MusicLife operates a blockchain music exchange that lets fans purchase "stocks" of songs via MusicTokens and earn dividends in MITC. MusicTokens represent property rights to songs, are split into shares, and music holders retain 95% of shares while MusicLife keeps 5%. Fans can buy up to 45% of existing shares, pay to listen at a low price (around one dollar), and trade shares on the MusicLife exchange. The platform uses an AI mechanism to price songs after they reach 50,000 plays and mints MusicTokens accordingly. MusicLife also offers an SDK so other software can embed its music libraries and share in purchase revenue; echo Music is the first embedded app with 30 million users. The company has launched models that let users mine cryptocurrency by listening on connected musical wearables and plans to ship its MusicLens™ audio glasses, which use bone-conduction and sensors, with mass production slated for late 2018. Since launching in June, over 600,000 people have signed up on the MusicLife exchange and the broader ecosystem counts over 30 million users. The company intends to use the new funds to continue building its music exchange.

Total raised

$5M

Funding rounds

1

Latest round

Series A

Latest activity

Aug 2018