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  1. Can I store large size of data such as MP3 in Memo? Are there any implementation examples?

  2. To store the data or any comments in Memo, should I send some amount of EOS? Can I store the data without sending EOS?

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As per https://github.com/EOSIO/eosio.contracts/blob/master/eosio.token/src/eosio.token.cpp

maximum memo size is 256 bytes so you can't store an mp3 as a memo.

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