Musiconomi wants to reshape the way listeners and musicians engage rewarding artists directly and incentivize social sharing or fans. The Musiconomi (MCI) token will be designed to enable unique revenue sharing models, incl. playlists, streaming radio, virtual merchandise, ticket storefronts, and many other features will be available to future token holders who will be able to generate revenue through their activities. Musiconomi will use the Musicoin blockchain and currency for payments, as Musicoin is intended to be a stable and spendable currency supporting pay-per-play transactions.
Artists can individually adjust track by track how much they want to allocate for sharing rewards. Young and unkown artists could fuel social sharing by giving a higher rewards, while more established artists may choose to keep more of their revenue. Fans on the other hand can share their discoveries of new artists or cool tracks using their MCI tokens and get compensated for their efforts.
For more Info check Musiconomi’s Business Plan (draft version) and the Musiconomi blog.