MHE crypto Music Group is a decentralized entertainment company built off the Ethereum blockchain technology where users will be able to access our virtual metaverse. A virtual reality space built on major VR platforms; Decentraland, Cryptovoxels, and The Sandbox. With more platform integrations to come as we grow. Users then can access our metaverse virtual world to interact with other people across the world in a virtual setting. Upload and monetize all digital work for display and/or promotion in our virtual space like Music, Art (canvas and digital), Short films, Collectibles, Content, Promotions, Products, Live events, Virtual concerts and more. Our token distribution system is based upon non-fungible tokens. Our token called MHE will be a ERC20 token powered by Ethereum blockchain and/or BEP20 token powered by Binance Smart Chain.
These tokens will be used for beginning development of our company, early on investors and our partners. Tokens will also be used for in world and virtual world purchase of digital goods and assets. Our Non fungible token system will not work like regular crypto currency tokens, currency tokens unlike assets tokens are valued by market fluctuations and currency exchanges. Our non-fungible tokens will be used to store and transfer digital assets that contain identifying information recorded in smart contracts by our company and users. This will make it easier for users to identify, tract and monetize content. It will also give people and business an easier way to explore blockchain technology and virtual reality.
Our platform will give access for all nature of content creators to access a new market, increase revenue streams, promote new content, engage new audiences, and explore a never-ending development in technology and the future. The virtual reality space market is valued at USD $17 billion in 2020 and is supposed to increase by 50% by 2026. Major companies and artist have already turned to virtual reality and blockchain technology to promote projects, albums, music, art and more. From Travis Scott, to DJ Marsh-mellow, gaming company Fortnite and social media giant Facebook with oculus. More people are spending time in virtual worlds, from leisure to work. This happens mainly in 2D interfaces like mobile phones, tablets, and the web. But imagine a 3D virtual world component which adds an immersive environment that connects content with communities globally.
This document lays out the philosophical underpinnings, technical foundations, and economic mechanisms of MHE Crypto Music Group.