DMusic set to streamline music industry with new NFT platform
The platform, powered by the Casper blockchain, will offer musicians greater autonomy over their work and more direct interactions with fans.
Photo credit: D Music
Megalodon, a financial advisory firm, has partnered with CasperLabs, a leading blockchain software vendor for the enterprise market; to jointly launch Dmusic, a non-fungible digital token (NFT) record store. In partnership with Haute Living, Dmusic will create more direct and valuable interactions between musicians and fans to simplify how artists can create and deliver NFTs to their supporters in a compliant manner through their own channels (e.g. websites ).
Dmusic will allow musicians to create and list music NFTs on the Casper network, as well as integrate portfolios and create experiences that enable new revenue models and fan engagement. CasperLabs provides support to organizations that rely on the Casper Network, a scalable enterprise platform that adapts to growing business needs, without compromising security or performance. CasperLabs and Casper Network provide Dmusic with a trusted blockchain for enterprise-level requirements and a scalable infrastructure that fuels Dmusic’s innovation.
The limited edition musical NFTs will be the first assets offered by Dmusic artists.
“At Dmusic, we believe that those who create music and art want innovative and reliable ways to share with the world,” said Kamal Hotchandani, CEO of Haute Living and co-founder of Dmusic. “Leveraging Casper helps us forge stronger connections between artists and fans, and enables new revenue models, including tiered access, one-to-one direct interactions and perhaps be even revenue sharing. We will help creators embrace blockchain technology, so they can fully participate in the commercialization of their work.
Dmusic not only focuses on high-profile artists, but it will also enable independent artists to use NFT technology for fan engagement in a compliant manner; while fans will be able to experience an easy payment process when acquiring their NFTs. Dmusic also provides technology for indirect tax compliance on the sale of NFTs and prioritizes the positive environmental aspects of the digital asset offering.
Thomas Arnould, co-founder of Music and manager of various French artists, said: “As a former manager of several award-winning artists, I think technology, such as NFT, is important for the way artists interact with their fans. At Dmusic, we believe that this technology empowers not only high-profile artists, but also independent artists, as we allow them to build a deeper connection with their fan base through NFTs. In my opinion, the growth in the use of NFTs in the music industry cannot be ignored and will continue to evolve. At Dmusic, we welcome artists who wish to use NFTs for fan engagement in a compliant manner.
CasperLabs offers Dmusic a trusted blockchain platform for high-profile musicians who want to “own their own digital record store” and interact more directly with their fans. Powerful music innovators expect the simple, seamless customer experience that CasperLabs delivers to premium brands and discerning shoppers looking for quick access to exclusive offers and experiences.
“It’s no secret that other music technologies, and streaming in particular, have created more and more distance between artists and their fans, and given musicians less control over their own work” , said Cliff Sarkin, chief operating officer of CasperLabs. “Blockchain is different. At Casper Labs, we believe creators should be in control of their intellectual property. That’s why we’re working with Dmusic to create a blockchain-powered plugin to allow musicians to create and offer their work directly to consumers as NFTs, removing the middleman and putting the power back in the creator. .