Streaming and NFT platform Myx aims to shake up music distribution with blockchain technology
Artists will be able to Create, Collaborate, Connect and Stream on Myx
Myx is a game-changing new platform that allows artists to take back control of music distribution. Built with blockchain technology that far outstrips any other Web3 music platform out there, it bridges the gap between both artists and fans as they create, collaborate and connect on a new and level playing field. Most importantly, Myx allows earnings to go back to artists.
Myx is currently available and in soft launch phase – allowing artists ownership of their own music, distribution ownership and revenues, create NFTs for tracks, or even break down vocals, instrumentals and beats as their own NFTs. Streaming on Myx is due for launch in the second quarter of 2022.
Decentralised streaming on Myx allows artists to earn up to three times as much as Spotify from streaming their music, with uncapped revenue potential. Artists can release unlimited tracks and collections as single (1/1) or multiple edition NFTs on Polygon and have them instantly and automatically be created and listed for sale on OpenSea, Web3’s most liquid marketplace, and customise secondary sales royalties so fees are earned whenever NFTs are traded in the future.
Artists can collaborate through a revolutionary Myx feature called Pods, which allows fans to invest and earn alongside their favourite artists. It is a tool that allows for multiple owners of music to collaborate and earn together on the economics and governance of that music. For example all tracks in a Pod when streamed on Myx earns revenue, all owners of that Pods token (“media fractions”) receive the revenue proportional to their Pod ownership. The same goes with NFT sales.
Harrison $First, one of over 150 artists already using the platform and its unique Pod feature, and says, “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.”
On top of this, Music NFTs on Myx include proof of authority and digital signature, and files are encrypted using the utmost security and stored with IPFS, a Web3 file storage system that helps fight piracy.
Myx artist Karyuu says, “I’ve been in the industry for a long time, and I’ve never seen an idea like this before. This is finally a fresh upgrade in the industry. It’s clear to me this will be something huge, which finally brings together artists and listeners.”
All this is available in one easy-to-use platform that puts the power back in the hands of artists, rethinks existing revenue streams and reimagines new ones, and encourages real community amongst fans and creators.