Okay this is Peertracks and apparently the Bitshares asset is MUSE.

Peertracks runs on the Bitshares block chain, which means it can't scale to the level of transaction volume that a popular music paid download system will require. Also Bitshares is a highly centralized platform that will ultimately suffer the destruction by winner-take-all economics of power vacuums. Also the Bitshares instant transactions aren't reliable, because there is only one designated confirmation node for each block period, so the performance of blocks can vary. The usability is simply not going to work reliably at-scale. That is why I didn't even bother to attempt my project until I first solved the nearly insoluble issues with the block chain design that everyone else is grappling with.

The Peertracks Note features is interesting. It might turn audiences in P&D targets though, so I am not sure it is desirable. It is also not clear if these are illegal unregistered securities under SEC law in the USA. I do know that in the case of airplane VIP memberships the Supreme Court ruled they were not subject to the Howey test. I will need to study that more.

Peertracks doesn't appear to do anything about enabling the unbanked to monetize music, which is one of my major goals.

Peertracks is IMO too focused on just music. Users are saturated with music distribution choices. I believe it will require more synergies to compete effectively. The serious music fans in developed countries demographic is already heavily targeted by Spotify, iTunes, and other such sites and apps. The wide open frontier are the less serious music lovers, which no one has yet found a way to monetize well. And I can't see anything Peertracks is doing to change that. I just don't think the masses are going to be tuned into Notes as something they are interested in. You are basically trying to turn the serious music fans into speculators. A rule of Marketing 101 is don't assume you can change an Apple into an Orange. You must target a real existing need, not a fantasy. Yeah speculators here will think Notes are cool, but the actual music fans I think will perceive it to be a negative feature and an insult to love of music. You basically corrupt the musicians teaching then to do P&D instead of produce great music. Sigh.

Disclaimer: my project to develop a truly decentralized, instant, microtransaction altcoin, and achieving widespread adoption also incorporates the features targeted by Peertracks except without the Notes, but my projects runs the gamut from games to collaborating on graphic arts and business documents. We have already chosen a name for the project, and I am confident it is the best name seen yet in our crypto arena. The name implies music distribution but it also implies collaboration on anything not just music.

P.S. Some people have sent me private messages asking me how they can find out about what I am working on. Even there won't be an ANN on Bitcointalk, I am sure you will hear about it if I am successful with my goals. I am not currently seeking any investment nor am I offering favoritism on who will learn about it first. Note there won't be a ninjamine, but it won't help you mine it more efficiently by being early because we won't turn on the mining until we have enough users so that mining is a fair launch. Also the mining will be highly unprofitable for everyone, because you will competing against 1000s of users who are mining at a loss. And you won't be able to speed up the miner on a GPU. And the miner will already be highly optimized for the CPU.