With the crypto market crashing and exceptional volatility in both coins and NFTs, investors may be considering safer options. While there is no telling where any individual NFT will head, there is no doubt that NFTs will continue to be created, issued, and sold for the foreseeable future. If you want to tap into the potential growth of blockchain technology in an intelligent manner, consider betting on an NFT company. These 5 NFT platforms are quickly developing alternative NFT release methods geared towards the music industry.
A unique music streaming platform powered by the ROCKI token. ROCKI pays per stream for music on their platform. Featuring a subscription model that can be paid in both FIAT or cryptocurrency, ROCKI pays out a much higher rate than traditional streaming platforms. Each song uploaded to ROCKI is backed by a NFT to ensure proof of ownership. ROCKI has rolled out Staking for Artists, essential using DEFI principles to reward both individual artists and their fans willing to commit their ROCKI tokens.
ROCKI is built on the Binance Smart Chain which has very low transaction fees. ROCKI is clearly innovating and deploying features from around the cryptocurrency world and adapting them for use with music. Suffering from the recent collapse in coin prices, ROCKI’s coin market cap is currently around $1.35 million and they have announced additional fundraising of close to $1 million with investors such as Black Dog Venture Partners. Expect this unique platform to continue to grow and flourish.
Perhaps one of the best known NFT companies in the music scene, OneOf has issues NFTs for superstars such as Whitney Houston, Doja Cat, The Game, and Alesso. They have upcoming drop of NFTs commemorating the Grammy Awards. OneOf is already tapping into an elite tier of artists and businesses. While issuing a number of successful drops, OneOf does not stick to a standard model. Each drop is unique and tailored to the artists.
While there is no doubt that OneOf will continue to find success, they charge high upfront fees to develop a NFT package that will be out of reach for most smaller artists. This truly is a NFT company geared towards offering elite experiences and their model has already proven successful. OneOf is built on Tezos blockchain and has raised an astounding $63 million in funding from Tezos Foundation, Sangha Capital, and a few individual investors.
3. Mint Songs
A fantastic platform allowing artist to tokenize their music with NFTs. Sporting a fresh redesign and fully launched to the public, Mint Songs is seeing instant adoption by independent artists. Utilizing the Polygon blockchain and taking advantage of low transaction fees, Artists are encouraged to issue 10-25 NFTs per song and price them at $2-3. As a result, these music NFTs are an affordable way for fans to get a unique digital collectible and an easy way for artists to grow their fanbase in the metaverse.
Mint Songs recently announced a successful raise of $3 million in a seed round featuring investors of the quality of Coinbase Ventures, Dapper Labs, and Freestyle. Lead by a professional and quickly growing team, Mint Songs is bound for success. As an increasing number of artists want to tap into the NFT space with their music, Mint Songs easy uploader and helpful guides can help artists start earning today. One of my personal friends who is an independent musician managed to sell his first NFT through Mint Songs.
Royal is the new kid on the block and is already making a massive splash. Founded by the NFT king, Justin Blau (3LAU), Royal is focused on selling the right to music royalties via NFTs. Their first drop featured Nas and generated such a buzz that the site crashed. They rescheduled the release for the following week, beefed up on servers, and had a successful NFT drop that sold out in minutes. Nas was able to sell over $560,000 for 50% of the streaming royalties generated by the songs Ultra Black and Rare.
Royal gives fans the ability to invest in their favorite artist with royalty-bearing NFTs that earn while you own them. This unique technology is set to revolutionize the industry and Royal is already seeing backing from major artists and investors. Royal has raised an astounding $71 million in funding from investors including a16z, The Chainsmokers, DJ Kygo, Blockchain Founders Fund, and others.
1. NFT Concerts
Yes, I admit a little bias here, but I believe this prediction will prove true. With plans to launch in February, NFT Concerts is bringing ability for fans to Own the Show. By issuing NFTs that unlock access to stream a unique concert recording, NFT Concerts will enable fans to re-watch their favorite performances on demand. By utilizing the NFT as an access token, owners will be aware of exactly how many tokens are issued per show. They have ownership over that NFT and as such will have the ability to resell that NFT in the future for a price of their choosing. This allows artists to ditch ad-revenue and subscription based distribution models and monetize their show recordings direct to fans through an exclusive set of NFTs.
NFT Concerts is unique in that non-fungible tokens can be issued on both the Ethereum Mainnet and the Polygon Network and both offer the same unlock functionality. We are proud to offer content protection and distribution. Artists will have a simple uploader and minter to choose the number of tokens per show, as well as attach any secret additional bonus content to that show recording to create a unique digital collectible for that performance. All NFT Concerts will feature a music performance of at least 20 minutes and artist are encouraged to do minimal post-production (leave in the breaks). NFT Concerts platform will be open to artists of all sizes.
If you find this idea interesting and believe it fits well in the NFT market, please get in touch. From an investment side, NFT Concerts is currently raising at a pre-seed valuation and would love to speak with anyone who wants to help us build this platform, connect with artists, and develop the future of music memorabilia.
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