Blockchain-based music ecosystem Musiconomi has revealed multi-asset digital wallet Jaxx as its official wallet partner. Jaxx will integrate Musiconomi’s Ethereum-based token into its platform after the pre-sale for Musicionomi (MCI) tokens and public crowdsale, which are due to commence on the 29th of August, 2017 and the 31st of August, 2017 respectively. The integration will let supporters send and receive MCI tokens and manage their own keys via Jaxx’s app.
Co-Founder and CTO of Musiconomi, Dan Phifer said: “Musiconomi is delighted to announce the pre-eminent Ethereum wallet as its official partner. We are excited to offer Jaxx’s intuitive, secure, and compelling user experience across multiple platforms to our supporters. Jaxx has a tremendous network of partnerships and we see this as an opportunity to engage with them and add value in a way that will also benefit users of the Musiconomi platform,”
Anthony Di Iorio, Jaxx founder and CEO, remarked: “At Jaxx, we love helping groups who strive to bring innovation to industries of all kinds. Jaxx is excited to be working with the Musiconomi team and looks forward to participating in their journey to solve problems related to the many areas of friction in the music industry.”
Along with token management, Jaxx plans to explore further synergies with Musiconomi in the areas of live and digitally-recorded music. Jaxx will also offer Musiconomi ongoing support in the critical areas of user identity verification and content rights management.
Besides enabling musicians to release their work, create simplified licenses, and get paid directly and immediately for each play, Musiconomi incentivizes users to share tracks socially by rewarding them with MCI tokens. Each artist is in control of determining the reward for their albums and tracks, letting them choose between higher revenue or more promotion at the granularity of an individual track.
Entrepreneurial music enthusiasts, such as marketers and audio technicians, are also able to use the platform to provide, and be compensated for, their expertise. MCI token holders will gain access to the Musiconomi platform’s features, including playlists, radio streaming, virtual merchandise and ticket storefronts.
Musiconomi is the second start-up to pass through Cofound.it’s crowdsale incubation program and will leverage the Cofound.it Priority Pass mechanism as a part of the sale. Musiconomi’s pre-sale starts on the 29th of August at 5:00pm CEST. The public crowdsale will begin on the 31st of August at 5:00pm CEST and has a minimum threshold of $3 million USD and a maximum cap of $6 million USD. Users can participate using Ethereum
A total of 25,000,000 MCI tokens will be distributed in the crowdsale. 70% of the funds raised will be going to development, 21% to marketing and PR, and 9% to administrative, legal, and overhead over the first 24 months.