BTC/USD: $50,963.07
ETH/USD: $1,578.07
Total Music Market Capitalization: $96,899,489.98

Frequently Asked Questions (FAQ)


Artist Tokens

Artist Tokens are essentially the same thing as Bitcoin, Ethereum, or Ripple. Except, this is your own token that you control.

More specifically, Artist Tokens are cryptocurrency which are represented by tokens created by and issued from an Artist, Band, DJ, Singer-Songwriter.

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.

Each token will have it's own unique features, which may include:
  • Growing your audience and fanbase on your social media platforms
  • Allowing your fans to invest in your future royalties
  • Offering discounts for your merch, concert tickets, and anything else you can imagine
  • Selling unique items within an Artist Market Place, such as Open Sea, or Super Rare. An example of this is the $TAPE token by DJ RAC which represents a limited edition cassette of the album, BOY.

Yes. Think of cryptocurrency and tokens as the stock market. The more people that buy the token, the more the value will go up. The law of supply and demand determine the market price.

In general, the buyers and sellers determine the value of the token. It’s worth what someone is willing to pay for it. These tokens can be traded for fiat currency, such as US Dollars. In most cases, these tokens trade on an exchange, like Uniswap, Coinbase, or Binance.

After we create your unique ERC20 token, we will issue them to your Ethereum based wallet, such as MyEtherWallet or Meta Mask.
Ethereum is a cryptocurrency and blockchain, which is widely viewed as an "operating system" or platform that you can build other applications on top of. An ERC20 token is the most popular protocol that allows for tokens to be created on the Ethereum blockchain.
MyEtherWallet is a cryptocurrency wallet specifically for tokens on the Ethereum blockchain. It is a free service that creates a unique wallet on the Ethereum blockchain.

Meta Mask is a browser based cryptocurrency wallet specifically for Ethereum tokens. It is an extension that you can easily install in the Brave browser, or Chrome. The wallet address you will receive is a public address that is okay to share. There are not any security risks with sharing your address. It's similar to your email address. Always keep in mind, we will NEVER ask you for your private keys or mnemonic phrase. Do not share this info with anyone.

Initially, the way to acquire Artist Tokens are to earn them. This can be done by helping the artist promote on social media, referrals, or other ways.

The other way will be to buy them on an exchange, such as Uniswap, Coinbase, or Binance.

Music Tokens

Music Tokens are cryptocurrencies issued by a company, versus Artist Tokens which are issued from an individual Artist. 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.
Music Tokens can be used or many different things, such as:
  • Investing in a company that you think will appreciate in value over time
  • Investing in artist royalties, on platforms such as Vezt.
  • Paying for things in a Marketplace, suh as studio time, in the case with AudioCoin and Miloco Recording Studios.
Yes. These tokens can be traded for fiat currency, such as US Dollars. In most cases, these tokens trade on an exchange, like Uniswap, Coinbase, or Binance.
Based on the definition from the SEC (U.S. Securities and Exchange Commission), 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.
The MusicToken (MX) is the token associated with MyMusicTokens. MX will provide multiple functions, all which will be announced in the near future!

Here are more details:

Token Metrics

The ticker is simply an abbreviation of the full name. For example, the ticker for Bitcoin is BTC, and the ticker for Ethereum is ETH.

The total supply is the number of tokens that exist.

The circulating supply is how many tokens are available to the public, and trading on exchanges.

For example, a token can have 1,000,000 in total supply, but only 500,000 have been mined, or released to the public.

The decimals are how much the token can be divided. For example, Bitcoin has up to 8 decimals, so it’s possible to own 0.00000001 BTC.

Payments

More information will be announced on this soon. In the meantime, you can research which markets are trading these tokens on Coin Gecko.
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!
It will cost you $100 for us to create, and issue your ERC20 token. We also retain 0.1% of the token supply. For example, if you issue 1,000,000 tokens, we retain 1,000 tokens. You will then receive 999,000 tokens.

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 different, 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.