BTC/USD: $9,798.85
ETH/USD: $203.68
Total Music Market Capitalization: $20,680,743.36

Frequently Asked Questions (FAQ)


Common

Music tokens are cryptocurrency. Broading speaking, cryptocurrency are digital assets which can either be coins or tokens. Tokens are defined as only having a utility or purpose used within a project's ecosystem. Coins, are designed to be currencies.
There are many reasons to acquire music tokens.
  • To be used in a music marketplace. With the number of decentralized music projects growing, a comprehensive list can be seen in our Market Place.
  • Another reason might be for an investment. You can buy at a low price and sell when the price goes up.
  • Based on the definition from the SEC (U.S. Securities and Exchange Comission), Bitcoin and Ethereum are not securities, however, most tokens are considered securities. This is because most people who buy the tokens expect to make a profit when the price goes up in value.
    Each token will have it's own unique features, which may include investing in Artist Royalties, using within a Content Marketplace, or buying and selling for investment purposes.
    The musicEX token (MX) is the token associated with My Music Tokens, musicEX, and Music Token Stat. MX will provide multiple functions, all which will be annouced in the near future!

    Payments

    More information will be annouced on this soon.
    This feature will be announced soon. However, it will be a very standard, and familiar process, whereas you type in someone's crypto address (or email), or scan in from a QR code, and then simply send the tokens.
    This process requires you to give the sender your crypto address or email address. The sender then simply sends the crypto to you!

    Staking + Masternodes

    When someone is staking their tokens, they are supporting the network, usually by verifying transactions, and in return, they are rewarded with more tokens. If the person staking their tokens is doing something bad on the network, they will lose the tokens they are staking.
    Staking involves holding tokens in a wallet that supports staking. It's as easy as buying the tokens, and transferring to a wallet. Assuming the price of the token does not change, staking is profitable since you earn additional tokens for each transaction you verify on the network. Since each token is differnet, you will need to individually research and calculate your potential profits.

    A node is a device connecting to a blockchain network. Nodes can have many functions, and do not have to necessarily store a copy of the tokens ledger information.

    A masternode is a full node that supports the network by hosting an entire copy of the coin's ledger in real time. For this service, the node operator will receive tokens.

    My Account & My Orders

    Once logged in, click on your Name in the top right of the website, and then click on Account Settings. On this page, you can update your Avatar image, First and Last name, as well as your Password. At this time, you cannot change your User name.
    This feature is available on your Account Settings page. Please keep in mind, the image size must be less than 250kb, an image file (such as PNG or JPG), and a unique file name.
    At this time, you are not able to change your User Name.