JOOX, the music streaming behemoth that has made significant inroads into Asian online music streaming, is now partnering with MusicY, a music NFT platform that allows musicians to convert their core creative assets into NFTs that they can sell and give away to their community, much to the delight of artists whose earnings could skyrocket.
The crypto and entertainment communities, particularly the music community, will be delighted by this development.
MusicY enables musicians to convert their songs into NFTs, allowing them to earn more money and provide new experiences to their fans. In many cases, this revenue can exceed the royalties an artist would receive from streaming.
JOOX's core mission still remains giving musicians and fans true ownership of their music and communities. With MusicY's integration, web3-powered futures are more connected to current Web 2.0 social media realities.
According to an NFT network, $17.7 billion in collectibles, games, and visual artworks were traded last year. Even though the growth of NFTs and crypto has recently slowed, many people believe that the music industry will be the one to restart its upward trend.
In the near future, MusicY may include the use of non-fungible tokens (NFTs) for unlocking perks such as backstage passes, artwork, album covers, lyrics, or merchandise. JOOX sees this as a growing opportunity because popular artists like Miza and Glasstempo are collectors and early backers of MusicY's NFT movement.
The announcement comes at an exciting time in the music and blockchain industries, particularly in the streaming sector. Global top chart artists have been departing top-streaming platforms for being unsatisfied with remuneration for a long time. MusicY intends to support these musicians by providing them with the MusicY Musician Program, which reimburses artists for the gas fees they would otherwise have to pay to mint their "first" NFT.
Also, music artists keep up to 97.5% of primary sales and earn additional royalties each time a fan resells their collected NFTs by partnering with MusicY. In addition, as compared to other music NFT platforms, MusicY and JOOX offer better resources and access to a larger fan base.
Artists may link their digital wallet to MusicY Musician Program and begin minting their first NFT by simply visiting https://musicy.io/
Interested parties can learn more about the latest projects set to launch in the near future by following https://twitter.com/MusicYDao
Company：MusicY
Contact Person: Nicola
Email:Service2@musicy.io
Website:https://musicy.io/
Telephone:(+65) 6222 3333
City：singlish