MetaBoom: A Web3 music ecosystem that creates a positive value cycle through "Listen to Earn".

The music NFT market is growing rapidly. According to a report by Absolute Reports, the global music NFT market is expected to reach nearly $1.75 billion in 2022, with a compound annual growth rate of 27.92%, and is projected to reach nearly $7.65 billion by 2028.

The prospect of music NFT is bright, but the challenges it faces at present are also severe. The biggest problem is the lack of liquidity in music NFT. There are two main reasons for this problem:

1. Music NFTs are "too practical". As a type of NFT with a very clear utility, music NFTs cannot establish a foundation like PFP-type NFTs through the artistic value of images and the emotional value of the community, and expand the value space with narrative logic such as "trendy brands", "games", or "metaverse" to attract the pursuit of NFT players and become "blue chips". Because of the lack of gameplay that can open up "financial attributes" on "commodity attributes", music NFTs also lack the support of NFTfi products, making the liquidity of music NFTs even weaker.

2. The audience is relatively small. Music NFTs are more focused on the "fan economy", and only the corresponding fan groups of musicians are willing to spend money, making it difficult to absorb purchasing power outside of the core fan group.

And the reason why the above two points cause problems is because of a pre-existing issue, that is, music NFTs are issued in a scattered manner as individual NFT series. If there is a complete music NFT ecosystem that can combine the Token economy advantages of Web3 to reshape the economic model between creators and listeners, can we return the value lost by these two parties in the Web2 world?

This is exactly what MetaBoom is doing.

Ecological Composition

MetaBoom Music NFT ecosystem consists of FANSI Launchpad and Web3 music player.

FANSI Launchpad

FANSI Launchpad provides comprehensive distribution technology support for music creators, helping music creators around the world who have never touched Web3 to smoothly launch their music NFT projects. At the same time, FANSI will also use its own community resources to provide marketing plans adapted to the Web3 environment for music creators, which is not only "promotion", but also "consultation".

FANSI Launchpad

Currently, FANSI Launchpad is the leading music NFT launch platform in Asia, having collaborated with large and independent music artists from the United States, Taiwan, Hong Kong, Singapore, Malaysia, and Mongolia. FANSI Launchpad has successfully released commemorative music NFTs for famous musicians such as Zhang Yusheng and Song Yuetin, and has also successfully completed the release of NFTs related to the 13th anniversary of the largest music festival in Taiwan, "Dagang Kaichang". From music to NFTs and offline physical merchandise (music festival tickets, souvenirs), FANSI Launchpad has proven its strong capabilities.

FANSI plans to hold a series of online and offline events this year. Currently, completed/ongoing online events include:

- 10 mins of Salvation Open Edition Free Mint. This song is divided into 8 fragments, and at different time points within the 10-minute countdown, different fragments will be minted. The closer it is to the end of the countdown, the more complete the minted song fragments will be. This event has ended.

- Ring Stars Musician Incubation Program. The program is dedicated to helping music creators enter the Web3 world. FANSI will provide free incubation guidance and free distribution for music creators, and will release one musician's music NFT work every week. Users who hold MetaBoom NFT and 10 mins of Salvation Open Edition NFT can enjoy purchase discounts. Users can also receive commissions by sharing and generating purchases. The event was officially launched in May and will continue to be held.

- Daily Farming points daily tasks. Complete tasks such as listening to music, editing playlists, and sharing playlists every day to easily earn points rewards while exploring music. Points rewards will be eligible for the $MMU airdrop, which is currently ongoing. In addition, FANSI will soon launch Soulbound Token (SBT) related to points. Accumulate 100 points to receive SBT, and accumulate 500 points and 3000 points to upgrade SBT. Having a higher level of SBT will enjoy more ecological benefits.

MetaBoom Web3 Music Player

How to listen to music NFTs purchased through FANSI Launchpad and other platforms such as OpenSea? MetaBoom Web3 music player is solving this major pain point.

MetaBoom Web3 music player supports PC, iOS, and Android. With coverage on mobile devices, music NFT owners can quickly listen to their own music NFTs in various scenarios, just as simple as a Web2 music app.

In addition to meeting the basic usage needs of music NFT owners, this is also a carefully crafted Web3 music player.

You can explore music topics that interest you just like using a Web2 music app:

You can visit playlists created by other MetaBoom NFT holders to discover more great music:

You can enjoy gamification elements such as daily tasks, mystery boxes, lucky draws, collector competitions, and cross-application game collaborations. Currently, daily tasks and challenge tasks have appeared in the form of "Score Farming", completing daily tasks can earn you future $MMU airdrops:

Building on gamification elements, MetaBoom combines gamification with social elements. By staking $FAITH, you can support your favorite musicians with more exposure, leave comments about the music you love, and even chat directly with music creators to express your admiration or seek deeper collaboration.

By now, you should already understand that the MetaBoom Web3 music player integrates a very innovative "XX to Earn" mechanism - "Listen to Earn"! So, how does MetaBoom's "Listen to Earn" mechanism work?

Listen to Earn

Music creators, MetaBoom NFT holders, and regular music listeners who connect their wallets to the MetaBoom ecosystem will all benefit from the "Listen to Earn" mechanism.

Music Creator

Buying NFTs released by music creators is the most direct way to support them. Music creators will earn income by selling NFTs, which is a new and innovative art medium.

In addition, 5% of the total $MMU will be allocated as creator rewards to artists who contribute to the ecosystem. These creator rewards will support music creators in various ways, including direct purchase of music NFTs, subsidizing the issuance of NFTs by creators, sponsoring virtual music concerts for creators in Web3, and more.

MetaBoom NFT holders

The visual design of MetaBoom NFT is a fashionable record player, which corresponds to its function. Holding MetaBoom NFT allows you to import your own music NFTs, create your own playlists, and share them. MetaBoom NFT holders who complete the import of music NFTs and create playlists are regarded as "Meta DJs" in the ecosystem.

When you listen to music effectively, have listeners or share the playlists you created, or participate in exclusive activities, you will receive $FAITH rewards. $FAITH is a point system within the MetaBoom ecosystem that can be converted into $MMU Token.

MetaBoom NFT

The higher the rarity of MetaBoom NFT, the more $FAITH rewards the holder can earn by listening to music and sharing playlists with the audience. If the held MetaBoom NFT has a lower rarity, $FAITH and $MMU can be used in the future to purchase and assemble "enhancement parts" to increase $FAITH rewards.

Music listeners

Any music listener who connects their wallet to the MetaBoom ecosystem can receive $FAITH rewards, and these music listeners are considered "Music Junkies" within the ecosystem. This means that even if you don't have a MetaBoom NFT, you can still participate in the "Listen to Earn" game and earn profits.

The way to earn profits is also simple. You can earn $FAITH by listening to and sharing the playlists created by MetaBoom NFT holders. Of course, the higher the rarity of the corresponding MetaBoom NFT, the more $FAITH rewards the listener can receive. This is a great support for $MMU to deflate through the sale and equipment of "enhanced accessories" and to reward high-quality holders.

In addition, to better support music creators who enter the Web3 world through FANSI Launchpad, listening to music NFTs released by FANSI Launchpad can also earn more $FAITH rewards.

Token

$FAITH

$FAITH is the ecological internal points of MetaBoom. Through the "converter", $FAITH can be exchanged for $MMU. The "converter" has 5 rarity levels, and the higher the level, the shorter the time required to exchange $MMU and the more $MMU that can be exchanged. To use a higher-level "converter", it is necessary to meet the prerequisite of holding a high rarity level MetaBoom NFT or Pass card. The lowest rarity level "converter" will be given to users as a registration reward for free, while higher rarity level "converters" need to be purchased with $FAITH or collected from mysterious boxes by collecting "fragments".

Additionally, $FAITH has the following benefits:

- Purchase MetaBoom NFT "Enhancement Accessories"

- Reward MetaBoom NFT holders

- Open the mysterious box.

$MMU

$MMU is the native ERC-20 Token of the MetaBoom ecosystem. Using $MMU, you can purchase music NFTs issued by FANSI Launchpad and enjoy ecological governance rights as a member of the MetaBoom DAO.

Additionally, $MMU has the following benefits:

- Purchase NFT Pass. NFT Pass has three rarity levels. Holding NFT Pass can increase the upper limit of "converter" that the account can have, and support the purchase and use of higher-level "converters", thereby increasing the amount and rate of $MMU exchange.

- Purchase MetaBoom NFT "Enhancement Accessories"

- Cross-application consumption support

The 'Converter' is the key for MetaBoom to transform speculative 'Token flow' into real user benefit 'Value flow'. Only by owning MetaBoom NFT and NFT Pass can users increase the holding limit of the 'Converter' and use higher-level 'Converters'. This means that users who are more active in the MetaBoom ecosystem can obtain more $MMU at a faster rate, and token rewards are more accurately distributed to real users, which in turn inspires users to explore the MetaBoom ecosystem more deeply, forming a positive cycle.

Tokenomics

$MMU has a fixed total supply of 500 million coins, with the majority of $MMU being used to reward user behavior that is genuine and contributes to the ecosystem.

- Community rewards account for 55.5% of the total supply.

- Creator rewards, accounting for 8% of the total supply.

- Team reserved, accounting for 20% of the total supply, locked for 12 months, released over 24 months.

- Private placement accounts for 13% of the total supply, with seed round accounting for 3% and strategic investment accounting for 10%. The tokens will be locked for 6 months and released over a period of 12 months.

- Advisor allocation, accounting for 1.5% of the total supply, locked for 6 months, released over 18 months.

- Public sale, accounting for 2% of the total supply.

Financing Situation

MetaBoom has completed a seed round of financing of $1 million. Investors include Chen Yongzhi, founder, chairman and CEO of Believe Music, which is owned by famous Chinese music artists such as Mayday and Jonathan Lee, Gu Likai, former CEO of Uber Taiwan and founder of Soundon, the largest podcast platform in Taiwan, Hedy Group's venture capital arm Heding Investment, senior investment firm Dayi Investment with 7 venture capital fund management experience, and AVA Angels, the largest angel investment organization in Taiwan, which includes several well-known angel investors such as Karen Tang, one of the founding members of the well-known travel platform "Ctrip".

MetaBoom will use the financing to continue expanding its team and further enhance its technical research and development and marketing efforts, constantly striving to achieve its long-term vision of a Web3 music ecosystem.

Conclusion

The Token economy of Web3, especially the "XX to Earn" mechanism, has always been touted as the biggest highlight of "wealth effect". However, the biggest highlight is also becoming more and more of a drawback, because the "wealth effect" is not only the biggest highlight, but also almost the only highlight. The frenzy of speculators is overshadowing the possibility of reconstructing the connection between creators and users in the Token economy.

MetaBoom is based on the rapidly developing and promising market of music NFTs, and has created a complete music Web3 ecosystem. There is a mature distribution platform, FANSI Launchpad, which helps more music creators who have never set foot in Web3 to enter the new world, as well as a Web3 music player that combines the "Listen to Earn" mechanism. Here, there is no longer a centralized institution deciding the fate of music creators. They can establish closer communication and interaction with users, and strive for user support to gain more visibility and even greater success. The value of music listeners' traffic provided to the application will also be rewarded with tokens through their real usage behavior. This is what we hope to see and what MetaBoom pursues - bringing back the value of music and giving back to creators and listeners.

Unlike most "XX to Earn" mechanisms that require entry costs, MetaBoom's deep understanding of music has led them to create a "Listen to Earn" mechanism that is "Free to Listen to Earn". Music can only demonstrate greater value when it is heard by more people. For a Web3 music ecosystem, the potential massive audience of music listeners should not be hindered by entry costs and user experience. The carefully crafted mobile app, the easy-to-use experience without a wallet, and the "Free to Listen to Earn" all demonstrate MetaBoom's deep understanding of the music industry and create unlimited possibilities for MetaBoom's future.

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