Today, Muses is a paper-trading prototype — you can't actually lose money. The rest of this page describes the risks that would apply if Muses ever becomes a real, money-handling product. Kept here so the shape of those risks is clear upfront.
Muses Exchange is a paper-trading simulation. You trade with virtual credits against prices computed from public streaming and performance data. Nothing you do on the Service today can cost you money. This page exists so that, if the Service ever moves beyond paper-trading, the risks of the real product are understood upfront.
Muses artist shares — in the hypothetical real-money version of the Service — would be synthetic instruments whose notional value is pegged to a weighted blend of measurable performance data: streams, audience growth, tour data, cultural signals. You would not be buying equity in the artist, royalties, copyrights, or any economic interest in the artist's future recordings. You would be taking a directional view on the artist's trajectory.
The value of artist shares can fall as well as rise. Prices are driven by real-world performance data and order-book supply and demand, both of which can move sharply and unpredictably. There is no guarantee that any artist's price will recover losses.
Some artists will trade thinly. You may not be able to sell a position at the price you want, or at all, if order-book liquidity is low. Spreads may widen sharply during off-hours or volatile events.
Prices displayed on the Service depend on upstream data from streaming platforms, analytics vendors, and other third parties. Data outages, delays, errors, or policy changes at those sources can affect pricing, trading availability, and settlement. The Service does not guarantee the accuracy or availability of any third-party data feed.
Cultural moments — viral clips, album drops, scandals, tours, award wins — can cause extreme short-term price moves in either direction. Circuit breakers may pause trading during such events to protect the market, but they do not eliminate the underlying volatility.
The Service is a complex software system. Outages, bugs, connectivity issues, and cyberattacks can affect your ability to place or cancel orders, or to view accurate account information. We maintain contingency processes but cannot guarantee uninterrupted access.
In a future real-money version, the Service would operate under financial-services authorisations that may change over time. Regulators may impose restrictions on new products, on users in certain jurisdictions, or on specific trading activities. Future regulatory action could materially affect the Service or your ability to trade.
Tax treatment of gains and losses on artist shares depends on your personal circumstances and country of residence and may change. The Service does not provide tax advice. You are responsible for reporting and paying any taxes due.
Nothing on the Service — including prices, rankings, news, research, and signals — constitutes personalised investment, financial, legal, or tax advice. The Service does not know your financial situation, objectives, or risk tolerance. If you need advice, consult a professional licensed in your jurisdiction. See also our terms of use.
Questions: legal@muses.exchange.
No real money, no deposits, no KYC. Sign up free with $10,000 in virtual credits and paper-trade 105 artists.