Wolf of Vladyland: Hello everybody, thank you for joining us today for another DeFi Raccoons AMA session! Today we’ll be talking with @Louiediamond from mp3.finance and mp4.social!
What MP3 does for the music industry, MP4 does for the film/content industry; why should independent film creators have to be hidden in the shadows of the Hollywood monopoly? It’s time for filmmakers and influencers to have access to a worldwide network of investors to support their creative endeavors.
Now talented film and content creators can pitch their ideas to a worldwide audience of investors to make their creative dreams come to life — and influencers can tokenize their products, services, and subscriptions to interact with the web3 blockchain economy.
Wolf Of Vladyland: @Louiediamond, are you with us?
Lou Gainz: I’m Here!
Wolf of Vladyland: Welcome aboard
I hope you’ve made yourself comfortable and will enjoy today’s session, so let’s get started. Welcome @Louiediamond, please tell Raccoons a bit about yourself!
Lou Gainz: Thanks for introducing me to the stage. I’m Lou and I’m the CMO of Blockchain Music Entertainment, my job as Chief Marketing Officer involves a lot of artist outreach and onboarding for our MP3 and MP4 platforms.
Wolf of Vladyland: So just to make it clear, there are 2 platforms, mp3 and mp4?
Lou Gainz: yes that’s correct. The entire ecosystem is being built by Blockchain Music Entertainment (BME Group), and is targeting multiple sectors of the entertainment industry; here is a brief rundown of the tokens within the ecosystem:
MP3 is the utility & value token for the Music Industry DAPP; it is what will be bonded and unbonded to the artist oracles.
BMEG is the governance token for the BMEG DAO and the entire ecosystem; a percentage of the BMEG supply will be distributed to MP3 holders.
MP4 will be the utility token for the Film/Content Industry DAPP; this will be more like a social media platform where influencers, film makers, and content creators can tokenize themselves and their media to interact with web3.
Wolf of Vladyland: Oh, I see now, clear
Ok, once again welcome, glad to have you with us today! We like to start off with an elevator-pitch — for the people that haven’t yet heard of you — tell us what it is and what are you trying to build?
Lou Gainz: Yes, so we are building a suite of DAPPS to decentralize the entertainment industry based on a bonding curve curation market; we are the first to target the massive 50-billion-dollar music industry for example alone and will allow fans and other artist to make direct investments in the future and success of the artist we on board onto our platform. Imagine a place where the average person can invest in an artist as easily as they could their favorite crypto project and the two combined into an easy to navigate social media platform and UI and that’s what we are doing here at BME.
Wolf of Vladyland: Sounds interesting
Can you tell us about the origins of the idea for mp3.finance? What inspired you?
Lou Gainz: Absolutely, we are a team of developers that have a stake in this game. The core team is all musicians (and a board-certified psychologist). With the pandemic so many of our friends livelihoods became nonexistent. The industry has dominated creative output and control for too long and for this reason we wanted to create a system that would lift up and support artistic endeavors utilizing the power of the block chain in a completely new way. Our goal is to empower those who create, we always say by artists for artists and that can’t be further from the truth.
Wolf of Vladyland: Lou is very detailed
Interesting mix here. How many of you are currently engaged in the project?
Lou Gainz: Haha, yes! Want to make sure you get the best answers to your very excellent questions.
The Core team is 5 but we also work with one of the top marketing firms in the crypto space (Quotidian Marketing) and a large developing team with vast experience in the space as well as special advisors on the project.
Wolf of Vladyland: To start from the beginning, what exactly is BME?
Lou Gainz: BME is Blockchain Music Entertainment. We are a group of worldwide developers that are the umbrella company to mp3 and mp4, with the blockchain tools and tech we have now we can put financial and worldwide marketing power into the hands of artists, while keeping the rights to their creative content out of the hands of the gatekeepers of the industry.
Wolf of Vladyland: I see. And what audience are you targeting to use your platform? Can anyone tokenize themselves? Or only for influencers and artists?
Lou Gainz: We are targeting anyone who wants to use crypto and decentralized finance to gain independence over the traditional systems that control the music and entertainment industry. Give power back to the artists. Anyone can “tokenize” or promote themselves on our platform and gain access to the tools we provide on the blockchain.
Wolf of Vladyland: Amazing, I will tokenize myself You have a concept of Initial Artist Offering. Can you explain this?
Lou Gainz: An initial artist offering is like an ICO, but an artist will deploy a bonding curve and allow their fans to invest in their curve, thereby becoming “tokenized.” All artists use our native tokens for this but artists with a larger fanbase and their bonding curves might be more profitable. Luckily, as more mp3 are locked up for big artists, small artists benefit as well. Everybody wins.
Wolf of Vladyland: Roadmap shows partnerships with musician/filmmaker and influencers. Where are you with this at the moment?
Lou Gainz: Yes! So, we have had discussions with some of the biggest names in the business. In fact, we just announced a partnership with the first virtual AI rapper named FNmeka that has over 9.2 million followers on tiktok, there has been a lot of buzz around what we are building. As head of artist outreach, I am actively engaged with fielding calls with musicians and film makers in the industry. For another example we’ve had a very talented artist named Mr.Babies who has over 400k followers on instagram on board as who created two pieces for mp3 and mp4 which we actually successfully sold the first of and just listed the MP3 NFT yesterday which you can find a link to on our instagram page @bme_mp3mp4 as well as I’ll paste the link to here: https://rarible.com/token/0xca909c8b3bdcbcb68312d62970960a971578a131:1:0x6e3fa18ad1b791e21c796f3ca9ca7f97966bad8e
Wolf of Vladyland: I missed this when preparing, thanks for sharing
Now about technology… When can we expect a bridge to BSC?
Lou Gainz: the technology to bridge to BSC already exist at this point and we are looking into a number of options for layer 2 integration, we obviously would love to offer the cheapest and most accessible options possible to our community.
Wolf of Vladyland: So, you are exploring even more options?
Lou Gainz: yes, there will be more news about this upcoming soon but assuredly we will always act in the best interest of our community.
Wolf of Vladyland: Very good.
You mention before some passive income for token holders. Do you have more details about this?
Lou Gainz: Yes, so one of the mechanisms that’s built into the suite of dapps we are launching is a 6% tx fee to cover transactions. This is actually recycled back into a pool that is distributed to all holders of our native tokens. We are also launching some exciting defi applications that will be for liquidity mining and staking, overall, we want to do whatever we can to provide multiple streams of revenue to our artist and investors.
Wolf of Vladyland: As I saw, you will have NFTs as well. Can you provide more details about it?
Lou Gainz: Yes, so as we all know artist may not be the most technically adept of people. We want them to do what they do best and create, within our ecosystem all artist will have the option to send us creative ideas and content we can translate into NFTs and curate weekly on platforms like Rarible, Opeansea and Foundation. This gives them a gateway into the NFT world without the extra financial burden of fees associated with minting or technical expertise. We will then share the profit directly with any artist that provides content and recycle a percentage back into token buy backs for the community. It’s a win-win all around.
Wolf of Vladyland: Well, that would be it from me, are you ready for community questions?
Lou Gainz: absolutely, I want to thank you so much and the entire DefiRaccoons community for hosting us here today.
Wolf of Vladyland: You will pick 3 to answer, and then choose 1 out of those 3 to reward the lucky user! Ok, unmuting the group now
And we are muted again. Your turn, @louiediamond
Lou Gainz: great, give us a minute to review
Salik ( I am a longtime investor ) : Smart contracts are vulnerable to bugs, and even recently three big new DeFi projects were victims of this, costing users funds. How efficient and secured is your smart contract, and did you ever audit it via any external party?
Yoda: We take the integrity of our smart contracts very seriously, all of our contracts are audited by solidity.finance
Canjoin: It’s no secret that DeFi is full of SCAM projects and useless tokens. My question is: How do you guys make sure that you are not serving a SCAM project? Do you have any review system for this? Tell us a little bit about this.
DoctorZem: Hi, thanks for the question(s) haha
Our liquidity is locked: https://www.safu.investments/sale/1
Our contracts are audited: https://solidity.finance/audits/MP3/
Our code is open-sourced: https://github.com/blockchainmusicentertainment
The team purchased tokens in the pre-sale like everyone else. It was a fair launch with no specific team-allocated tokens.
As it was stated, MP3 (and MP4) cannot be separated out of our ecosystem. MP3 is used to deploy bonding curves. MP3 is also used to allow users and fans to bond to curves. Bonding curves are a new and exciting technology. It is the cornerstone of our MP3 Dapp, the same as MP4 is to the MP4 Dapp. They are not placeholder tokens, they are an essential part and component to the ecosystem.
“I continue to be bullish on the various permutations of DAICOs too, as well as many of the bonding curve contraptions. Also prediction markets, including micro-scale ones.” — Vitalik Buterin
Bonteng: Could you tell me a little bit about Your roadmap going forward, how do you plan onboarding users and gaining more adoption for Your project?
Lou Gainz: Yes, so as a marketing professional I am personally in charge of artist outreach and engagement. I’ve already spoken with lots of big artist including people like Citizen Cope, MC Hammer, Shaggy, Dane Cook, and so many others including some of the top movie producers in the industry. Our project really resonates with so many on a creative level, because as artists we have all shared the same struggles and challenges from the industry. We are confident once we launch our applications later this year there will be a giant influx of new artist who will be ready to join us in unlocking the financial and creative power of the blockchain.
Wolf of vladyland: And who will be the lucky winner, guys?
DoctorZem: Anyone who buys MP3 I suppose…
Yoda: The winner is…
Lou Gainz: @daucatmoi05
Yoda: Thank you everyone