Soundverse-NFT Marketplace Platform for unpublished music
NFTs have become the biggest crypto phenomenon over the course of the year. But, usually, people focus on the visual arts’ involvement in the championing of NFTs. From shiny pixel art to fantastically-rendered 3D images, visual arts have certainly left their mark on the NFT scene. However, musicians are also beginning to understand the benefits NFTs can bring them. That’s why we created Soundverse — to be a platform that musicians can use to free themselves from the confines of record labels and middlemen. First, though, let me explain the vision behind Soundverse, and what it is we do.
The Problems Musicians FaceIt’s a well-known fact that, in the music industry, the record labels make the lion’s share of the profits off of album sales. What most music fans don’t know is that artists have their own “treasure troves” of unpublished songs that they keep unpublished to maintain control over some of their best work. Usually, this is so they can spice up their concerts with unknown or rarely-heard songs that are fan favorites when played live. Musicians do this to entice fans to come to more shows, which is where they earn up to 95% of their total profits. Musicians deserve more for all the hard work and passion that goes into making great music, and that’s where NFTs come in.
The Soundverse SolutionWe wanted to help artists reclaim the direct benefits of music copyright, which have been for so long in the hands of music industry middlemen. Since royalties go to the copyright holder, these middlemen make the profits through the years when these songs are used or played. Our goal is to create a platform, and community, that is involved with the creation and collecting of music NFTs. But, beyond just that, our vision is to allow artists to capture value and maintain control of their music copyright by allowing musicians to create NFT smart contracts for songs in their back catalog. Now, fans will have the power to directly invest in their favorite artists, while earning royalties based on the fraction of the copyright they hold. Artists can fund their endeavors, and fans become direct investors to their favorite artists. There’s much more to learn about our vision when we get into the details, which is why we created the Soundverse
light paper . If you’re interested in
Soundverse , you should give it a read.
If you’d like to learn more about NFTs, check out this article. Or, if what you read above got you interested in learning more about Soundverse, and to keep updated for the coming Token Generation Event (TGE), follow our socials (
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