Mind Music is designed to help people suffering from depression or other forms of mental illness. Mind Music is dedicated to bringing young people together under one roof to talk about their mental health and reduce the stigma of depression. Using the power of music to relate to sufferers, the Mind Music team aims to inspire them with hope through understanding and showing them that they are not alone.
According to its whitepaper, the project aims to provide people with a musical outlet, enabling them to begin a journey toward mental stability.
Mind Music also seeks to develop its own independent music recording label, collaborating with artists worldwide. The recorded music industry can generate over $20 billion each year. It hopes to capture a small segment of this market and offer relief to millions of suffering people.
Besides, MND is the native token of the Mind Music cryptocurrency ecosystem. The token has the following key features:
In addition, Mind Music donates 80 percent of the profits generated from record sales to mental health and suicide prevention charities. And the remaining 20 percent of these profits are used to acquire and burn Mind Music Coin, ultimately increasing its value. The act of burning a cryptocurrency involves sending the token to an account that is only allowed to receive them. In addition, shareholdings in Mind Music are expected to grow as the record label grows.
Each transaction generates 1 percent of redistribution to holders based on the percentage of coins held. This means that the amount of Mind Music Coin users hold constantly increases.
The 12 percent transaction tax is distributed as follows:
