After their testnet, MusicY main network, a revolutionary music NFT platform based on the Ethernet public chain, has been officially launched at 00:00 UTC on March 29. At the current stage, MusicY supports NFT assets in ERC-721/ERC-1155 format. The launch of the MusicY mainnet means bringing a more mature music NFT ecology, which allows MusicY to provide better resource utilization and user experience, thus attracting more users to join MusicY. In other words, MusicY brings a larger music NFT market.
MusicY is a music NFT trading platform available worldwide based on Ethereum+Web3 architecture. Artists can create and sell NFTs, musicians can release new music creations for sale as NFTs, and event organizers can sell tickets through NFTs. MusicY makes it possible to popularize NFTs, and it welcomes players who dare to step into the future.
MusicY builds a decentralized crypto music ecology governed by DAO community by integrating three elements: Music NFT Marketplace, Decentralized Finance (DeFi) and Social Finance (SocialFi). MusicY empowers the traditional music industry, allowing music artists, music lovers and music industry practitioners to fully enjoy the huge dividends brought by the crypto music economy.
At present, MusicY Music NFT platform musicians in-residence activities have been in full swing, the pairing of musicians and innovative music platforms will become another competitive trend in the music industry. In early March, MusicY announced that internationally renowned conductor and pianist Jimmy Chiang officially cooperated with MusicY in-depth, and became the first musical artist on MusicY platform. Jimmy Chiang has been invited to serve as a music consultant for MusicY, which creates a new, easy and flexible system for music artists to generate revenue. Music artists can mint music NFTs in minutes, record them through a “smart contract” and transfer ownership in seconds. Music artists are rewarded at every step of the process, and the entire process is clearly documented on the Ethereum blockchain and Web3.
MusicY also innovatively combines DeFi and DAO technologies into the digital collectibles ecosystem. The MusicY community aims to promote the use and value of MusicY NFT, while MusicY DAO community members are responsible for autonomous community governance, such as proposing, organizing voting and implementation; seeking collaborations to continue to expand the community and maintain a MusicY NFT fair trade; and inspire creators, collectors to continue to create, mint and trade MusicY NFT. The MusicY DAO community has a unique social approach where musicians and fans can communicate and share music. Music artwork will grow and expand in an environment where the MusicY DAO community continues to grow and support.
MusicY aims to establish a complete decentralized music commercial ecology, break the restrictions of time and space, expand the commercial use of music works anytime and anywhere, and show the possibilities of blockchain music commercial ecology.
