Muse (MUSE)

What is it?

Muse DAO (MUSE) is a cryptocurrency primarily serving as the governance token for the NFT20 dex, a decentralised exchange platform for non-fungible tokens (NFTs).

What is used for?

The $MUSE token, integral to the NFT20 decentralized exchange (dex), serves multiple purposes. Firstly, it grants governance rights, enabling holders to influence the dex's future decisions and direction. A key feature of $MUSE is its role in fee distribution; holders are entitled to a share of the 5% transaction fees collected by NFT20, paid in ERC20 tokens from various NFT projects like Doki Doki, NodeRunners, Chonker, and potentially more in the future. Additionally, holding $MUSE provides users with a broad and dynamic exposure to the NFT market, as the fees are returned in the form of ERC20 tokens linked to these projects. Lastly, $MUSE serves as a hedge against the NFT industry's volatility, offering a long-term strategy to mitigate market fluctuations.

Who created it?

Muse DAO, officially rebranded from Muse to Muse DAO on 21st November 2021, was established by two notable figures: Adam, a serial indie maker known for his passion for innovative projects, and Jules, a full-stack developer with roots as a smart contract freelancer. Jules co-founded DAppBoard in 2017, a platform akin to Google Analytics for smart contracts. His career path eventually led him to Consensys, where he specialized in analytics for DEX platforms, smart contracts, and other products, contributing significantly to the development and growth of Muse DAO.