MusicArt, a new non-fungible token (NFT) platform, combines blockchain, NFT technology, and digital art trading for music artwork enthusiasts, the company announced Tuesday (January 25).
The project was launched by three music industry executives with the support of an independent artist portal. Jama music And aurovine.
With each release, MusicArt runs on the BSV blockchain, which uses Ethereum’s “1 / 10,000” energy. In addition, it works “on-chain”. That is, all NFTs and other materials are created as STAS tokens and stored on the blockchain.
In the release notes, the service will immediately pay royalties to creators and artists. This is because, unlike other service mechanisms, royalties are often managed manually and paid sporadically.
MusicArt also allows users to trade directly with their wallets and eliminates intermediaries.
“MusicArt is a unique new NFT platform focused solely on celebrating music-based art and images, visual without fear that musicians will be lost in the sea of unrelated genres of NFTs on other platforms. It’s a great environment for exchanging art, “said Peter Ruppert, CEO of Music Art.
According to the release, the service will allow creators to earn money from the first NFT sale and incur an immediate royalties of 10% or 20% on resale of the service. It also uses several types of cryptocurrencies to handle your gas charges. This release states that it will help make NFT trading more accessible.
The platform will reportedly include works by both old and new artists, and will come with works of art rock icons such as Mike DuBois, Ioanis and Carl Ferris at launch.
PYMNTS recently wrote that the NFT epidemic is on the rise and YouTube is about to take part in the action.
reference: YouTube can add NFTs for creators
Popular video sites say they may add NFT functionality for video creators. This will be such a first venture. However, as of January 25, there are no current plans.
“We are always focused on expanding the YouTube ecosystem, helping creators and fans take advantage of new technologies such as NFTs while continuing to enhance and enhance what they can experience on YouTube,” said CEO. Susan Wojcski writes in a letter to creators every year. ..