Top 3 NFT Platforms in the Music Industry
Here to change the way artists and fans interact forever, cryptocurrencies and blockchain technologies are touring the music industry — from digital ticketing to distribution, NFTs are taking over. Let’s take a closer look at the four main NFT platforms: Centaurify, MusicArt, and Meteora.
centaurify is a music NFT universe that helps music lovers connect with their favorite musicians on a new level, through NFT ticketing, live events and official merchandise. Centaurify aims to revolutionize the music industry by taking control of scalpers and giving it back to artists through the power of blockchain technology.
Today, scalped tickets go for wildly inflated prices, with very little of their original sales going to artists. With the live event market projected to be 10x by 2025, massive amounts of resources are being stolen from those who really deserve them. Centaurify is fighting back with tokenized tickets specifically designed to prevent scalping by providing complete transparency, empowering artists.
Another hugely important element is the official merchandise that musicians produce, an essential part of building a relationship between artist and fan. While fans can collect cool memories of concerts they’ve attended or artists they support, musicians gain a new revenue stream that allows them to continue producing their art. As a fan, it’s important to wear their favorite band’s logo or symbol with pride, adding to a sense of belonging and knowing that other individuals feel the same way. Centaurify offers musicians the chance to sell their merchandise directly through their platform, eliminating additional middleman costs. At the same time, fans can confidently purchase merchandise knowing it will be original and directly support the artist.
While their platform is still in development, it has an impressive list of music and crypto partnerships and backers, including Cardano, Ethereum, Solana, and Polkadot.
Appropriate name MusicArt is a planet-friendly NFT marketplace focused on musical artworks. By introducing fans to artwork, first the songs, MusicArt gives music lovers a new way to discover music. This focus on artwork also reaffirms the importance of album covers and gives artists another way to make money by selling their visual output as NFTs.
All MusicArt NFTs are hosted on-chain and are part of a completely open market – NFTs can be transferred to external wallets or resold. Both auctions and fixed price offers are supported, giving artists and resellers the flexibility to sell what works best for their products.
Meteora is the NFT-based internet of music platform that brings listeners, artists and professionals together in one metaverse. Lunaris.core’s industrial layer-2 blockchain and protocol allow for instant and secure transactions across different blockchains, keeping the network scalable and the music going.
In addition to the freedom to own, sell and trade music NFTs, Meteora offers listeners several unique benefits tuned to maximize their listening experience – just to name a few: high-quality streaming, a state-of-the-art app and an AI module that provides excellent listening suggestions.
With full publishing control, artists enjoy a range of features that really empower them and give them the opportunity to get the most out of their creative work. Artists can choose between copy-based, streaming, master sale and subscription models, while setting their own prices. After they sell something, artists can make instant payouts or grow their account profits in the form of Meteora’s $MRA token.
Finally, Meteora is also suitable for professionals and creates a shared ecosystem for everyone involved in making and enjoying music. Meteora provides all the tools needed to create labels, manage rights and royalties, sell production services, manage events, manage licenses and more – everything professionals need to execute their projects.