2021-09-14 17:29:28
GOLLUM GAMBLE
MindMusic
Marketcap: $220k
So was shilled this by a friend days ago and had a very quick glance at it and my first thoughts were - tg seems quiet and the order book was pretty dead. We spoke again and they told me to look into it some more and were pretty bullish.
First thing I noted was that the marketcap had held a fairly solid floor in the days since I had initially looked into it - despite the general market being volatile. Seems one of those rarer lowish marketcap projects where there is a genuine core of diamond handed holders.
So the project itself has a fairly unique usecase with plans to become the first record label powered by crypto. I initially took the vision statement to mean that there was more of a direct usecase in the production of the music for the token but its mainly through the funding % that pays for the overheads. Definitely feels ambitious as a project but luckily the owner allegedly has prior experience owning a business in the industry so.
I do however definitely think there's a gap in the market for something like this as I noticed when NFTs first started taking off a few big artists were making NFTs of their songs. So I think the initial bridge between the two worlds has begun to be made perhaps?
The profits from record sales will be 80% to suicide prevention and 20% to buying and burning the token to help drive the price up. Got to be honest that I think many would prefer a slightly higher % going into the chart despite the commendable cause.
It seems the team are really passionate and the owner has a legit reason behind starting the project as opposed to most. This gives me a sense that this is one where the owner will be committed for the long term due to his emotional attachment.
There seems to be tangible steps in place to atleast give this a shot of becoming a thing with I think 13 songs already released and the launch of the record label website due next month. I guess I am unsure as to how they'll get artists with a following behind them on board but perhaps they'll go for smaller unknown artists with potential?
So the main thing that I heard that caught my attention was marketing is being really ramped up over next few days with several AMAs booked amongst other things. So this could end up potentially being a good entry before they all land for either an exit after or longer term hold if you feel the usecase has genuine potential.
The ATH was only like $320k so its a good sign that it hasnt been seriously pumped and dumped and there shouldnt be too many holders trapped in from buying a ridiculously high top.
Definitely an interesting one that it could be big if it takes off but the gamble is if they manage to generate a fairly substantial amount of sales on any produced albums or songs. However I guess if they landed just one artist whose popularity really took off it could change the whole fortunes of the coin.
Here are the links if interested:
http://www.mindmusic.finance
https://t.me/mindmusicbsc
https://poocoin.app/tokens/0x897304d4606b2d5fcaf886aa7aa143e478ec36c5
Bear case?
The telegram/holders are still too quiet for my liking but perhaps it is just a lull and this is genuinely how these quirkier projects with diamond handed holders are.
Also the question is will any actually buy the albums or songs of any artists they manage to on board. I personally never buy albums from my favourite artists let alone from some largely unknown artist - which I guess will be the status of who the project would initially attract. Again this could just be me but I could be wrong.
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