination, active income and passive income Enjoy together to realize 24-hour dynamic income.
Music NFT (passive): Players who hold Music NFT will passively receive MIT rewards.
Self-refresh: Players use the Music Box they already hold to play Music NFT songs, it will Get double rewards. Reward composition: Music Box itself is rewarded for mining, and secondly, after Music NFT songs are listened to, they will receive copyright MIT rewards. (However, during the test period, it was found that after repeated listening to a single song many times, the returns will appear diminishing. The editor regards it as a means of preventing cheating to a certain extent)
He swiping: When other players play Music NFT songs, Music NFT holders will also have MIT rewards. We can understand that Music NFT can bring unlimited passive income to players. Even if your Music Box has no battery, as long as Music NFT is listened to by other players, you can get MIT income. (No income cap was found during testing)
Example: AKON Music NFT has issued a total of 6,000 pieces this time, and players can listen to their own music through the Music Box Music NFT will receive mining machine income and Music NFT copyright income. If your own Music NFT is listened to by others, you will continue to receive copyright benefits.
Income formula: final income = Music Box income + Music NFT self-purchase income + Music NFT other-purchase income
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Music Box (Active):
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From the test results, it can be seen that the payback period of the N mining machine is relatively long. From the next day, the daily mining output can cover the single-level upgrade fee. After the official launch, the dynamic payback period depends on the price of MIT. When the price of MIT rises, the payback period will be shortened (gold standard).
It can be seen that when the N mining machine level is 20, it needs to consume a total of nearly 160,000 MIT , 200ELT. The cumulative dynamic payback time is reduced to 60 days. Because the higher the level, the higher the mining efficiency per unit time. (The data comes from the one-month product internal test that the editor participated in)
< img src="https://image.blockbeats.cn/upload/2022-05-22/34da720e4165f2204661c71e0bbad0ca629b01c2.png?x-oss-process=image/quality,q_50/format,webp">
If the player performs a cross-quality upgrade, he will upgrade from N to R mining machine. The dynamic payback period is shortened by nearly half. When the R mining machine level is 20, it needs to consume a total of nearly 960,000 MIT, and the dynamic payback period of 900ELT is also quickly shortened to 24 days.
Profit Strategy 2: Hold Music Box (mining income)
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The player holds a Music Box and formulates an upgrade strategy. Music Boxes of different qualities and levels correspond to different mining output and dynamic payback periods. For specific values, please refer to Profit Strategy 1.
Profit strategy three: Holding Music NFT (copyright income)
When other players play Music NFT songs, Music NFT holders will have copyright benefits , which is the MIT award. (No income cap was found during the test period)
AKON during the test phase Music NFT is the only Music NFT in Music Square. Players will receive MIT rewards when they hold AKON Music NFT and are played by Music Box holders. It can be understood that as long as you hold AKON Music NFT at this stage, you have a great possibility to get MIT rewards.
Economic Model
Music Infinity adopts a dual pass model, ecological Token (ELT), governance Token (MIT) . ELT is mainly used for product upgrades and is mainly used in the element.black ecosystem. MIT is mainly applicable to the Music Infinity music game ecosystem, and is highly integrated with the product form.
In order to resist the inflation mechanism, Music Infinity has designed many Token usage scenarios on the product, and these designs are conducive to MIT's deflation and the realization of a positive ecological cycle . In addition, according to the project party's commitment, 30% of the ecological profits from Music Infinity will be used for MIT's repurchase and destruction, and continue to give back to the community.
Currently, the ecological token (ELT) has been traded on OKX, Bybit and Bitget. MIT will launch the transaction after the product is officially launched. MIT has no initial casting, all of which come from the mining output of players listening to music.
Summary:
Fan perspective: Fans in the Web2 era tend to be more unilateral both economically and spiritually Thanks to the effort, the Music Infinity product incorporates the ideas of Web3, and fans can highly participate in the music feast through the Music Box. While listening to music, you can get economic benefits, and you can also create your own music.
Star angle: whether it is on Spotify or Apple Music, every time we listen to the song, we will bring For a certain amount of traffic, the platform also needs to pay singers. Because music creators usually sign an agreement with the record company, the profits harvested will not only go to the creator, but also be distributed to record companies, publishers, etc. The emergence of Music Infinity will also reduce the intermediate supply chain and make creators more profitable.
Product form: Music Infinity makes products full of diversity through the design of NFT features. Players need to calculate what suits them, so as to maximize music and economic benefits.
Every attempt in the music world is an experiment worth recording, perhaps changing the original way of music.
This article is from a contribution and does not represent the opinion of Rhythm BlockBeats
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