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NFT music has teething problems
The format, however benefits artists way more than conventional music
Now, teething problems have been met with a solution
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NFT music enthusiast? Then here is something you might be interested in. There is now an NFT music streaming player.
YellowHeart is a Web3 marketplace for music. Ticketing, and memberships. The site accepts both crypto and credit card payments. In 2021, YellowHeart released the first-ever NFT album and tickets with Kings of Leon. Since then, the company has worked with Maroon 5, Julian Lennon, ZHU, and Jerry Garcia, among others.
Now, the platform has introduced the first-ever NFT music streaming player. The hope is that it will drive mass adoption of the new music format.
Many artists have already released NFT tunes. This way, it puts nearly all of the profit back in their pockets. However, some fans have been skeptical about NFT music. This is because they can’t stream consecutive NFT songs and albums. But, on services like Spotify and Apple Music, they can do this seamlessly.
By releasing an NFT music streaming player, YellowHeart say they are trying to level up the playing field. With it, fans can stream all of their NFT tunes in a single player. This is opposed to opening separate songs within an app.
Josh Katz is the founder and CEO of YellowHeart. “When I started working on YellowHeart before the pandemic, while we were building our product on the backend, my primary focus was educating artists and industry leaders on how transformative NFT music could be for the larger space. Since making major headway in 2021 and releasing the first major NFT album and tickets, one of the biggest bottlenecks we’ve faced is making NFT content easily digestible for fans. Bringing a Web3-friendly streaming player into the space puts this roadblock to bed. Our hope is that it will continue to drive mass adoption so we’re able to marry the best of old and new music formats with NFTs.”
If fans take up this new streaming service, artists will find it easier to hook fans up with all of the other benefits programmed into NFT music that they can’t get on platforms. This includes concert tickets, vinyl records, and merchandise.
The new NFT streaming product is engineered to prompt mass adoption of the NFT music format.
Yellowheart say that platforms such as Spotify and Apple Music give artists around .003 to .005 cents per stream. But, YellowHeart’s NFT streaming player gives artists most of the profits.
They also say that player can expand beyond music into TV and film content.
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Nicole Buckler has been working as an editor and journalist for over 25 years, writing from Sydney, Melbourne, Taipei, London, and Dublin. She now writes from the Gold Coast in Australia. Nicole first bought Bitcoin in 2013 not really understanding what she was doing. She is an accidental HoDLer. Got a story on the culture side of crypto? Email [email protected]
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