NFT can be considered the closest to our lives and the most grounded blockchain products, with the fame of NFT, various NFT platforms have emerged in spurts. There are only one kind of art, such as Mozik, and some comprehensive ones, such as NFTMart, Showcase, DeFine Art, all of which are based on the use of decentralized blockchain and tokenization to give art creators a better income, but each of them has a slight difference. If we were creators, what kind of platform would we choose to publish ~?
The music industry has changed dramatically over the last few decades as the internet has changed the way we create and consume music. And new standards have emerged that have shifted control from the “headliners” to the people.
But this shift is not unique to the music industry either. In the digital age, almost any business transaction that takes place between a buyer and a seller has been revolutionized. Imagine how new cafeterias are now using tools like TripAdvisor or Yelp! to enable consumers to assess and rate the business.
With this newfound power, the music industry needs to keep things in balance. Because these changes are responsible for the rise and fall of musicians, record labels and corporations. Musicians are suddenly realizing that getting out of the corporate business comes with the daunting task of self-promotion and constant innovation.
Consumers now seem to have found new ways to consume music without the use of media-curated filters or big corporate-backed advertising. In turn, musicians need to understand and learn how to become their own bosses to compete for these “attractions” on their own.
The pain points of the music industry
- Most artists make very little money
Most music artists are willing to participate in this long race and believe it will eventually pay off. Unfortunately, for those looking to grow their careers by releasing original music, this does not guarantee financial growth.
Music is everywhere today and can be consumed more easily than ever before. This opens up more and more new opportunities for musicians every day, and the music industry can grow rapidly.
So why should musicians try to make money from it? If the Internet is portrayed as a revolution, why aren’t artists profiting from these changes?
A recent study by Citigroup Group shows that artists received only 12 percent of the $43 billion in revenue generated through the music industry in 2017. According to the statistics, while the music industry as a whole is still profitable, its major players, the music artists who contribute their talents, are being left behind.
How much profit music artists make on Spotify, the largest music streaming platform, is another proof of this fact. The company pays between $ 0.006 and $ 0.0084 to rights holders. To make $1,000 a month, it must be listened to at least 120,000 times. And this applies only if the artist is the sole rights holder of the track, but this rarely happens.
- Long-term deals are history
It used to be that promising musicians had more time to grow, try and even experience failure before taking a break. The label would sign a few records and during that time, the artist had a chance to mature. Today, on the other hand, the music industry demands a full track.
Also, because music wasn’t a big deal for money back then, music studios and record labels sometimes bet on outsiders and innovators. This is how we know people like Frank Zappa.
- Industry monopolies and paid promotions
As with any market dominated by a few key players, the music industry remains difficult to enter as an “outsider”.
As the popularity of SoundCloud rappers and the loss of popular songs are evidence, the Internet should democratize mass access and distribution. Nonetheless, gaining visibility and success is largely dependent on luck, opportunity and extraordinary marketing.
So how will NFT disrupt the music industry?
NFT is stored on a blockchain, similar to cryptocurrencies such as Bitcoin and Ether. However, NFT is unique in that two digital objects may never be exactly the same. nft can consist of images, music, artwork, gifs or even physical items.
Before the outbreak of NFT, most music artists profited from touring, ticket sales and merchandise. Now, NFT is seen as a means of bridging the income gap. For example, Grimes, a popular musician and visual artist, sold a series of NFT digital art. Her digital artwork sold for a total of $6 million.
NFT could completely change the way the music industry works, thus bringing power into the hands of the creative artists who drive the industry. This would allow artists to showcase their work directly on the blockchain without the need for expensive marketing.
Artists have the potential to offer exclusive music videos, behind-the-scenes information and album covers. And, they can always release their albums as NFT albums.
Mozik, the music NFT platform
Mozik is a decentralized music NFT platform designed to create a healthier, fairer music ecosystem.
Through the decentralized NFT platform, Mozik uses blockchain technology to register revenue through music rights, superstar IPs, celebrity traffic and IP derivatives on the IP chain. All participants in the music ecosystem, including creators, publishers, customers and fans, can participate fairly. Through Mozik’s platform, artists will be motivated to create more and better quality music. By reducing distribution costs and increasing fan engagement, all participants can share in the rewards and create a healthier, more equitable music ecosystem.
As the music industry will also continue to rely on streaming services and other forms of revenue generation, it is only fair that artists should also profit from them.
NFTMart strives to be the most professional decentralized NFT trading marketplace in the world. It is divided into two parts. The first part is nftmart.network, which is an open, decentralized NFT public chain mainly used for issuing NFT products and trading data on the chain. The second part is the nftmart.io website, which provides a user-friendly transaction scenario for users to upload or trade NFTs easily and quickly.
NFTMart is developed based on the underlying architecture which is naturally combined with Polkadot cross-chain ecology. Therefore the whole network cross-chain model will bring infinite possibilities for NFT trading.
In addition, because NFTMart’s NFT professional blockchain development cost is low, thus solving the problem of high transaction cost and inefficiency in the Ethernet network. Moreover, NFTMart is safe and secure and can be upgraded without forking. The coordination between the public chain layer and the business layer can also make it easier to provide services.
Due to the decentralized nature of NFTMart, it will eventually shift to community autonomy after the growth phase. The advanced allocation mechanism protects the interests of multiple parties, while offering different trading models (Dutch auction, UK auction, candle auction, etc.) to provide merchants with more selling options.
- What is Showcase?
Showcase is a mobile application that combines marketplace and social media features. And lesser influencers can use the NFT Creator tool to create NFT “badges”, share links to fans on social media and earn revenue by selling the badges. Fans, on the other hand, receive digital NFTs with artwork that they can display on their profiles or trade.
Influencers can donate a portion of the sold badges to various charities and display them publicly. While Showcase aims to promote mass adoption and ease of use, it retains fully decentralized ownership of non-hosted NFTs.
- Market Access Strategy
On the token side, Showcase is working with a marketing team headed by Garlam, a crypto-influencer and well-known figure in the field who promotes tokens. On the product side, they have been building a relationship with influencer for over a year and have pre-registered hundreds of influencer to use the app.
Showcase will also be working with influencer and trying to get them to join the platform, introduce them to NFT and help them create their first badges. This is an educational process for non-cryptographic influencer, many of whom currently sell t-shirts or receive donations.
- Product Viability
The target market is to monetize there influencer. This includes sponsored posts, custom merchandise platforms and donation platforms.
Showcase believes that the product is more beneficial to both webmasters and fans than existing profitable solutions. Influencers will earn more revenue than those who sell physical goods and pay for manufacturing and shipping costs. Fans can share their early adopter status with their friends and these are not limited by closet size. Therefore fans are more motivated to donate compared to donations. There is no doubt that the recent widespread public interest in NFT on social media will undoubtedly make the onboarding process easier for users and influencer. In terms of product design, the team researched existing marketing and social media applications and drew inspiration from them as well as their user experience.
Showcase is therefore different from the NFT art platform and should be seen as a digital form of collectible merchandise rather than premium art.
DeFine Art, Asia’s decentralized NFT platform, announced the official launch of DeFine Art, where all users can now exchange NFTs. DeFine will build on the existing marketplace to support the broader NFT ecosystem in Asia.
In conjunction with the official launch, DeFine has attracted renowned artists and influencer from Korea and China to produce NFT assets to be auctioned on its platform. Some of the initial collaborations include Korean contemporary artist and animator artist Mari Kim from South Korea, and social media star Bart Baker, who has 15 million followers on TikTok’s parent company Douyin in China. deFine claims that more top artists, musicians, influencers and creative talent from across Asia will enter the NFT world and access to its platform.
DeFine’s goal is to build the NFT ecosystem in Asia while establishing a premier Asia-centric NFT platform similar to other platforms such as Opensea and Nifty Gateway. The platform facilitates the convergence of real-world assets and blockchain technology in many ways, among them the tokenization of digital art, music and video, games, collectibles, and decentralized financial assets into digital assets. In addition, it functions similarly to a decentralized NFT marketplace with features such as auctions, NFT Initial Offerings (INOs), on-chain exhibitions, and DeFi modules that enable the tokenization of NFT asset tokens into more liquid financial assets. The platform will also support multiple NFT standards including Ether, Binance Smart Chain (BSC), Klaytn and FLOW.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/inventory-of-nft-platforms-mozik-nftmart-showcase-define-art/
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