With the present crypto market cooldown, there is no ideal time to filter out the noise and turn your interest towards discovering future high-potential music crypto projects.
As a music person, you may be always on the lookout for disruptive music use scenarios in the crypto space. Large communities have been created around NFTs, metaverse music festivals, and music DAOs, and it would be a pity if all these had to disperse and evaporate along with crypto profits.
And we don’t think they will. Simply speaking, artists are not reluctant to hardship. What is a temporary downturn after facing difficulty for years giving one’s art exposure? Frankly speaking, music artists have nothing to lose experimenting with blockchain technology and crypto as a new avenue of distribution and ownership.
Top 5 Music Crypto Projects
In this article, we will not go into why blockchain technology has the ability to revolutionize the music sector or whether non fungible tokens are harmful to the environment. Instead, we will emphasize listing some of the more intriguing and exclusively music crypto projects that are, in the present time, allow music artists on the blockchain like Solana, Ethereum, Algorand, and EOS. So without any further delay, let us begin.
Arpeggi Studio is a fun execution of music and blockchain technology. In essence, this is an in-browser DAW (Digital Audio Workstation) that allows you to formulate a track on the point and mint it. They term it the first on-chain music formulation platform.
What is also intriguing is that they will be operating further on an artist royalty mechanism for on-chain music so that formulators can get secondary royalties for their operation in permanence.
If a blockchain-based reiteration of Soundcloud existed, this would be the thing. Audius is a sharing platform and decentralized music streaming that enables music formulators to upload their tracks while listeners, on the other hand, can discover and stream new music.
What makes Audius a special music crypto project is that it incorporates both Solana and Ethereum blockchains and has an added NFT characteristic that allows creators to portray (or show off) their NFT collections. Musicians that have utilized this feature involve Linkin Park’s Mike Shinoda and Disclosure.
Catalog crypto music is a really impressive, aesthetically pleasing music-only NFT channel powered by the larger medium-agnostic Zora NFT platform.
It needs just a few clicks to find something that sounds good to your ears. The vinyl artwork and minimal and clean navigation make Catalog fuss-free and also an enjoyable listening experience.
For formulators, Catalog has been extra considerate in its music-focused characteristics. Artists can determine shared royalties and revenue and even select to offer their fans a slice of the pie. Interesting use scenarios have been artists crowdfunding for an album along with royalties distributed to funders along with personalized recordings, where bidders are offered creative control on how the song turns out in the end.
A strong competitor in the scene is Emanate. Emanate is still receiving ground with a ton of characteristics in the guideline about to come out, but it looks to already have a highly passionate team of electronic music artists rallying across the cause. It even carries its own $EMT token and an internal Stablecoin operating on the EOS blockchain.
As you can derive from the above chart, Emanate is searching to integrate many elements that Web3 artists are searching for: fair payment for streaming of music, metaverse compatibility, and on-chain rights registration. We think musicians are tired of receiving chump change from web2 streaming entities, and a model like Emanate’s could be the blueprint for many other music ecosystems.
Another really neat website, Nina, is a recently released music crypto project that reminds us of a Bandcamp in the making.
But unlike Bandcamp, which is owned by a centralized entity, Nina is a completely decentralized service operating on the Solana blockchain. This might not imply a lot at first, but it implies that artists are able to receive 100 percent of their direct sales for one. Another is that artists will never function at the risk of being de-platformed.
The blockchain and crypto space has extended to new heights. Even the music industry is no exception. We have already heard about music NFTs, but now we have also seen the various music crypto projects that are prevalent in the recent market.
Check out our new platform 👉 https://thecapital.io/
Blockchain Based Music Projects: Top 5 Platforms to Consider was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
This article is strictly for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. CryptosOnline.com does not provide investment, tax, legal, business or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any loss or damage caused or alleged to be caused by, or in connection with, the use of or reliance on any content, goods, services or opinions mentioned in this article.
#Bitcoin #Crypto #Cryptocurrency