NFT Marketplace
Multi-Chain, Multi-Functional NFT Marketplace
Last updated
Multi-Chain, Multi-Functional NFT Marketplace
Last updated
MeMusic’s NFT marketplace will have several functionalities and features that separates itself from its competitors for user acquisition. Our NFT marketplace is fundamentally different when compared to the NFT giants such as OpenSea, Rarible, Mintable, and more. Our focus with the marketplace is to create a seamless service that simplifies the onboarding, listing, and trading process for both users and sellers. MeMusic’s goal is to create a ‘boutique-NFT’ shop where we trade off the decentralisation for the quality.
We believe that Artists should be able to select where their NFTs will be publicly issued and stored. We are creating an easy multichain NFT marketplace where the artists can simply click on any blockchain type supported to mint their NFTs.
Artists can utilize NFTs into various ways on the MeMusic platform. However, when the artist decides to initially offer their NFTs, they have several options to customise the offering more unique.
The ‘NFT Premier’ is a novel method of introducing initial music to the fans. Artists can not only exclusively allow NFT holders to stream their NFTs for a select period of time, but also raise funds for their song or album (NFT).
Part of the challenge with the music NFT marketplace is onboarding mainstream artists and their tracks. There are no benefits for mainstream artists to provide a wholesale of a track that will generate in millions based on streaming royalties. However, based on our market research, artists could have the willingness to provide fractional percentages of their main tracks. This willingness can convert into fractional NFTs on MeMusic.
When artist initially offer their tracks on MeMusic, they can intuitively select to divide the ownership with multiple users. Artists can offer a fractional ownership through either an initial auction or initial purchase. When users stake (delegate) their NFTs on MeMusic, users will be able to collect royalties based on their ownership.
