The new streaming and NFT platform Myx is on a mission to give back music distribution control to the artist. It bridges the gap between artists and fans – empowering creation, collaboration and connection.
Built with blockchain technology, Myx offers decentralized streaming. This essentially means artists on the platform can earn up to three times as much from streaming as Spotify, with uncapped revenue potential.
Furthermore, artists can release unlimited tracks and collections as one-of-ones or multiple-edition NFTs on Polygon. What’s more – the NFTs will be automatically available on OpenSea. As a result, artists have the opportunity to generate income from secondary sales.
Music NFTs on Myx include proof of authority and digital signature. In addition, files are encrypted with the highest security and stored with IPFS to protect against piracy.
Artists can use the platform to collaborate with other artists. The Myx feature “Pod” enables co-writers to collaborate and receive royalties proportional to their Pod ownership. Furthermore, Pods enables fans to invest in their favourite artists and earn alongside them.
Harrison $First, one of over 150 artists already using the platform, said, “The most fascinating thing about Myx at this stage seems to be their Pod feature. I think this will give artists the opportunity to turn their music into a high commodity asset.”
Myx is currently in a soft launch phase, with streaming scheduled for launch in the second quarter of 2022. It joins a list of other blockchain-based music platforms that are rapidly emerging as serious competition for traditional streaming platforms.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, make your own research prior to making any kind of investment.
