Question: I keep hearing “Tokenize” artists — What does “Tokenize” mean?
Answer: “Tokenizing” is a term used to describe the process of an artist creating a Bonding Curve and allowing their fans to stake in them directly with the network ecosystem’s tokens.
Question: What are the BME network ecosystem tokens? Why are there two?
Answer: Long story short — Artists know what artists want. The BME ecosystem’s utility tokens are $MP3 for Musical Artists & Producers and $MP4 for Visual Artists, Content Creators, Filmmakers, & Influencers. BME is developing a suite of software that caters to each type of artist. From a marketing and technological standpoint, these are specialized and highly differentiated demographics. Our aim is to offer specific DAPP’s, technological use-case, and marketing outreach for each — all under the BME umbrella.
Question: So does the Music and Visual Art go on the blockchain? Is this like Spotify?
Answer: No, the artist is the one tokenized. BME is not putting music or visual art on the blockchain, nor securing digital rights (i.e., authenticity), or monetizing audio. There are a few minor exceptions to this, namely NFT’s and artist verification which will be a part of our DAPP’s.
Question: Is there just one Bonding Curve each for MP3 and MP4?
Answer: No, each artist will a have Bonding Curve of their own. Your Curve is unique to you and your fans.
Question: Will each artist have their own tokens then?
Answer: No, $MP3 and $MP4 are the only tokens for the ecosystem. They are inseparable components of their respective DAPP’s. Only the $MP3 token will work in the MP3 DAPP and only the $MP4 token will work in the MP4 DAPP. These are the ecosystem tokens and artists will not have their own ERC20 or otherwise.
Question: What about NFTs? Are MP3 and MP4 NFT coins?
Answer: It’s not the primary focus. However, our Rarible page is https://rarible.com/bmegroup
As our ecosystem grows and artists onboard, BME will continue to help get them in the NFT-game. Our partner, Mr.Babies (http://www.instagram.com/mr.babies) has already debuted his NFTs. BME works with artists to create NFTs that can be sold, with proceeds going to the artist themselves (majority), BME ecosystem, and to $MP3 and $MP4 token holders in the form of token buybacks.
Unlike some other crypto coins, BME will never produce an NFT for an artist that does not work directly with us. The primary focus is tokenizing artists with Bonding Curves.
Question: I keep hearing about Bonding Curves. What are Bonding Curves?
Answer: This can be a bit complicated, but let’s boil it down. A Bonding Curve contract is a new and exciting technology where users have tokens (e.g., $MP3 & $MP4) and lock-up their funds in an artist’s contract. In exchange for doing so, they receive points that can be thought of as ‘stock’ or a ‘stake’ in the artist. This process of staking is called “Bonding” and unstaking is called “Unbonding.”
It’s good to be early. Artists who create Bonding Curves profit the most. Fans that bond early profit the most. As more $MP3 is Bonded to the Curve, the Pool balance grows. As $MP3 is Unbonded, the Pool balance shrinks.
Question: How do the Tokenomics work? How is this profitable?
Answer: Let’s cover the basics. There are 27 million $MP3 and 270 million $MP4 in existence, respectively. It is not possible to mint or create more. At BME, we have created a win-win situation for artists, fans, and investors.
$MP3 and $MP4 offer profitable feedback loops. The Bonding process uses and reduces the available supply that can be sold at any given time.
**Supply/Demand = Less selling (locked tokens) + More buying (needed to bond) of scarce asset ($MP3/$MP4) = price appreciation with increased real-world usage**
BME also has planned an ecosystem governance token named BMEG (for BME-Governance) that can be earned by locking up $MP3 and $MP4 — for additional rewards for token holders.
Question: Can I have a practical example of how this would work?
Example One: a famous YouTube Influencer uses the MP4 DAPP and creates a Bonding Curve and bonds their $MP4 to their own curve. Their fans and subs Bond to their Curve, as well. This process locks up $MP4. YouTuber shills $MP4 for two basic reasons: one — people buy $MP4 and price increases. Two — more people Bond $MP4 to their Curve, allowing them to withdraw more $MP4 than they put in initially.
Note: There are additional benefits. As more Influencers create Bonding Curves, more $MP4 are locked-up in Curves. YouTube Influencer A and YouTube Influencer B both benefit from Visual Artist A, B, C, D and Filmmaker A, B, C, D creating Bonding Curves, as more $MP4 are Bonded (i.e., locked up).
Example Two: a famous song-crafter/musician creates an $MP3 Bonding Curve for themselves, having their millions of fans Bond to their Curve with the same token that is used by the street musician asking for donations on warm New Orleans evening. Both musicians are using the same MP3 DAPP to create bonding curves and receiving their fans’ and supporters’ $MP3 into their respective curves. It’s not a competition between the two. More ecosystem usage has a net effect of benefiting everyone. Like we said, win-win for all.
Question: Are these social media coins?
Answer: Yes and No. Our BME ecosystem encompasses a broad array of social media sectors. BME is building the tools to allow a direct social and financial relationship on the blockchain between artists and their fans. Think of this as a digital guitar box donation case, except of infinite size, no middlemen, and with a worldwide reach. Our aim is to change the world — one Bonding Curve at a time.
Question: What can you tell us about BME?
Answer: BME group consists of artists and developers all over the world. We are primarily based out of the United States and United Kingdom. BME’s core team consists of artists and musicians, some of which have experience with software engineering and graphic design. That’s why we have our code open-sourced, our contracts audited, and our Uniswap liquidity locked.
Question: Are there any Venture Capitalists (VC’s) that are funding this?
Answer: At BME, we are independent. We are for artists, by artists.
Question: Where can I buy $MP3 and $MP4?
Answer: On Uniswap. Please double-check the correct contract addresses.
Question: Where can I find out more information?
Also, check our Telegram chats at:
MP3 Telegram: https://t.me/mp3finance
MP4 Telegram: https://t.me/mp4social