In the digital age, blockchain technology is transforming many industries, and music and entertainment are no exception. The combination of cryptocurrencies in the music and entertainment industry has opened up a world of exciting opportunities to change the way we consume music, support our favorite artists, and explore new forms of entertainment.
In this post, we will introduce five platforms that have adopted blockchain and NFT technology to change the music industry. Blockchain and immutable tokens will revolutionize the music industry, allowing artists to verify the copyright of their songs and directly monetize their music.
What platforms use BLOCKCHAIN and NFT for music?
AUDIUS
Audius, also known as Blockchain Spotify, is a decentralized streaming platform based on the Solana network. On this platform, any artist can freely publish and share their work with NFT tokens. You can also communicate directly with your fans and followers.
It is a blockchain music streaming platform created as a space for artists to communicate directly with their fans. In addition, they directly monetize their work thanks to immutable tokens. Therefore, the goal is to give power back to artists and content creators. 3LAU, Rezz and Deadmau5 are some of the most popular artists in the Audius ecosystem. Last March, 3LAU sold over $11 million worth of NFTs for their “Ultraviolet” vinyl collection.
Audius created its own label, AUDIO, to create and support a digital economy between users and artists. In this way, platform clients can use native tokens to pay artists. AUDIO tokens can be traded on exchanges such as Binance and Crypto.com for liquidity.
According to Audius, more than 6 million users come to the platform every month to listen to music from around 200,000 artists. In August, the streaming blockchain platform allows users to grow their favorite artists on popular apps.
SOUND
Sound is another streaming platform that uses blockchain to empower artists and consumers. Like Audius, we strive to find balance in the music industry so that all artists benefit equally. The platform allows artists to release their songs as exclusive NFTs. As a result, customers can support the work of their favorite artists. In sound mode, NFT song owners can have their own unique voice over their tracks and creations.
Additionally, thanks to blockchain's immutable and transparent history, users will be able to easily prove how long they have been a fan of an artist. NFT soundtracks also serve as membership tickets for the community of Discord users. Hosts exclusive events, interactions and collaborative projects with artists every week.
Unlike previous versions, Sound is not a platform for everyone. The website notes that scalability is a major limitation. But it says it strives to open its doors to all artists, songwriters, producers, curators and music collectors who want to join its community.
ONEOF
World famous artists like Whitney Houston and Pitbull belong to OneOf. Although the platform launched less than a year ago, it uses NFTs to connect people, artists and collectors, capturing the best music and lifestyle moments on the blockchain.
On this platform, artists can create entire NFT collections of their songs or release exclusive, limited edition or one-off NFTs. According to the platform, the latter is mainly used by artists to offer their fans unique experiences, offer unreleased music and sell VIP concert tickets. Last November, Whitney Houston showed off her song, which she released as an NFT when she was 17 years old.
