Here to forever change the way artists and fans interact, cryptocurrencies and blockchain technologies are touring the music industry – from digital ticketing to distribution, NFTs are taking over. Let’s take a close look at the four major NFT platforms leading the way: Centaurify, MusicArt, and Meteora.
Centaurify is an NFT music 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 from scalpers, while giving it back to artists through the power of blockchain technology.
Today, scalped tickets are sold at massively inflated prices, with very little of their initial sale going to performers. With the live events market set to grow 10x by 2025, massive amounts of resources are being stolen from those who truly deserve them. Centaurify is fighting back with specially developed tokenized tickets to prevent scalping by providing full transparency, thus empowering artists.
Another extremely important element is the official merchandise produced by the musicians, an essential part of establishing an artist-fan relationship. While fans can collect cool memorabilia from concerts they’ve attended or artists they support, musicians gain another stream of income that allows them to continue producing their art. As a fan, it’s important to wear your favorite band’s logo or symbol proudly, adding to the sense of belonging and knowing that other people feel the same way. Centaurify will offer musicians the ability to sell their merchandise directly through their platform, eliminating all additional middleman fees. At the same time, fans can purchase merchandise with confidence knowing it will be original and directly support the artist.
Although their platform is still in development, it has an impressive list of music and crypto partnerships and backers, including Cardano, Ethereum, Solana, and Polkadot.
MusicArt, aptly named, is an planet-friendly NFT marketplace focused on musical artwork. Introducing fans to works of art first to songs, MusicArt offers music lovers a new way to experience music. Additionally, this emphasis on artwork restores the importance of album art and provides another way for artists to earn money by selling their visual productions as NFTs.
All MusicArt NFTs are on-chain hosted and part of a fully open marketplace – NFTs can be transferred to external wallets or resold. Fixed price auctions and listings are supported, giving artists and dealers the ability to sell what works best for their products.
Meteora is the NFT-based music internet platform that brings together listeners, artists and professionals in a metaverse. Its industrial-grade Lunaris.core blockchain and layer 2 protocol enable instant and secure transactions across multiple blockchains, keeping the network scalable and the music running.
In addition to the freedom to own, sell and trade music NFTs, Meteora offers listeners several unique benefits designed to maximize their listening experience – to name a few: high quality streaming, a state-of-the-art application and an AI Module that provides excellent listening suggestions.
With full publishing control, artists benefit from a set of features that truly empower them and empower them to get the most out of their creative work. Artists have the flexibility to choose between copy-based, streaming-based, main-sale, and subscription-based models while setting their own prices. After making sales, artists can either receive payments immediately or let their profits grow in their account in the form of Meteora’s $MRA token.
Finally, Meteora also caters to professionals, creating a shared ecosystem for everyone involved in creating and enjoying music. Meteora offers all the tools needed to create labels, manage rights and royalties, sell production services, manage events, administer licenses, and more. Everything professionals need to carry out their projects.