Recapitulation of Non Fungible Music {NFM} PROJECT AMA event held at AMA LOVERS CLUB.
Venue: https://t.me/amaloversclub
Date: Friday, 25th March, 2022
Time: 16:00 UTC
The Non Fungible Music {NFM} PROJECT team was represented by @Nfmr0x who judiciously shared with us detailed knowledge and information about Non Fungible Music {NFM} PROJECT.
1st Segment: INTRODUCTION
✨✨QUESTION1🩸: Can you introduce Non Fungible Music, what critical problems does it solve that existing solutions are not solving and what's the competitive advantage?
👉ANS: Our main goal is to decentalize the music industry - typically artist have to relinquiwh the right and maasters to their creative work as well as royalties in exchance for fame. It’s a terrrible system where the recordd labels take advantage of the artists they sign.
Our competitive advantage is the fact that we have created a bonding curve economy for recording artists.
✨✨QUESTION2🩸: Can you give an overview of the Tokenomics and Utility of $NFM tokens?
👉ANS: So the NFM token serves as both a utility token AND a governance token (ERC-1363) in the fact the it’s token used to mint music and music video NFTs as well as art NFTs that they can sell/auction on their profile pages - which will include a bio, photos, anything they want to share. They also have a forum on their profiles where they can communicate with their fans/investors. Aside from that, the NFM token will be what is used to deploy a bonding curve contract of them selves, esssentially tokenizing them selves. Fans/Investos can then “bond” or “unbond” (buy or selll) the secondary tokens the contract generates called “shares”. The earlier you find a good young artists, the more profit is to be made by investing in them!
Each artist is entitled to 25% equity in themselves - but they can only “unbond” or sell a portion of thst (1-5%) every 30-60 days as to not crush their own market. It’s like each artist is their own AMM.
✨✨QUESTION3🩸: Learnt token is launching today
Can you give some information about the launch?
👉ANS: Yes! It was supposed to be at 12pm EST but it got a little screwed up the timing was off. I fixed the issue, and we’re back on track. The token sale is set to start in about 5 mins. We think this one will go fast, we[‘ve been working on this project for over a year now, it’s VERY complex on thre backend but we got it done just in time for ther NFTLA conference. You will be able to use layer 1 ETH for the first 60 days, and then we will move some of tht liquidity over to L2 Polygon (MATIC). We’re so excited to have a booth next to WArner Bros, and to be building a paqrtnership with Ichi - I think they are in the topp 200 marketcap now. Utilizing their staking mechanisms called “Angel Vaults”, it will make it so muvh easier for new comcers to adapt to the crytpo world 🙂
Here is the link to the token sale, it might even be live by now:
https://www.safu.investments/sale/eth/68
👉Follow Us On Our Various Social Media Communities For More Update👇👇👇
THE SALE IS OFFICIALLY OPEN! BUT ONLY FOR LESS THAN AN HOUR. THE EARLIER YOU GET IN THE RARES THE GENESIS NFT YOU RECEIVE 💙💙💙https://www.safu.investments/sale/eth/68
📍Non Fungible Music (NFM) social media
- Telegram : http://t.me/NFMusicNFT
- Twitter : https://twitter.com/NFMusicNFT
- Discord : http://discord.gg/nfm
- Website : http://nfmtv.live
👉FOLLOW AMA LOVERS CLUB ON:
🪐Website: https://amaloversclub.com
🐦Twitter1: https://twitter.com/amaloversclub
🐦Twitter2: http://twitter.com/amaloversnews
📌Telegram Group: https://t.me/amaloversclub
🌎📢Telegram Channel: https://t.me/amaloversclub_channel
📑Medium: https://amaloversclub.medium.com
👾Discord: https://discord.gg/mHCDwjJ9QH
