A long 4D article presents the tracks of the Web3 music platform.

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2021 will see more Web3 music platforms with bullshit. This article divides the competition between the Web3 music platform, divides the tracks into four categories according to the rules related to the music industry, describes the performance functions, and compares each function. . This list:

Track price and business model

Audius music sharing platform

Write NFT Pianity, Audio, Oneof platform

NFT Opulous, Royal, Rocki loyalty platforms

Eulerbits music creation platform, Melos Studio

Points of comparison

Track price and business model

According to the Global Phonetics Research Report 2021 by the International Phonographic Research Institute (IFPI), the global music industry is expected to generate a total of $ 21.6 billion in sales in 2020. Among them, digital media sales in Streaming grew once a year, becoming the growth engine of the entire music industry. Spotify, the world's largest music streaming platform, is now worth around $ 43 billion.

Additional context: "information industry" refers to all industries involved in the production and export of recorded music (data), including media streaming, offline streaming, sales physical files, etc. and is the topic of discussion in this article. The music industry mentioned below refers to the “closed music industry”. For example, "the music industry" has a broad scope that covers all industries that include music, including music software, hardware, and product development tools, which are not included. in the discussion.

The biggest problem with the music industry is that the incomes of music producers are too low and the middle class is eliminating significant incomes. According to a 2019 survey by music industry analysis companies Soundcharts, Spotify, Apple Music, and Google Play, they paid the developer between $ 0.003 and $ 0.005 per game, along with the music producers. Drum only receives 13% of the platform's total revenue, with 87%. . This is the beginning of the hands of streaming platforms and third-party companies such as record labels. In addition, the author of the publication rights belongs to a third party and the work cannot be shared for free.

To solve this problem, many musical works have sprung up in Web3 to directly connect with music producers and fans and break the integration of the middle class. In 2021, the popularity of Web3 music will continue and many new activities and funding will emerge. The market is still in its infancy, with broken models, minor jobs, and only two jobs with FDVs of over $ 1 billion. In addition, the design of the project is multidimensional, there are no industrial models and there is a lot of development. The author classifies business logic and major projects as follows:

According to the permission of the music industry to participate in the project, the industry is divided into four categories: music sharing platform, author's NFT platform, royalty NFT platform and platform. musical design form. . The rules that users can benefit from vary depending on the plan and the different types of policies, rich policies and more complex law enforcement.

Here is a brief description of some of the benefits.

The right to privacy refers to the rights that a person hears, derives from, uses and recreates work, but generally does not make it public or apply for non-profit purposes. The music we listen to daily on our music platform gives users the right to privacy.

NFT's change policy means that NFT holders can switch to NFTs, and when NFTs turn to music operations, NFT holders do not have the inheritance to operate on their own, only notices.

The levy benefits the law regarding the right to earn money from labor income, and the complexity of the chain and the chain are not completely different. In the off-chain world, royalties are defined as the assurance of two types of membership rights (established rights and fundamental rights) and for six types of use, which are protected by law, and the royalties are paid in chain. world. There is no single model defined by the employment contract. Opulous includes off-channel royalties, including online and offline revenue, Royal includes worthless channels but online advertising only, and Rocki includes channel-only revenue. In addition, these operations do not have intellectual property rights and users can share the costs.

Commercial use policy refers to the policy of applying business functions such as design and performance, and it is also divided into chain on / off situations. The nature of the off-chain is protected by law, and only a few Eulerbitz NFT Genesis have commercialization rights, which is rare, and other NFTs only apply to the chain so that the business can make money from the middle. chain generation. the. The process is determined by the definition of the project contract.

In addition to the different policies associated with musical instruments, each project has its own symbolic economic model and other revenue models, creating its own characteristics.

music sharing platform

Listen to us

Audius is the platform with the largest number of users and the highest market value in the market, but it is also the platform with the smallest number of products and it is still the only non-participating platform with NFTs. The platform wants to create an open music sharing ecosystem, all music can be listened to for free and an open API from third party music calling tools. With rich music and minimal number of users, it amassed 200,000 active users. . The platform is currently inoperable, and plans are underway to pay branded fan and developer tokens for future marketing.

In 2018 the project was developed and a free form was published, in 2019 it was in the final phase and in October 2020 the mainnet and the $ AUDIO token were launched.

key mechanism

All Audius functions, such as listening to music, uploading and downloading can be used for free (only the author verifies the download when downloading), no ads on the platform and the platform seems to take support all users. . It provides excellent user experience.

User data is easily stored on the ETH or Solana channel, and music and image files are stored in a repository created by IPFS technology to allow complete and irreplaceable classification. The nodes of a decentralized storage network are authorized to be operated and managed by the token holder who vouches for the $ AUDIO token.

By holding the $ AUDIO token, users can access some special services including newsletter website, Discord authentication policy, display their NFTs on other platforms on their website's official account, etc. , which can strengthen the user relationship for some reason. , but extremely popular with under 300 Discord rated users.

Since its inception, it has worked hard to build a community, but does not yet have a successful business plan. The platform prompts participants to share content, but the motivation is minimal. For example, the 5 best songs and 5 playlists are rewarded every week. Each designer can receive an AUDIO gift of $ 100, or approximately $ 150. Developers still have no way of making a lot of money.

Going forward, Audius plans to raise funds from its actors by paying enthusiastic movie subscriptions and tokens. Paid subscriptions are exchanged for Stabilitycoins and are charged for any media streaming, while the playing speed of different songs can be set by the creator himself. Fan Tokens are provided by artists who sign up for $ AUDIO, and tokens allow artists to customize their distribution and use, including opening special themes. . Audius will also follow the merger of the art scene, introducing private tokens as well as other platforms such as Roll and Rally, creating an open art platform.

The concept of operation and the location of the platform itself is unique with a strong decentralization of colors. The group announced in March 2020 that it would provide 90% of the platform's proceeds to developers and 10% to resellers, and Audius would not receive any funding (below).

The Audius project will be responsible for funding the Audius Foundation and will raise AUDIO of $ 178 million to make the project work. The Audius ecosystem is one of the software included in it, allowing each Audius team / user to develop further software. The Audius team has not yet expanded its operations, currently has a team of around twenty people, and professional users and caregivers have been referred to the community with more energy. As a result, the project part has opened a file interface and anyone can contact the project file and create their own application.

business information

Audius now has approximately 200,000 regular users and approximately 25,000 account holders, which represents approximately 15% of regular users. Race on the crypto cycle.

The unification of everyday life is due to the arrival of the large group V in the music industry. At the start of the project, our electrical engineers deadmau5, 3LAU, and RAC were invited to serve as consultants, and at the start of classification, all eight consultants can receive an average of $ 5 million (approximately $ 1 million). Costing around $ 0.2 at the time, it's an incentive to reach $ 8 million if kept up to date. In return, the platform is also supported, including investment resources, interviews, etc. Additionally, the team continued to invite Big V to solve the "fight to the death" method, and Skrillex, who has the most fans in Odius, entered Odius in this manner, but did not present a unique way to cooperate.

In addition to the big V likes, Audius also likes the creators of the sponsorship which includes: Earn AUDIO $ by creating an Audius account on Twitter or Instagram and posting your tracks. Of course, these revivals are amazing compared to the early university consultants.

Symbolic economy

The role of the $ AUDIO token is to manage node security, platform support, and platform management.

As mentioned earlier, Audius music files are stored on a shared storage device on top of IPFS. Audius expects all vendors to pledge AUDIO $ tokens to qualify for the service. At current prices, the initial contract is approximately $ 300,000 which affects the operating node for the project and the project commits to operating the node. . The merchant alone can rely on another merchant to choose a small amount of $ AUDIO according to the responsibility, and the payment is decided by his personal operator.

In terms of promotions, Audius announces every year an additional 7% off all $ AUDIO tokens for every entrepreneur (including resellers and retailers) and distributes them every week of the channel as a support contract. This means that $ AUDIO is diluted annually unless the user promises it.

In terms of governance, node staff can initiate recommendations and all participants can participate in the vote. Today there are examples of the management of financial assets by community management. Using approximately $ 160,000 in funding from community information, a team was formed to select the participating themes, award prizes to the winners and offer incentives to the participants in words. Going forward, the platform also relies on participants to perform content analysis and content management interventions.

The initial token allocation is as follows, and when a group of consultants and traders are combined, the share is very high, around 77%.

NFT Loyalty Platform

NFT loyalty is all about shaping the channel's future music in the form of NFT, and most of these platforms are mass and distribution events. According to the difference in wealth, it is divided into chain income and chain income. Off-chain income is relative income, still protected by law, the deepest part of which extends. frontier; The income of the channel depends on the income of the channel. The above business model revenue is a new revenue system defined by smart contracts, and the accounting and distribution system is crypto-native. Interestingly, our three Royalty NFT projects discussed in this article all have a history of music.

rich

Opulous converts off-channel royalty revenue from music productions into security offered as DTV and sold to a sole proprietor. Opulous will also raise funds for musicians from participation royalties in the future, which will turn into NFT-based music lending in the future.

key mechanism

The mainstay of the Opulous platform is the advertising and marketing of NFT royalties and the lending of NFT-based assets, and no online transactions. This product is only in its infancy, currently only one NFT version, and the loan has not yet been released.

The only NFT Opulous release in November 2021 includes 50% of the total cost of the music. The special division is that the team formed a company based on the name of the song, replacing 100% of the intellectual and business interests of the members using the rules of making music for wisdom, then the safety issue in the Republic. Name of this company. The budget limit is $ 500,000. Investors buy fiat currency and share 50% of the total future value, but neither the heir nor the stock brokers use the music. The parties then allocate the NFT income and future income of each investor according to their capital.

Since the chain stakes were together, splitting the stakes was also prohibited. First, the royalty income could not be determined on time, and the party plans to generate income by the fourth quarter of 2021, divide the income by quarter and send it to the Algo wallet of users of the l 'USDC. Second, since these NFTs are safe in nature and regulated by the SEC, they cannot be traded for the first 12 months.

Lil Pump, the first NFT artist to join the Project Party, is a famous Post 00 rapper with 7.2 million monthly listeners on Spotify. Sales were also successful, raising the limit to $ 500,000 in two hours.

In addition to Royalty NFT, Opulous points out that it is a Challenge lending platform that allows musicians to use their income to invest in the production and export of music for up to 12 months. Users can also take advantage of custom platform tokens or other musical NFTs.

Symbolic economy

Opulous has its own $ OPUL platform token. According to the white paper, all future platform transactions will be carried out by $ OPUL, and $ OPUL will also be used as a lending tool.

At this point, Opulous's royalty income is still drawn from traditional spending. Traders will be able to protect and restrict fiat currency offline. However, proof of eligibility has been provided by the NFT and the channel's future distribution of income has been completed. In the future, the big question is how to improve the transition to the chain and combine the chain token trade.

Help and fundraise

CEO Lee Parsons is the founder of Ditto Music, a music company that works with more than 50,000 independent musicians.

Opulous raised $ 1.5 million on February 21.

Help and fundraise

The main members of the group come from the music industry, including artists, record companies, executives, lawyers and accountants. CEO Bjorn Niclas worked in the music industry for 20 years, researching his own black Spundae repertoire, and then discovered several music apps including the Web2 Vidiam app, Grooveo, and Chuon Web3.

The team did not disclose any financial information.

sonnermusic creation platform

Eulerbites

Eulerbeats is a music development platform that allows users to use the process to create music NFTs on a channel or mix multiple NFTs into new music NFTs and trade them on the platform or secondary business. Some NFT holders said at the initial stage of the platform that they had full rights to use the company, while others were only allowed to use privacy and channel. Eulerbeats presents the full picture of the music industry by providing on-chain music creation stages and planning revenue streams based on industry and usage.

key mechanism

Eulearbeats now offers three NFT series: Genesis, Enigma and Futura.

The first two series are two parts of the previous version of the implementation of the platform's limited edition music, using algorithmic algorithms, significant differences in image-specific music content and price. As the first NFT to be released on the platform, the first NFT has a high collection rate, and the owner prefers to use all of the commercial rights (which is minimal for the NFT platform) and the price of the future publication.

Genesis and Enigma each have 27 original NFTs, with their data and scripts collected by the team on the ETH chain, stored permanently, and can be called up as needed. Each First NFT has different graphics and music, but the algorithm is based on Euler's responsibility, and the name Eulerbeats is a gift to this great figure as well. At the same time, the original NFT can provide copier printing token, and in Genesis and Enigma, the maximum printing token limits for each original NFT are 119 and 160, respectively. that each original NFT and its 119 or 160 copies have been successfully merged. Currently, Opensea's original NFT price is 85-666 ETH, with a number still being ordered.

The revenues when each print token is provided by the user are as follows. Of this amount, 8% is due by holders of First NFT.

The “stop burning” in the table is a pool of money created to create the printing token liquidity market. Once each print token is issued, the corresponding value is placed in the engraving reserve. If the user throws away their printing token, the printing token is reduced by 1 in the market and users can get similar benefits in the burning reserve. . Of course, users can also redeem tokens in the second store.

The purchase and redemption of the printing token is based on the design of the bond curve. In other words, the more products there are on the market, the higher the price. The biggest difference between Genesis and Enigma is also the formation of the relationship curve. The starting price of the Genesis Print Token is high, and the cost of the final Print Token for each combination will be over 700 ETH. Enigma's Print Token Token, which is difficult to print in its entirety, has a low starting price and hits its strike limit before the price curve increases. The team hopes to use this design to encourage people to write the full Enigma collection.

In addition to the different prices for copies, the original NFTs from Genesis and Enigma also sell differently. The first is minted by the user and costs 0.271 ETH, so it cannot be verified before production, the second will be announced by the Openea team once the coinage is complete to complete the operation, find the price and users will be able to hear it. Music before purchase. The group only sold 25 NFT Enigma Origianl, a giveaway for future platform-related DAO organizations and a reserve for the group for future testing.

Genesis and Enigma are close to the group's first attempt to explore music design and exchange rates, and recently announced the Futura series marking the start of musical success and revenue.

At the heart of Futura is a mix of music that can create countless new NFTs. The platform initially sells 4040 Mixpass NFT as a ticket entry, and each NFT Mixpass can be switched to 2 NFT Mixes containing pictures and music randomly. keeb. Each NFT mix is ​​unique and defined by 30 functions, with the rare NFT mix appearing in the usual blind play.

Mixpass NFT has been sold. Users can buy Mix NFT on the middle market. The current floor value is 0.045ETH. In addition, Futura's NFT is based on Polygon, so more will need cheaper installations.

In addition to the built-in NFTs, the main theme of the integration is the NFT owners' home-made platform. These NFTs use the same hardware as the built-in NFTs, but some devices are selected and defined by the platform. The agent is more sexual. In the future, users will be able to mix and record using Mix NFT and Master NFT to create an unlimited number of new NFTs. However, no Master NFT or Mix functionality has been released. I don't know what the mixture is for. Functions include items and functions that users can perform.

After the merger, the planning team will also release a financial achievement. The group further breaks down the music in Music Clips NFT and invites artists to create new Clips products. These key points give users more freedom in the future, and the royalty income is also based on this clip. Secondary is used to calculate the classification.

Master NFT and Mix NFT holders have no commercial rights to use their music to operate in the real world, but only if a business ecosystem can be developed, such as debt repayment. Eulerbeats platform, the owners of NFT still generate income from the royalties on the channel. can be high. This research on Eulerbitz gives us a different idea of ​​how the music industry works, and we look forward to its further development.

Symbolic economy

Eulerbits was launched at the start of the year, but has not yet had a token or exchange campaign using ETH, the platform has benefited from the first NFT sales of Genesis and Enigma, and has received a 2% commission on the creation of copies.

However, the platform launched the Genesis and Enigma contract mining pilot services in May of last year, and users can contract a pair of copies based on the original NFT from Genesis and Enigma with the same number (the original NFT cannot be guaranteed). Purchase of the platform All costs are distributed among the participants.

business information

Currently, Genesis manufactures approximately 1,000 copies and has approximately 500 addresses, while Enigma manufactures approximately 300 units and has approximately 110 addresses. 5,423 Futura Series NFT Mixes were produced, with a design increase of 67%.

Help and fundraise

The Eulerbeats group, treum.io, was created in 2017 and develops the NFT platform and has produced several NFT applications. Retrieved from Consensys on October 21. No financial information currently available.

Studio Mélos

The success of Melos Studio is similar to that of Eulerbeats, and it is also a music design platform that supports intermediate design. The main difference is that it is not created by an algorithm, a strong Challenge and a strong democratic community.

The product market is still in its infancy and its only online business now is listening and buying NFT music. You can listen to all free music, NFT players have no special rights such as rules of intelligence, only rules of personal use and modification, and small volume equipment. The descriptions below are based on Free Kits and Medium plans.

key mechanism

Melos' music generation mechanism is similar to that of Eulerbitz, but not algorithmically generated. Users can create a New Forge (NFT) by uploading music, and other users can create secondary designs based on it. Or place two NFTs in the new Jam Forge (NFT).

Each NFT has a similar MusicBlock which records DNA and the generation of music. DNA contains information such as author and trackable music. Gen how many generations. For example, the music NFTs downloaded by the user are Gen0, the NFTs generated during fine-tuning are Gen1, the NFTs regenerated when Gen1 is Gen2, and so on.

This approach is similar to Eulerbeats' conception of dividing music into clips, allowing users to create new music by combining and mixing, and encouraging users to rely on musical instruments for secondary production. . At the same time, Melos completes the process of identifying the rules used by block tracking.

In addition, Melos has prepared a variety of situations in which NFT music has been used in the industry, but it is only simple and without detailed descriptions. Music NFT's applications typically include mining, lending, lending (it doesn't specify what tenants can do with NFT), owning NFT to get platform token incentives, and holding participations in tournaments (Jam Forge mode only). . In the design of Melos, the NFT music has a very solid material.

Symbolic economy

Melos has its own platform for managing tokens, $ Melos, and recently extended border support by announcing Wave Points, similar to user themes.

The main role of the management of $ Melos tokens is promotion and management.

In terms of support, users can support tokens for various platform activities including Music NFT staking, Music NFT trading, and Jam Forge NFT creation. All of these incentives come from the foundation that supports the pool. In addition to the boost token, users of the above activities will also receive NFT airdrops launched by the platform. However, the platform has yet to come up with specific plans for the sponsorship.

At the administration level, if you hold $ 1000 Melos, you become a member of DAO and join the management of the platform. The governing body includes 1) the design team, for example voting to determine whether to develop the new Jam Forge NFT, 2) the governing body, for example whether to change support policies of the platform. , and 3) group development, for example whether to buy offline assets. . There are different crossover procedures for different types of decisions.

Melos announced a social media-powered wave point boosting campaign in December, and the important point is that users can get a support platform through activity support rather than a direct investment in assets.

There are many ways to earn Wave Points, and it is recommended that you support user activities in a variety of ways including 1) completing recommendations such as supporting musicians. purchase. NFT works on the platform 3) Designing content like music creation with 10 likes or more 4) Interacting relationships like fans including 10 musicians or more 5) Platform services like platform bug detection

The link between wave content and Marketplace Token is that Inspired Content can be redeemed for NFT Music or used as a Release Certificate to expand the user base. Plus, you can use it for things like tip musicians, get tickets to events, and more.

Support design for Melos is a challenge and users of various business and platform applications will be included in the support team. This will undoubtedly increase the user base involved in the platform business, but it will also raise the issue of machine brushing.

Help and fundraise

The team is from Taiwan and one of the producers is Yalu Lin. Prior to finding Melos, he was the executive director of another music copyright token platform, Machi X.

Melos was invested by Binance in 2021, but the investment was not disclosed.

Points of comparison

Audius music sharing platform is a project which provides the user experience closest to the Web2 streaming platform, and the biggest difference between Web2 is that the part of the project eliminates the central role and expands the release of all platform resources and information. Manage platform investments and policies. In order to realize the dual market between consumers and artists, Audius has spent a lot of energy to keep introducing music products, but now 200,000 active users are still not strong compared to Spotify, and the payment model will be difficult. jump over a short period of time. Going forward, the introduction of Fan Tokens could open up a whole new world by turning fans into direct investment.

Listed NFTs have the shortest market share, similar to the reasons for selling products in the music industry, and the market value of NFTs is often affected by the benefit of the community. Although there is income for musicians, it is difficult to say that they can solve the problems that arise in the music industry. The popularity of the NFT is due to the growing popularity of musicians, and it is also necessary to count on the fame. from third-party companies. Because these programs have short connections and simple reasons, they can see a return on investment in the short term, and there is a need to compare support models. The personal development of Oneof.

The Loyalty NFT platform is dedicated to bringing the benefits of the traditional music industry to the channels, and the logic is complex, especially when Opulous and Royal distribute the income from the channels. This could lead to legal issues in the real world. . Additionally, off-chain royalties are also based on a variety of existing third-party platforms and have not changed the industry's business model. However, the king of the NFT has become aware of the crowd of music distributors, and the brokerage firm's DAO will emerge in the near future. Additionally, Loki Chain cultivation is sparse, and the logic is very simple. The closed loop of winning and sharing money can be done right on the chain, but the prerequisites for success can be very difficult.

The music design platform has a bigger vision and wants to build a full channel business. Eulerbeats and Melos both encourage users to use the intermediate design resource platform and share costs based on the heritage and social use of the music. This equates to the expansion of the industry using the chain's musical instruments, thus highlighting the potential of the music industry ecology. sex chain. Eulerbeats' NFT Generative Music is designed with different algorithms in place for traditional music production. The platform can encourage users to create new musical designs. .