Top 5 Crypto Projects Targeting the Music Industry
Music is one of many areas where blockchain technology can be used to store and process data.
The cryptocurrency sphere is well suited for creating streaming music platforms and services, Listen-To-Earn projects, and NFT marketplaces focused on trading music, songs, audio tracks, and copyrights.
We have collected five of the most popular music crypto startups to show you their features and applications in the real world:
Audius
This streaming platform is designed for all musicians, not just those signed to a label. You can create your fan base, publish works, audio recordings, and songs, and receive rewards in project tokens. No need to sign an agreement with a record company.
The service features many famous artists, including Katy Perry, Nas, Jason Derulo, and Skrillex. The application is available in desktop and mobile versions on IOS and Android.
The AUDIO internal token is used to reward artists, provide a decentralized and transparent network, and manage the platform as part of the DAO. AUDIO has a current value of $0.13 and a market cap of $119 million.
AUDIO Tokenomics
Viberate
A professional music platform for monitoring live broadcasts, working with statistical data of artists and musical works. Viberate is an aggregator of music information from all streaming services. Here you can track the characteristics of any artist, streaming statistics, and fan base growth rate. Young producers and managers can use a talent discovery tool that finds promising performers based on statistical data.
They launched a coin on the Ethereum blockchain. The VIB token is used for internal settlements and trading operations and helps subscribe to paid Viberate features. The capitalization of VIB is 12 million. The market value is $0.068.
Viberate platform statistics (viberate.com)
Opulous
The platform is focused on the development of young talents, as well as attracting funding for them. Any retail investor registering on Opulous can pick up a future star and invest in their development. This opportunity is provided through the purchase of MFT (Music Fungible Tokens).
Users can buy MFTs to support the author of music work, trade and sell them, and receive a portion of the artist's income in royalties.
OPUL token holders get a prioritized opportunity to participate in all activities on the platform and can also stake the coin to receive passive income. OPUL is deployed on the Algoland, BSC, and Ethereum blockchains. The current value of the token is $0.05, and the project’s capitalization is $8.5 million.
OPUL Tokenomics (whitepaper)
Rhythm
The project aims to tokenize the music industry by creating a sizeable audio metaverse. It offers a streaming service, NFTs, rewards for users and artists, an investment opportunity, and more than 100 million songs.
The official website also integrates the ability to purchase a token through an internal DEX platform. Most of the products, such as the trading platform, NFT, and mobile application, are still under development.
The RHYTHM token is based on the BSC network. The market capitalization is 1 million, and the token price is $0.00007.
Comparison of Rhythm and other music services (Whitepaper)
ModaDao
The primary vector of the project development is the creation of a large musical ecosystem. ModaDao is building the infrastructure and tools to create music communities, an NFT marketplace, and an innovation lab. The main task is ensuring the music industry's decentralization without sacrificing security and other features.
Staking, voting, and NFT features are still under development. The official website has created a detailed diagram of how the ModaDao infrastructure will work.
The native MODA token has been launched on five networks. The market value is $0.19, capitalization does not exceed 1 million.
How ModaDao Works
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