Originally posted by: James Tylee
Interestingly enough. CYFM is a use case / proof of concept for MFTU. We used the listeners in the ecosystem to prove that we can track valuable data while keeping it virtually anonymous.
MFTU is being built upon the same exact tech to track “Artist Performance” so when we have lots and lots of Artists (currently only have like 300) their performances can be tracked and they can be compensated on chain.
No “nickel and diming” can really happen from us to the artist and the artist receives full timely payments.
In a non governance world, there’s no need for oversight or auditing by agencies and Fed Govt for copyright laws as the blockchain is immutable and transparent.
Also: artists are always limited to collecting royalties “per country” but on chain a universal currency with global listeners erases those borders entirely.
That’s why you hear artists like “The Hu” from Mongolia and they can be paid in a currency that requires no fiat conversion or “permission from Mongolia”
This is like 20% of MFTU use case so far. On the tokenomics side we are currently trying to figure out liquidity, the ETH Gas Surge has really put a lot of speed bumps in that.
When we recently added the CYFM tracking to automatically mint out currency on the MFTU side without even involving a middle man (extra smart contract) we created another layer of Artist Compensation where the Radio Listeners are directly compensating the Artists without us!
It was an “a Ha” moment at the time and really revolutionizes the Musician / Fan relationship and now puts MORE money in the Artist pocket. Something Spotify will NEVER do.
So now our ecosystem is like a “Credit Union”
Also the listeners are using CYFM to compensate the artists with ZERO cost to them. They are literally paying out based on tracking with no expense FROM their wallet.
This is why CYFM is deflationary and MFTU is controlled but inflationary with burning capabilities.
Our next step with is what we’re doing currently is the plug n play so ANY Radio Network can participate with it without us.