But the way I see it is that the decentralized (and also amorphous) band idea hasn't been done before. The incentive to such a project would have been hard in itself because few people want to attribute their time and energy to something where they won't get any easy gains. When you add a cryptocurrency to this idea, it becames a realization of the idea as a commodity. As stated on the site: "The cryptocurrency also means that if the collective releases great music, we ALL become successful: enabling us to continue churning out great music to share and remix. It is music, decentralized: attempting to be the world's biggest, and most diverse band."
But how does the whole collective become successful if great music is released? If the musician doesn't buy or mine any Cyperfunks they don't gain anything from Cypherfunks going up in value. Musicians have to invest in Cyperfunks to have the chance to gain anything and if it 'takes off' then whoever invested earlier gets the most, not the best/most highly contributory musicians.