According to the official news, Melos Studio conducted its first Melos token Public Sale at Tokensoft on March 1, 2022 at 2:00 pm UTC (9:00 am ET). The token price was 0.05USD/Melos. The minimum subscription for each participant was 500USD, and the hard cap was 1000USD, making the total fundraising 500,000USD in total – 1% of $Melos tokens supplied. The number of participants in the public sale peaked at over 7,000. As there were only limited tokens available for this public sale, the team had to draw the lucky users from all users. In the end, only 530 people won the lottery, making the sale 16 times oversubscribed and the winning rate only 8%.
This public sale was so popular that a large number of users did not hold Melos tokens. Therefore, Melos Studio will release more tokens on IEO soon on a top crypto exchange. This will be the best new opportunity for users who love Melos Studio and Music NFT segment. Please stay tuned to the latest official information released!
Melos token is the governance token of the Melos Studio ecology and is currently listed on Ethereum. It is the basis for the Melos’ entire business model. Its total supply is 1 billion. In the future, Melos Web3 content creation will be based on Melos tokens.
The positioning of Melos Studio
Melos Studio is a Web3-based music collaboration and social platform that supports online music creation, intelligent generation, multi-party collaboration (e.g., simultaneous off-site and off-time NFT creation), and trading. Melos Studio has received institutional investments from Dapper Labs, Binance Labs, NGC Ventures, Multichain Capital, Innovation, and CryptoPhd. In terms of ecological development, Melos Studio is not only focused on the development of the music industry and opening up new paths but also provides a new way for the music industry to integrate, communicate and cooperate with other industries through technologies such as NFT.
Creating its Twitter account as early as 2020, the team has been keeping a low profile and devoting themselves to the project development, rarely disclosing any information about themselves or making claims about their activities. The first tweet about Melos Studio itself was published on July 9, 2021, and the Onepager was disclosed the next day. At that time, Melos Studio was only followed by a small group of people. (Reference:
Both Melos Studio and other music NFT projects are using blockchain as the underlying technology to confirm asset rights with NFT, while allowing NFT to complete value realization through the trading market. But Melos Studio boasts several distinct advantages. According to Melos Studio Onepager and whitepaper, its core business model makes breakthroughs in the music industry. It regards music NFTs as the ecological goal of the content creation economy and aims to eventually complete building a music utopia for worldwide music lovers. In the countdown section on the official website, it mentions that all music creators are welcome to create, share and profit freely in Melos’ music utopia. (Reference: https://twitter.com/melos_studio/status/1415146634598502401)
On 16 July 2021, Melos Studio official website was launched. The team made a post on Twitter and attracted the first wave of user traffic. The post received 1000 comments, 2300 retweets and 1800 likes on Twitter, suggesting the market’s recognition of Melos.
Since then, Melos Studio has become the fastest growing music NFT projects, surpassing its rivals in the music NFT field.
As of now, it has over 110,000 followers on Twitter, second only to the current leading project Audius which boasts 132,000 followers, an achievement that is made after two-year efforts. In comparison, it took Melos only six months to catch up since its Twitter opening. The fact that as many as 7,000 people attended the public sale on Tokensoft testified the value of Melos Studio. With its solid economic and technical underlier, Melos will live up to users’ expectations after the sale.
Melos’ ecological goal
The completion of the public sale also signifies that Melos Studio will move to the second phase of ecological expansion. Since Melos Studio launched its marketing activities, it has been committed to using NFT to explore the combination of traditional music with blockchain applications. It not only proactively engages itself in promoting international cooperation of artists, but also presents itself in media, social organizations, projects and other cooperation methods to expand its ecological boundaries.
The ultimate goal of Melos Studio is to build a music utopia for all music lovers where they can freely create, share and profit. In this way, all of them can seek better creative inspiration and extra income.
Melos Studio, through half a year’s efforts and cooperation with many other parties, boasts the most artist fans among all music NFT projects. With the exposure to tens of millions of fans, there is still much value to be discovered in Melos.
After Melos Studio built the venue in CryptoVoxels, it has hosted several online events on its metaverse base, including a memorial concert for David Bowie. The Melos venue saw the most traffic in the month the event was completed, and even now it is ranked fourth.
On February 12 2022, Melos Studio sponsored and provided technical support for UCA’s 2022 “Concert in the Cloud” North American Talent Show Contest and “Bukaopu” Lunar New Year Online Gala. Music from original music creators who won the prize were minted into music NFT by Melos Studio.
In terms of project ecology, Melos Studio is actively cooperating with Gamefi, Project Galaxy, crypto soft wallet, exchanges, traditional media and blockchain media channel to enrich the depth and width of Melos Studio ecology.
The potential value of Melos tokens
The leading music project Audius currently has a circulating market cap of $500 million and the total market cap is about $900 million. But it faces the problem of very limited application scenarios and value appreciation. Supposing the MelosPUBLIC SALE token is priced at 0.05U, Melos’ full market cap will be as high as $50 million, suggesting Melos has the potential of 16 times value growth than Audius.
The initial release volume of Melos tokens is very low, but the public sale only accounts for 1% (10 million). The initial circulation market cap is only $500,000, which is heavily undervalued compared to the current circulation market cap of its rival – Audius. We can expect to see drastic value growth of $Melos.
The Melos token has a similar fan sponsorship application scenario as Audius. That is, users can donate tokens to their favorite artists to get music NFT or other privileges in Melos Studio ecosystem, or even share the revenue generated from music NFT releases. It is also possible that users start a brand new music band in the community through Melos token fundraising in the future .
In addition to this, Melos tokens are the foundation that supports the entire Melos Studio business model. In the future, Melos Studio web3 content creation economy will revolve around Melos Tokens, including filling the market niche of UGCfi. By empowering NFTs with financial attributes, Melos tokens will make it possible to launch projects merely through NFTs.
In terms of ecological development, Melos Studio not only focuses on the development of the music industry and the exploration of new paths but also provides a new way for the music industry to integrate, communicate and cooperate with other industries through NFT and other technologies. In this process, Melos’ token will take the most important responsibility and become one of the most important players in the industry.
Even being compared to the leading music NFT projects in the market, Melos Studio still boasts a short-term earning power of as much as 16 times more than its initial offering price. When situating this potential in the context of token mining, Melos token can provide several times more base revenue. Such high returns, combined with the commercial value enabled by Melos Studio ecological growth, can guarantee that Melos Studio is bound to overtake Audius and overcome the bottleneck of market cap. It is just a matter of time.
With the launch of Melos tokens, it can be expected that NFT hash farming and mining will also be opened soon. By then, those who missed the public sale can also participate in the ecological development of Melos Studio.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Michigan Journal USA journalist was involved in the writing and production of this article.