Why Stations, how does it fit into MeMusic?
Clubhouse, a social audio app released in 2020, once gained surging popularity across the globe. While maybe not as popular as ChatGPT, the virality was quite similar. The invite-based social networking application instantly created FOMO, and there were many companies chasing after institutional funding and a wide user base with a similar approach. However, recently Clubhouse and its alike are in somewhat decline. Yet, here is why MeMusic decided to still venture on building an audio-based social networking service.
Music in the web3 space is limited
Interactions between the fans and creators are mutually important for both parties. Without the interactions, artists will not be able to have a fanbase, nor fans will accumulate for a particular artist. At MeMusic, we believe that most platforms are only focusing on the economic, commercial interactions between the fans and creators. As a platform provider, it is important to understand that fandom needs to be first established in order to potentially instigate a commercial interaction. Fans will pay when they believe their experiences are valuable or exclusive. Live chat rooms on Stations can provide an easy outlet for existing creators to have interactive, virtual experiences with their fans. Additionally, Stations will also allow various creative minds to immediately start their journey as a creator on the platform.
Mass adoption as a challenge
When it comes to blockchain-based applications (DApps), there are controversial debates on notable platforms and their traction. Analytics can focus on an application’s TVL (For DeFi Apps), number of wallets, and number of smart contract interactions. Unfortunately, the complexity of the tech stack DApps implement can often hinder an accurate analysis.
Whether a certain application actually exceeds the actual DAU (Daily Active Users) in relevance to smart contract interactions is not important. The bar needs to be raised higher for blockchain applications. More than often, blockchain applications fail to serve a massive user base unlike its massive market capitalization. With the exception of a few protocol projects like Ethereum, it is undeniable that projects are overvalued when comparing users against marketcap.
At MeMusic, we take the challenge of leading mass adoption seriously. Without having a proper audience, the opportunity cost for artists to spend their time on building a digital identity and presence within the web3 atmosphere will be huge. We tackle the challenge by decreasing the entry barrier and designing a seamless user experience.
We believe that Stations can break the limits of web3 platforms. Stations is our take on helping artists and creators build deeper connections. We will begin as an audio-based social networking service, but as the name does suggest we believe that creators can broadcast all different types of content as if each content creator was a radio or TV station.
MeMusic as an ecosystem
Most importantly, at MeMusic we are dedicated to building a company to challenge the existing tech-giants like Spotify and Apple Music. Therefore, the importance of providing services that can accompany different types of artists on their journey is crucial. We thrive to provide a seamless experience as a platform provider but more importantly as a partner for the artists. Having a single-sided focus on a particular service will fragment artists’ attention and experience. As our brand identity symbolizes, MeMusic stands for a merging concept of audiowave and harmony. Stations is just the beginning of our journey.
