Community Update

A status update on our current efforts

The last several months have been very challenging and our effort has been largely directed toward securing funding. In early 2018, we worked in parallel on fund recovery efforts as well as discussions with potential investors. More recently, we have moved our focus to securing private funding.

Any potential investor will have significant input on the product, roadmap, and direction. Discussions often involve tailoring our pitch and product as well as producing revenue projections and burn rates under varying assumptions. Because we are a small team, this has taken a significant portion of our effort. Additionally, until funding is secured, we cannot publish a meaningful roadmap.

Although development has obviously been hampered by a lack of funding and redirected effort, that doesn’t mean it has stopped altogether. The work to enable streaming access to The Motorleague content laid some of the foundation for a streaming platform and also resulted in some ideas that have been separated into their own sub-projects.

We have quietly launched a tool that allows projects to support a “sign in with your wallet” feature without having to integrate directly with wallet clients. We will consider allowing other projects that would like to offer the same option to their users. The benefits to end users is a consistent, clean, and simplified sign-in process. The design is such that 3rd party websites and end users are not required to trust ethsign.in. Instead, ethsign.in facilitates the process of signing a message with your Ethereum wallet and provides the signed message to the 3rd party site. Although this is a relatively simple feature, it may give additional exposure to Musiconomi if other sites decide to use the service. Essentially, we needed this for our own products, we built it, and we will attempt to turn it into an asset where possible.

Tokenchat was developed as an experimental tool that would allow token balances to control access to a communications channel as well as access to advanced features and exclusive content. Users can optionally filter out comments based on the number of tokens held by the sender and users can post messages that are only readable by other users with a certain number of tokens. It can integrate with any ERC20 token and our alpha version includes several sample channels. Please note, these sample channels are not in any way endorsed, supported, or monitored by the other projects.

There are three main reasons for developing this.

First, we can use it for our own project, integrating Musiconomi specific features and potentially moving away from Slack and Telegram once it reaches a certain level of maturity. Alternately, future Musiconomi products may integrate with the Tokenchat backend to provide an embedded chat experience.

Second, we believe artists will have an interest in finding new ways to connect with their fans and may eventually support artist specific tokens that would carry benefits such as direct and more personal communication with fans.

Third, it will serve as a place where we can experiment with token integration approaches. It currently employs an off-chain feature enablement strategy that we believe strikes a nice balance between usability and blockchain integration. Users can adjust their preferences using a simple drag-and-drop UI. There are eight features that can be enabled/prioritized based on your balance. Each additional feature requires that you hold additional tokens, but does not currently require you to spend any tokens. In the future, we may experiment with features that can be purchased or subscribed to using MCI.

Please note that this is highly experimental and it will likely change quickly or may be discontinued based on other priorities.

Feedback is welcome.

Our very first Musiconomi band, The Motorleague, has been experiencing great success with the release of their first single, “Everyone is Digital” from the new EP, No Dead Horses.

The single was released May 19th only a few weeks on the charts and it is the highest debut of their career! It enters the Mediabase Active Rock Chart at #26, its the #3 Greatest Gainer, #2 most added at Canadian Rock Radio and over 40,000 spins on Spotify and no sign of slowing! We are super proud of the boys. They made a great record and people are really taking notice.

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