NFT Platforms For Musicians

Published Categorized as Music NFTs

Originally posted 2022-03-26 10:21:58.

What are ?

Music NFT platforms are companies that facilitate the sale of music non-fungible tokens on the blockchain.

How do platforms operate?

platforms can issue a unique, digital certificate to holders as proof of ownership of that music.

Music owners can establish contractual agreements that assign shares of parts of the music to fans.

This kind of arrangement is highly beneficial for the music copyright holder since other copyright holders will promote the music in order to generate income.

Such arrangements are also beneficial to fans and companies with interests since they can obtain a tangible return on investment in their favorite music creators.

Under such agreements, fans or companies that own copyrights in the music will then earn royalties on the sales.

This kind of arrangement is therefore the new face of modern music corporations. Music creators and publishers can copyright music by virtue of a unique digital certificate or key that confirms ownership of that music.

Music copyright owners can establish contractual agreements that assign copyright shares of parts of the music to fans.

Under such agreements, fans or companies that own copyrights in the music will then earn royalties on the sales.

This kind of royalty-bearing NFT is referred to as Limited Digital Assets/ LDAs (Coin Desk, 2022).

This kind of royalty-bearing NFT is referred to as Limited Digital Assets/ LDAs (Coin Desk, 2022).

This kind of arrangement is highly beneficial for the music copyright holder since other copyright holders will promote the music in order to generate income.

Such arrangements are also beneficial to fans and companies with interests since they can obtain a tangible return on investment in their favorite music creators.

This kind of arrangement is therefore the new face of modern music corporations.

Other potential benefits of platforms

Music NFT platforms provide a space from which music creators can issue different kinds of non-fungible tokens. These special music NFTs can include:

  • discounted concert tickets.
  • special seats at concerts.
  • meetups with the artist.
  • music NFT videos (Coin Desk, 2022).

NFT platform

NFTs are called  Sellouts NFT. They are available to Distrokid members and are limited in volume.

According to Distrokid:

Sellouts is a collaboration with thousands of independent music creators to design & mint 9,999 individualized, collectible, carbon-neutral NFTs that commemorate the music of each artist. 

Distrokid NFT platform terms and conditions

Sellouts is free for Distrokid members.

Members will receive 80% from the first sale of their NFT, and 10% from resales.

Members are provided with a Sellouts page.

Members create music NFTs by clicking the “Design your NFT” button.

Each SELLOUT or non-fungible token is valued at $60.00.

They can be purchased with Ethereum.

No GAS or hidden fees.

Dito

Ditto Music is a music distribution platform that has a Music NFT platform. Their platform is free and located at Opulous.

Ditto Music’s Opulous platform offers the following features:

1. NFT Launchpad

NFT Launchpad is the company’s brand name for music copyright NFTs. This means that music creators can copyright their music on Opulous and conduct business like any big music corporation.

Buyers on the platform will purchase Opulous tokens which is the currency to obtain a share in the music copyright.

2. NFT Exchange.

NFT Exchange allows fans and other interest groups to invest in music creators. They can buy copyright shares, trade copyright shares, and earn royalty revenue on the music of their favorite artists.

3. DeFi Loans.

Opulous offers cash loans called DeFi Loans. The collateral are future royalties. Ditto promises that their loans will replace unfair deals.

Blockchain

Opulous uses the following blockchains:

  • Ethereum Blockchain and
  • Algorand Blockchain.

Opulous tokens

Opullous tokens are called SOPUL (think of play money). They are the native units of transactions on the platform, meaning that they are owned by the company.

The SOPUL token is inexpensive and currently valued at $0.03 to $0.05. Hopefully, the company will maintain the token at this price.

SOPUL can be purchased using stablecoins, Ethereum (ETH), and FIAT currencies (regular money).

Read more in the Opulous PDF.

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