Pine Muse Ecosystem
Pine Muse ecosystem support token
The need of token issuance for the Pine Muse ecosystem
Digitization and globalization of the Pine Muse ecosystem
In order for the economic activities of the Pine Muse ecosystem, such as participation and voting of remake auditions, production of remake albums, and profit sharing, to result in new value creation and business model development of Pine Muse, it is necessary for assets created in the Pine Muse ecosystem to be converted into digital tokens in the blockchain network so that its rights can be easily traded.
For the globalization of the Pine Muse ecosystem, a system that can encourage the participation of global users is needed. By using tokens, it can improve the way of the ecosystem participation and profit compensation that are done through complicated foreign currency remittance.
Transparent compensation and motivation for participation in the ecosystem
Token issuance gives transparent rewards to ecosystem participants and motivates ecosystem participation. By tokenizing the right to participate in auditions, the value of content profits, etc., profits from the ecosystem can be shared with artists and global users participating in the ecosystem.
Artists can actively participate in the production of remake contents and value sharing through transparent profit sharing using tokens. Global users can use tokens to sponsor artists and actively participate in content vote to share the growth value of the ecosystem with artists.
- Securing net asset value through digital assetization of intellectual property rights
The net asset value of the token can be secured by converting the value of various music contents generated in the remake audition into digital assets. Sponsorship for music contents produced by artists, profits from various advertising, etc., can also be converted into digital assets to secure the net asset value of the token.
Neighboring rights of remake albums produced by Pine Muse and profits from neighboring rights generated for 70 years from the release date are converted into digital assets, and the profits are shared with the members of ecosystem and are accumulated in the 'Token Stabilization Fund' which results in securing the net asset value of the token.
- The need for continuous investment for the growth of the Pine Muse ecosystem
Continuous investment is needed for the growth of the Pine Muse ecosystem. It is necessary to have a support system using digital assets to finance production of remake albums and creation of neighboring rights, the platform's technical maintenance and system upgrade, and marketing to promote participation in the ecosystem.
Token types supported by the Pine Muse ecosystem
PIM (fungible token)
PIM is a utility token used for NFT purchase and profit compensation for participation in the Pine Muse platform ecosystem. Details will be explained in the ‘Token Economy’ section.
Pine Muse remake NFT (non-fungible token)
ㆍRemake Rights NFT: NFT that proves audition participants' right to participate in auditions such as securing remake rights, and is the basis for sharing audition evaluation profits
ㆍFandom NFT: NFT that is based on the remake audition content of the artists participating in the audition and serves as a certificate of sponsorship for the artists
Co-ownership Node NFT
‘Co-ownership Node NFT’ is a certificate that serves as a distributed storage and hosting of music contents such as remake music and NFTs. Buyers of the ‘Co-ownership Node NFT’ provide a small-scale hardware, are entitled to the right to participate in various decision-making in the Pine Muse ecosystem. The detailed plan to issue the 'Co-ownership Node NFT' will be announced later.
Major components of the Pine Muse ecosystem
System to support the Pine Muse ecosystem
ㆍ Token Issuance Foundation: Issues and distributes PIM, a digital asset, to support the entire Pine Muse ecosystem.
ㆍ Music Copyright Investment Companies and Copyright Holders: Provides intellectual property rights and remake rights essential for the growth and audition of the Pine Muse ecosystem.
ㆍ Pine Muse Remake Audition Platform: Provides a support system for the production of artists' music content, the evaluation by users, and the compensation for participants through remake auditions.
ㆍ Artist Raising & Supporting System: System to raise and support audition participants and winners into K-pop artists.
ㆍ Pine Muse ‘Co-ownership Node’ Operators: Provides hosting functions for music 16 contents produced by Pine Muse.
ㆍ Pine Muse Partners: Support the Pine Muse ecosystem through data center and technology development for the Pine Muse platform, remake album productions, marketing, etc.
Global amateur artist
Global amateur artists are participants in the Pine Muse ecosystem that supply music contents through remake auditions. The winners of the Pine Muse audition receive award and benefits, and some of the winners are offered the opportunity to participate in various training programs as Pine Muse artists.
Global users are participants in the Pine Muse ecosystem that contribute to improving the quality of auditions through content evaluation of remake auditions. They serve as a supporter of artists, and are rewarded according to their contribution to audition voting.
Ecosystem sponsors are sponsors who contributes to the growth of the Pine Muse ecosystem through various events like B2B event such as an event to promote the release of new songs and products.
The future of the Pine Muse ecosystem
A new leap of the remake genre
Through the global remake audition platform ecosystem, Pine Muse intend to establish a system that allows the remake genre to take a leap forward. When the masterpieces and the creativity of global artists are combined, the masterpieces will be reborn as songs with different sentiment. Numerous artists at home and abroad will challenge new variations which global users enjoy, and the heyday of the remake genre will begin.
Living and breathing music copyright value
The remake of numerous artists at home and abroad will bring K-pop's music copyright value to life and will be an important opportunity for K-pop to have global universality. In addition, as numerous masterpieces are reborn as new masterpieces that hold the sensitivity of the present era, existing copyright holders will enjoy the joy of the birth of a new life.
A global playground for music creators
The Pine Muse audition platform will be a ‘global music playground’ for artists who can fully display their creative talents with numerous masterpieces. The music contents remade by artists in Pine Muse will be traded at fair value. It will further increase the economic value of the contents through various methods such as inserting the contents as OST or BGM of dramas and movies.
Sharing the growth value of ecosystem through token economy
Blockchain-based Pine Muse ecosystem will share the profits of the ecosystem with everyone within it, including copyright holders, through token economy. A portion of music copyright profits will continue to be reinvested in music copyrights, and the growth profits will also continue to be shared.