Musicoin Foundation is the creator of Musicoin, and is responsible for maintaining the network, developing the platform and engaging in the global music community.
The Foundation was established by the founding board members to operate on a fully digital, blockchain based platform, with several simple but effective protocols to guide its growth and evolution.
Although the Foundation is currently leading the development of the Musicoin system under direction of the board, mechanisms are in place and continue to be developed to ensure that participation in the expansion and success of the Musicoin platform as a whole is open to the entire Musicoin community.
The Foundation will use this fund to support further system development, security enhancement, UX improvements, etc. All fund expenditures will be published online and fully transparent based on respective tasks.
This fund is dedicate to be used in the early stages of system launch to subsidize guest playbacks of songs released under the Pay-Per-Pay license. For a limited time, unregistered users can explore all the features and enjoy the full listener experience that Musicoin has to offer without having to acquire and spend their own Musicoins. Instead, coins are sent to musicians’ wallet from this fund each time the user clicks the ‘play’ button.
The objective of this fund is to support and promote community engagement activities and initiatives consistent with the governance structures and protocols established by the Foundation. It is anticipated that early on, the fund will be used primarily to grow both the Musicoin user-base, as well as the body of music available for consumption. Later on, that is expected to shift towards providing support for events such as conferences and other development-oriented initiatives.