Sounding the Future: How Music is Evolving in the Digital Age - Industry Examples 2/2

Welcome back for more! If you enjoyed reading about all these exciting music-related Web3 use cases in the first part of our article, you will be excited to hear that we kept some of the most interesting ones for part two!

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Industry Examples - Part 2/2

1. Royal.io

Royal.io is a groundbreaking platform in the music industry that utilizes blockchain technology, specifically NFTs (non-fungible tokens), to create a new model for music ownership and investment. Here's a summary of how Royal.io is innovating in this space:

Core Concept of Royal.io

• Ownership of Music Rights: Royal.io allows fans to own a piece of their favorite music by purchasing NFTs that represent a share of the rights in a song. This is a significant shift from traditional music consumption models.

• Income from Streams and Royalties: By owning these NFTs, fans can earn a portion of the income generated from the song, such as streaming royalties. This model empowers fans to not only enjoy the music but also financially benefit from its success.

• Direct Artist-Fan Connection: The platform fosters a closer relationship between artists and their fans. Artists can offer exclusive access, experiences, or content to NFT holders, enhancing fan engagement.

Key Features and Services

• Diverse Artist Participation: Royal.io features music from a variety of artists, ranging from emerging talents to established stars, providing a wide range of investment opportunities for users.

• Transparent and Secure Transactions: The platform ensures secure and transparent transactions using blockchain technology, making the process of buying, selling, and owning music rights straightforward and reliable.

• Accessible Investment Opportunities: Royal.io democratizes music investment, making it accessible to a broad audience, not just industry insiders or wealthy investors.

• Community Building: The platform encourages community building among fans and artists, creating a new ecosystem within the music industry.

• Integration of Technology and Art: Royal.io combines the latest blockchain technology with creative artistry, showcasing how technology can enhance and redefine the music experience.

In summary, Royal.io is pioneering a new way for music to be owned, enjoyed, and monetized, leveraging the power of NFTs to create a unique and mutually beneficial relationship between artists and fans. This innovative approach could potentially redefine the economics of the music industry, offering artists a new avenue for revenue and fans a novel way to engage with and invest in the music they are passionate about.

2. Opulous

Opulous is a platform that has innovatively integrated Non-Fungible Tokens (NFTs) into the music industry, offering a unique approach to music copyright and financing for musicians.

• Music Copyright NFTs: Musicians can mint their music works into music copyright NFTs on Opulous. These NFTs are tied to the copyright of the music itself, allowing buyers to own a portion of the music's copyright and earn royalties as the music is played on major platforms like Spotify or Apple Music. This model offers a direct financial benefit to both musicians and NFT holders, as it creates a new revenue stream outside traditional music industry channels.

• DeFi Financing for Musicians: Opulous also features a decentralized finance (DeFi) component that provides musicians with an alternative financing option. Musicians with stable royalty incomes can apply for loans by staking their music copyrights off-chain. They can borrow up to an amount equal to their 12-month royalty income at interest rates as low as 4%. This system offers a new financial model for artists to leverage their existing works for funding without relying on traditional bank loans.

• Trading Platform for Music NFTs: The platform allows for the trading of music NFTs, enabling the flow of music copyrights in a more flexible manner. This effectively replaces the role of traditional copyright dealers with NFTs and smart contracts, allowing for a more dynamic market.

• Token Economics: Opulous operates on the Algorand blockchain and supports Ethereum and BNB Chain. The native token of the platform, $OPUL, serves as a means of payment for transactions, including trading NFTs.

• Impact on the Music Industry: By incorporating NFTs and DeFi, Opulous aims to solve several problems faced by musicians in the traditional music industry, such as the disproportionate distribution of income and the challenges of securing financing. This platform empowers musicians by giving them more control over their works and finances, thereby fostering a more equitable ecosystem for music creators and fans.

3. Audioglyphs

Audioglyphs are a unique form of NFTs (Non-Fungible Tokens) that innovatively blend audio and technology. Each Audioglyph is a randomly generated, infinite audio NFT created using on-chain Pixelglyph data. What sets Audioglyphs apart is their ability to synthesize a unique, endless stream of music that can be played directly in a web browser at lossless quality.

The concept behind Audioglyphs offers a new perspective on the future of music. Instead of the traditional approach of publishing statically recorded songs with limited access, Audioglyphs allow artists to create infinite variations of music. This approach opens up new possibilities for music exploration and ownership, as listeners can own a unique version of a musical piece.

Audioglyphs also signify a step towards open technology in the music industry. There are plans to open source the core technology used by Audioglyphs for managing and embedding audio processing on the web. This initiative aims to provide artists with more tools to create and publish generative music.

Furthermore, the project has a focus on sustainability, with a commitment to offset the carbon emissions from minting the NFTs. This is done through a donation supporting the Devarahipparigi Wind Power Project in Karnataka, India.

The project is built on the Ethereum blockchain, offering a collection of 10,000 unique items. It has gained significant interest, with a large number of owners and trading activity in various NFT marketplaces.

In collaboration with artists like Gramatik and Luxas, Audioglyphs has also launched Synthtopia, a fully generative NFT music project. Synthtopia utilizes the Audioglyph digital audio workstation (DAW), a groundbreaking tool enabling the creation and playback of generative music in a web browser.

This combination of technology, art, and sustainability illustrates the evolving landscape of digital art and music, showing how NFTs can be used creatively beyond just visual art.

4. Ape Drops

Ape Drops is an initiative that focuses on offering unique NFTs (Non-Fungible Tokens) to the community, especially those involved with ApeCoin ($APE). The project has been responsible for releasing a variety of NFTs, including two mixtapes from Snoop Dogg, which were featured on their platform, apedrops.xyz. These NFTs are purchased using $APE, the native currency of the ApeCoin ecosystem.

The Ape Drops team aims to make their platform a central hub for artistic expression within the $APE community. This involves collaborations with artists, designers, musicians, and other creatives. The project encourages contributions from community members, regardless of their social media following, emphasizing the importance of quality and creativity.

One of the unique aspects of Ape Drops is the diversity of the content they offer. This includes not only music but also digital art and potentially items for use in the metaverse, like 3D clothing designs and wearables. The project is positioned to capitalize on the growing interest in the metaverse and digital fashion, offering a platform where artists can release exclusive collections related to the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC).

The Snoop Dogg Ape Tracks NFT collection is an example of what Ape Drops offers. This collection features digital artwork stored on the blockchain, with recent sales indicating active interest in these NFTs. The collection showcases the potential of NFTs as a medium for artists to monetize their work and for collectors to own unique digital items.

In essence, Ape Drops represents a new wave of NFT projects, focusing not just on digital art but expanding into music and potentially other digital assets, offering a unique blend of content for collectors and enthusiasts in the NFT space.

5. Gala Music

Gala Music is an innovative platform in the digital music space, utilizing non-fungible tokens (NFTs) to redefine music distribution and consumption. It's a part of the Gala Games ecosystem, which has expanded from gaming into music, offering a music-focused NFT and streaming service.

One of the key features of Gala Music is its integration of Player Music Nodes. These nodes function within the Gala Music ecosystem, streaming NFT tracks. Owning a Player Music Node, priced at $1200 in GALA token, grants users the possibility of receiving free NFT track drops from new releases. Importantly, these nodes can't be sold or transferred once purchased, and there's no limit to the number of Player Nodes available.

Gala Music also introduces an interesting tokenomics model. For each track played, $0.10 worth of Gala Music Token is minted. This amount is then distributed among various stakeholders: 45% to all owners of the track, 10% to all nodes on the music network, and 5% to the specific node playing the track. The artist receives the remaining 50%. This system creates a unique economic model for music streaming and ownership.

The platform had a notable collaboration with Snoop Dogg, launching the first Gala Music NFT, Snoop’s Stash Box. This release highlights the potential of Gala Music to attract big names and significant releases in the music industry.

Gala Music represents a blend of blockchain technology and music, offering a decentralized platform where music can be hosted, shared, and enjoyed. This approach not only benefits artists by providing them with a new avenue for distributing their music but also offers listeners a novel way to engage with and support their favorite artists.

6. Arpeggi Studio

Arpeggi Studio is an innovative platform in the blockchain and music technology space. It's a Web3 music-making startup that has gained significant attention and funding, including a $5.1 million seed round led by notable investors like a16z crypto, Steve Aoki, 3LAU, and others.

The standout feature of Arpeggi Studio is that it's the only on-chain digital audio workstation (DAW) available. This unique aspect allows musicians and creators to compose and mint their songs as fully on-chain NFTs (Non-Fungible Tokens). By integrating blockchain technology, Arpeggi Studio enables musicians to take full advantage of the transparency, security, and ownership that blockchain provides.

Arpeggi Labs, the company behind Arpeggi Studio, aims to revolutionize the way music is created and owned. They emphasize ensuring proper attribution to creators when a sound is used, changing the traditional dynamics of music creation. The platform allows for the creation, upload, publishing, and exploration of sounds and songs, which other musicians can then use for remixing and sampling.

Moreover, the platform not only focuses on changing the ownership dynamics of music but also the creation process itself. By allowing artists to promote their music for creative reuse rather than restricting it, Arpeggi opens up new possibilities for collaboration and innovation in the music industry.

7. Sound.xyz

Founded in 2021, Sound.xyz offers an on-chain music platform that allows musicians to upload their songs and sell them as NFTs. This approach offers a new revenue stream for artists, particularly those with smaller followings who might struggle to earn significant income through traditional streaming platforms.

The startup has raised significant funding to support its mission, including a $5 million seed round led by Andreessen Horowitz and a further $20 million in Series A funding. This financial backing underscores the potential of Sound.xyz's approach to reshaping the music industry's economics.

One of the unique features of Sound.xyz is its "Listening Parties," which enable artists to release new songs tagged with NFTs. This feature allows artists to create limited-edition NFTs that fans can purchase, providing a new level of engagement and ownership experience. In addition to financial support, these NFTs also offer fans a sense of community and connection with the artists.

In its first year of operation, Sound.xyz paid out $5.5 million to artists, reflecting the significant potential of NFTs in the music industry. The platform is open to all artists, allowing them to retain 100% ownership of their music. Artists can mint NFTs on the Ethereum mainnet and Optimism, a scaling network.

Sound.xyz aims to become a central hub for music discovery, offering free streaming of tracks while also allowing fans to "collect" them by purchasing NFTs. This approach balances accessibility with new monetization strategies, potentially benefiting both artists and fans.

8. Unchained Music

Unchained Music is a digital music distribution platform that leverages Web3 and blockchain technology, including non-fungible tokens (NFTs), to offer unique services to artists and musicians. The key feature of Unchained Music is its promise of completely free digital music distribution, a model that sets it apart from traditional music distribution services.

Here are the main aspects of how Unchained Music operates and uses NFTs:

• Free Distribution with Web3 Integration: Unchained Music provides artists with the ability to distribute their music to various streaming platforms like Spotify, Apple Music, Amazon, and over 220 other services without any upfront fees. They maintain a focus on empowering independent music with the integration of Web3 technologies.

• Royalty Capture and NFTs: The platform uses a protocol called Charged Particles, which allows NFTs to contain digital assets such as music royalties. This integration with the DeFi platform AAVE enables these assets to be staked and earn interest over time. Unchained Music employs a "royalty capture" mechanism where earned royalties are locked in AAVE for a set period, generating interest. The majority of this interest goes to Unchained Music's treasury, while artists receive 100% of the principal royalty amount.

• Support for Emerging Technologies: Unchained Music is not just limited to traditional music distribution but also embraces emerging technologies like AI for music mixing and mastering. This approach aims to provide a comprehensive set of tools for artists, ranging from track preparation to promotion.

• Artist Empowerment: The platform's goal is to empower artists by allowing them to keep 100% of their royalties and providing tools and knowledge for success at all stages of their career. This approach is designed to help artists, especially independent ones, to compete with larger entities in the music industry.

• Community and Education: Unchained Music emphasizes building a community of musicians, producers, and industry veterans. They also offer an academy section for learning about the music business, songwriting, production, NFTs, and Web3.

In summary, Unchained Music positions itself at the forefront of the intersection between music and blockchain technology, providing innovative solutions for music distribution, royalty management, and artist empowerment through the use of NFTs and DeFi strategies.

9. AnotherBlock

AnotherBlock is an innovative music NFT platform that is transforming the way music streaming royalties are distributed and owned. It operates by allowing users to buy NFTs, which are essentially shares in a song. These NFTs function as ERC-721 tokens with a custom ID, where the ownership percentage of each song is stored on the blockchain.

When a user purchases an NFT from AnotherBlock, they receive rewards proportional to their ownership stake. These rewards include not only a share of the streaming royalties based on the song's performance but also a real-world legal contract that specifies the terms of the streaming rewards and guarantees real-world ownership for the NFT holder. Additionally, buyers get unique artwork created by NFT artists and a custom soundtrack.

AnotherBlock integrates with Superfluid, a platform that facilitates streaming song rewards. This integration allows for the streaming of stablecoin rewards to NFT holders, although currently, the company streams its utility tokens, known as anotherblock tokens (ABT). These tokens are awarded to users for participating in the AnotherBlock ecosystem and can be burned in the future to redeem merchandise and other items through the website.

This model is seen as a way to shift the balance of power in the music industry, making music rights ownership more accessible to the public and supporting musicians in a more equitable manner. AnotherBlock's approach allows fans to become, in a sense, their own record label by investing in music rights, while also supporting musicians directly.

10. Tunedly

Tunedly is an innovative platform in the music industry that has integrated blockchain technology and NFTs (Non-Fungible Tokens) into its operations. Unlike traditional music platforms, Tunedly focuses on creating an interactive and inclusive experience for both artists and listeners. It offers a unique approach where songs are streamed anonymously, without revealing any identifying information like the artist's name or streaming numbers. This format ensures that listeners judge songs solely on their musical quality, free from any biases related to the artist's popularity or commercial success.

Listeners on Tunedly's platform play a crucial role in the discovery process of new music. They are given the power to vote for songs they believe could become hits by awarding them "stars". The first 1,000 users who star a song that Tunedly later signs to a publishing deal are rewarded with TunedCoin, a cryptocurrency created by Tunedly. Furthermore, Tunedly issues an NFT for each song they sign, allowing all star-givers to receive recognition for their contributions.

The TunedCoins and NFTs serve a significant purpose beyond mere tokens of appreciation. They allow listeners to share in the financial rewards from the success of the songs they helped discover. Tunedly allocates 50% of the net publisher royalty income generated by the signed song to be distributed among the NFT holders of that song, based on their TunedCoin holdings. This model creates a collaborative ecosystem where artists, listeners, and Tunedly all benefit.

TunedCoin (TUC) is built on the Polygon blockchain, a second-layer Ethereum smart chain, and is limited to a total supply of 21 million coins. The scarcity of TunedCoin, coupled with the expanding array of royalty-generating NFTs, creates a cycle of increasing value as more songs are signed and more listeners engage with the platform.

Tunedly not only democratizes the music discovery and A&R (Artists and Repertoire) process but also incentivizes music fans through this blockchain-fueled reward mechanism. By enabling music consumers to vote for songs they like and rewarding them with cryptocurrency and a share in future royalties, Tunedly is redefining the relationship between artists, fans, and the music industry.

In summary, Tunedly is leading the way in using blockchain and NFT technology to revolutionize the music industry, fostering an environment where independent artists can gain exposure and music fans can actively participate in and benefit from the success of the music they help discover.

11. Autograph.io

Autograph.io is an innovative platform in the world of Non-Fungible Tokens (NFTs), co-founded by NFL legend Tom Brady in 2021. While not exclusively targeting the music industry, this platform distinguishes itself by offering digital assets signed by some of the greatest names in music, sports, entertainment, and culture, thereby revolutionizing the concept of fandom and collectibles. Users have the unique opportunity to purchase, sell, and collect digital memorabilia that is not only endorsed by their favorite celebrities but also comes with the assurance of authenticity and ownership provided by blockchain technology​​.

Located in Los Angeles, Autograph.io leverages the Ethereum and Polygon blockchains to offer a decentralized ecosystem where fans can own a piece of their favorite celebrities in the form of digital, tokenized items. The platform is not limited to sports figures but extends to include iconic brands and legendary names from various entertainment sectors. Celebrities like Tiger Woods, Rafael Nadal, and The Weeknd have participated, offering items ranging from digital figures of iconic moments to limited edition magazines and interactive posters​​​​.

What sets Autograph.io apart is its commitment to enhancing the fan experience through technology. The platform has introduced Autograph Signature Experiences, offering fans exclusive access to events, merchandise, and unique experiences with their favorite stars. This initiative reflects a broader vision to redefine engagement between celebrities and their audiences, making it richer and more interactive.

Autograph.io's approach to NFTs emphasizes not only the potential for new forms of digital collectibles but also the platform's role in fostering a deeper connection between celebrities and their fans. By combining the allure of exclusive content with the security and transparency of blockchain technology, Autograph.io is at the forefront of a shift towards a more immersive and meaningful fan experience in the digital age.

12. The Husl

The HUSL is a pioneering platform in the music industry, leveraging NFTs (Non-Fungible Tokens) to offer a new paradigm for music distribution, ownership, and fan engagement. It operates as a decentralized music NFT marketplace on the Ethereum blockchain, facilitating the creation, sale, and collection of unique music-related digital assets. These assets range from songs and albums to artwork, tickets, and digital merchandise, providing artists with an innovative avenue to monetize their work directly and engage with their audience on a deeper level​​.

Music NFTs on The HUSL can encapsulate various forms of musical content, allowing artists to sell their works as one-of-a-kind digital items. This model not only offers artists an alternative revenue stream, especially crucial in the wake of challenges like the COVID-19 pandemic but also democratizes the music industry by removing middlemen, thus ensuring that creators receive a larger share of the profits. Fans, on the other hand, gain access to exclusive content and experiences, fostering a closer connection with the artists they admire​​.

The HUSL also encourages greater collaboration within the music community. By embracing the remix culture, it enables users and fans to alter or combine pre-existing content into new forms. This collaborative spirit is further enhanced by the platform's integration with the metaverse, where artists can monetize NFT remixes by creating virtual venues on digital land for performances and exhibitions. Such innovations not only open up new creative possibilities but also offer fans unique, immersive ways to experience music.

Ownership and copyright in the context of music NFTs can vary. While purchasing a music NFT does not necessarily grant the buyer the copyright to the music, some artists may choose to include licensing or copyright as part of the NFT sale, providing buyers with the right to use the music for their own purposes. This aspect underscores the need for buyers and artists to be aware of the legal implications of creating, selling, and purchasing NFTs​​.

In essence, The HUSL is at the forefront of leveraging blockchain technology to revolutionize the music industry. By providing a platform for artists to directly monetize their work and interact with fans, and offering fans exclusive access to content and experiences, The HUSL exemplifies the potential of NFTs to transform music distribution and consumption for the digital age​​​​.

Thanks for joining us to see how NFTs are changing the game in the music world. We've looked at how big names and fresh startups use these digital treasures to shake things up and do things differently. This journey shows us how NFTs are helping musicians and fans connect better, making it simpler to own unique music pieces and mixing the old ways of music with new digital steps. To learn more about the power of NFTs and get what this all means, click to read our full article. This will give you a clearer picture of how NFTs are starting exciting changes and leading us into a new digital music era.

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