On Friday, 18th March, Yalu Lin – Co-Founder of Melos Studio – joined a live AMA with the SafePal community. He talked about the Melos Studio, upcoming plans, partnerships, and much more. Below is the recap of the fantastic AMA.
🎤FIRST SEGMENT: Fireside Chat🎤
Y: Yalu Lin
I: Welcome @everyone to the AMA. 🎉 🎉 Today, we’ve been joined by Yalu Lin from the Melos Studio team. 🥳 We’re very pleased to have Mr. Lin to be our guest today and excited to know more about Melos Studio. 👏
Welcome here, Mr. Lin.
Y: hi hi hi ~
It is exciting
I: Let us now proceed to part 1️⃣ : We will have some questions about the Melos Studio.
So first, can you tell us about yourself and your team? And share your experience in crypto so that everyone in here gets to know you better.
Y: Of course.
Well. My crypto journey began in 2017. It was the yr that i first purchased crypto. I got so interested in blockchain technology and just couldn’t stop wondering how much changes it can bring to the world. Then I joined a project called Machi X, in 2019. It started as a music copyright marketplace.
There were music copyright tokens that fans, patrons, and collectors can buy and sell. We listed 59 songs from Golden Melody Award-winning artists. One of the songs was listed on Binance DEX. Machi X is also a project listed in https://ethereum.org/en/community/.
It later pivoted into a DAO focusing on NFT curation, helping bring the traditional artists to NFT.
I: That’s cool
Y: Ya. I learned A LOT about blockchain applications and the music business then. And then I got to talk to Jim ( another co-founder of Melos ).
Jim is one of the core experts of Java machines in Aplix which is a Japanese listed company and key partner of SUN. He devoted himself to the innovation of the IT area for over 20 years.
He also has been a music lover since childhood. He set up a music studio and helps people to mix audio, train bands, and voice recording. We started our conversation about what music creation can be like in web3. So… Melos Studio!! ✨✨
We were talking about how music creation can be like on web3. hence… Melos Studio. Very soon after, we have Vera and Leo joining.
Vera is experienced in marketing and is a part-time singer. Leo is also a very experienced developer. We all share the same passion for music on web3.
We built Melos to allow these musical pieces to be seen in public and give a chance to get others to collaborate in Github style through blockchain.
I: There are already several existing NFTs platforms, maybe not especially focused on Music. How is Melos Studio different? Can you briefly describe what MELOS STUDIO is❓
Melos Studio or Melos is the destination for creating, discovering, and collecting original music on Web3.
Melos is a new and unique create-to-earn music ecosystem on the blockchain, The core vision of Melos is to create an ecosystem in which all fans of music can participate in the creation process and be rewarded for their efforts.
From the casual music fan to the professional musician/producer, the Melos platform offers tools and features to take not only music enjoyment but NFTs to the next level.
We use NFTs very differently, most NFT projects are using NFTs as a storage medium, to store graphics or music, At Melos, we are using NFTs as proof of creation or co-creation. This gives our NFTs a dynamic collaborative function as MusicBlocks within our DNA Tree system.
This is an example of how the NFT creation process works and how stage of the NFT chain is rewarded for their efforts and contribution:
- Pianist Aditi mints a piano tune as G0 NFT
- Bob sees the NFT and likes the tune, and adds his guitar riff to it and mints piano+guitar G1 NFT
- Camilia comes across the G1 piano/guitar NFT and adds his vocal chorus to it to mint piano/guitar/vocal G2 NFT…
In this way, all co-creators are profit sharing. and you can also see there is a new interaction between fans and creators, as the fan can also be the creator. People also see this as the GitHub style for the music creation process, this results, eventually, a democratic and transparent ecosystem between music artists and their fans.
I: Great🤩 ! Have you guys gotten any well-known big musician/producer backing you?
Y: yes yes yes 🎤
Trey Songz, David Bowie Foundation, Methodman from Wu-tang also the most iconic rock band – Queen
Also, something bing we are announcing – we are going to release music NFTs for Queen – the world-renowned rock band formed in London in 1970s, also the Grammy Lifetime Achievement Award winner who sang the most popular songs in the world – “We Will Rock You” and “We Are the Champions”🎸
Their music NFTs will be dropped on the 25 March 2022 on the Binance NFT market, don’t miss out!
Also, as Melos care a lot about indie and emerging artists, we have 800+ artist to be onboarded, over 45+ countries in the world.
Stay tuned and follow Melos.Studio.
I: That’s awesome!! 🎤
How do you consider non-musicians in Melos Studio? Do you have any workshops and musicians that can teach to non-musicians that want to explore more on your platform? 🤔
Y: nod nod
In Melos Workshop… we have a tool AI assistant that we called Metis, she can help you complete a song even if you insert only a few music notes.
It looks like this.
This way, even music newbies can create music.
I’ve learned so much from playing with this myself.
I: Interesting! I think I’m going to have a try later. 😆
What’s the tokenomics structure and token utility?
Y: Token is going to be both DAO and utility token.
For utility, advanced functions on our are going to require consuming of our Melos Token, including new styles on Melos workshop, VirtualBand in the future releases.
And for DAO community voting, there are 5 different membership levels and 3 different topics that we set for max and min voting weight and voting numbers.
I: Can you talk about your project development roadmap? What’s achieved to date and the 2022 targets? Any hot updates we should be looking for?
Y: 🥁 🥁 🥁 🥁
We launched Metis AI music composer (workshop) and our marketplace in late November last year.
And turns out that
1. indie artists want to use our platform to launch their music NFTs
2. music newbies want to play with more music
You can see from our marketplace, there is music from everywhere.
This year, we are going to launch Sonus NFT, artists’ pages, virtual band, and NFT stake & mine on Melos Studio. Music lovers are going to be able to enjoy creating, minting, and rewarding on web3.
I: Alright, we can’t wait to see them 🎹
Can you list the key features of Melos Studio?
1) Metis AI Music Workshop – Music NFT Creation
2) Decentralized Music NFT Marketplace
3) Sonus NFT – Convert pfp NFTs to Music NFTs
4) Virtual Band – Co-create with favorite artists
5) Melos Launch – Drop your music to Melos Studio
6) Music Auction – Regular English & Dutch Auction for Music NFT
7) DNA Tree- A diagram to illustrate the DNA structure, so when a final music piece is sold all compositors will share its value thro the NFT chain. It provides a new solution to fulfill today’s lost value extraction by community mixing the original music pieces.
I: Awesome! And the last question before we move to part 2.
Can you briefly talk about your backers and how they will support Melos Studio’s growth?
Y: We are fortunate to have Binance Labs, Dapper Labs, Innovation, NGC ventures, Multichain Capital and CryptoPhd as our strong supporters.
They’ve all been SO helpful by providing us with support & guides to strategy, marketing, necessary technologies, consultation, and incubation services. ( and that’s how we get to SafePal here )
Thanks to these strategic investors, Melos Studio can draw support from key industry leaders to help it with the Public Sale and call for communities and alliances to support its ecosystem activities. Besides, these strategic investors will also be actively helping all artists to retain and celebrate their inspiration, and to freely create, share and profit from this musical utopia.
I: Now we will move onto Section 2: The live AMA session where everyone is allowed to ask any related questions and earn rewards. #SafePal x Melos Studio.
🎤SECOND SEGMENT: Community AMA🎤
Q: So what do I have to do to start posting my music on Melos studio and what are Music NFTs can please explain a little bit more about it? I am very interested in this project!!
A: Well, there is a form on our website.
Go there and submit to apply for the verified artist, then you will be able to upload your own work, or anybody who registers will be able to play with Metis AI in workshop and mint music.
Q: A 🗝️ Factor Behind $MELOS seems to be providing true ownership of one’s own music 🎵. Does $MELOS also allow the fans to profit off buying and reselling Music NFTs of their Fav ❤️ Artists & will the Creator receive royalties off resells❓
A: Kinda… we call it profit-share instead of royalties…
See, when people buy and remix your music over blockchain, all co-creators addresses are there.. so we can trace back and share profit when a later generation of music NFT is sold.
Q: What killer features has Melos Studio that is ahead of the competition?
A: I don’t see many other projects focused in music creations…. but that’s our first feature released.
Q: About your NFTs, can you explain further about the utilities of these NFTs within your platform? Are they meant to be held as simple collectibles or will they have additional benefits? Also, will you have your own marketplace to sell and buy your NFTs?
A: Well… some of them can be used for staking and mining
Some are artworks that you purchase to support your artists, some we play games with.
When and where do you plan to list your tokens after the community sale in the next few days? Which CEX and DEX do you plan to use?
A: We just listed on Kucoin 24 hrs ago….
🎤Third SEGMENT: Quiz🎤
I: And coming is the final part: the quiz.
Melos Studio has prepared a quiz for the community here. 📜
The community has 10 minutes to answer the quiz. The first 10 participants getting the full score of the quiz will be winners for this section. 🚀
On the count of three, get yourself ready for the quiz. ✈️
@Yalu Lin | Melos StudioIt was amazing to have you here today!
Y: I had fun, thank you for having me here.
I: Thank you so much for being here and answering the question from the community 🥰
Looking forward to having further cooperation with Melos!! 😺
Y: Certainly. Thank you again.
I: Thank you everyone for joining us today and we sure had a blast. 🥳
Find out more about Melos Studio ⛓️