Myx is a ground-breaking new platform that allows musicians to reclaim control over their music distribution.
It bridges the gap between artists and fans as they produce, contribute, and interact on a fresh and fair playing field, thanks to blockchain technology that far outperforms any existing Web3 music platform. Most crucially, Myx permits artists’ earnings to be returned to them.
Myx is now in a soft launch phase, giving artists control over their own music, distribution, and profits, as well as the ability to generate NFTs for tracks and even break down vocals, instrumentals, and beats into their own NFTs. Myx is set to commence streaming in the second quarter of 2022.
With unbounded revenue potential, decentralized streaming on Myx allows artists to make up to three times as much as Spotify from streaming their songs. Artists can release an unlimited number of tracks and collections as a single (1/1) or multiple editions NFTs on Polygon, and have them created and listed for sale on OpenSea, Web3’s most liquid marketplace, instantly and automatically. They can also customize secondary sales royalties so that 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 earn revenue, all owners of that Pods token (“media fractions”) receive the revenue proportional to their Pod ownership. The same goes for NFT sales.
Furthermore, Music NFTs on Myx include proof of authority and a digital signature, and files are encrypted and saved with IPFS, a Web3 file storage system that aids in the fight against piracy.
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.
Head over to https://app.myx.audio/#/ for more information.