New DecentraSound NFT and Web 3 infrastructure will enable listeners to invest in world-class entertainment
DecentraSound will consist of a marketplace to listen to music and offer users a financial benefit
LONDON, ENGLAND, Oct. 18, 2022 /EINPresswire.com/ — DecentraSound plans to change the music industry for artists and fans by enabling listeners to invest in world-class entertainment using a next-generation NFT infrastructure and a Web 3 -solution.
The goal, said DecentraSound co-founder Oliver Hammond, is to accelerate the growth and adoption of blockchain in the entertainment and music industry. “DecentraSound aims to be the next legacy brand to surpass the likes of Spotify, Tidal and their peers, while being the first business of its kind to enter the metaverse.”
Hammond said DecentraSound will consist of a marketplace and a place to listen to music that gives the end user a fun financial benefit. Additionally, with DecentraSound, creators can take back control of their earnings, giving them complete freedom to release what they want, when they want. “Just artists that grow organically with the support of the fans,” Hammond said.
The metaverse and virtual reality technology is estimated to be a valued $824 billion industry by 2030.
Working with Hammond on DecentraSound is musician Ghetts, who in 2021 won a MOBO award, the annual British music award honoring achievement in “music of black origin.”
DecentraSound will launch with a highly anticipated 10,000 Utility Packed Collection of NFTs that will be created for artists and investors alike. The DecentraSound NFT collection is 10,000 uniquely attributed fashionable character collections created on the Ethereum blockchain. The NFTs have been created with more than 480 unique features that have been hand-drawn over months with many details and variations.
The NFTs will be useful in the real world. Hammond said DecentraSound is developing many real-world use cases, including relationships with worldwide music events, hotels in 75 countries and fashion brands.
DecentraSound’s NFTs can also stop middlemen from taking an artist’s money.
As Hammond explained, suppose a musician created a song and listed it on DecentraSound as an NFT, selling ownership to fans for $30,000. The marketplace takes 15 percent, so the artist earns 85 percent, or $25,500. After a month, the fan sells it on to another fan for $40,000. The artists earn $4,000 in royalties. The artist has earned $29,500 from two transactions.
The NFTs enable fans to earn money by owning content that can appreciate with the creator and to invest directly in a creator’s success.
“Like stocks, NFTs and the DecentraSound ecosystem will allow fans to bet on the creator’s potential while enjoying what they pay for in the form of music and a wide variety of utility that can be attached to purchasing that art or music,” said Hammond.
As technology advances and DecentraSound continues to increase its liquidity, the platform will create its own space within the metaverse to which the characters can be exported. At this point, DecentraSound will be more than just a NFT marketplace and spatial audio platform, but also a virtual entertainment company along the lines of Rockstar Games and Grand Theft Auto.
The DecentraSound metaverse will have the highest 3D rendering and computer graphics possible at the time of metaverse development.
“At DecentraSound, we work to build a world where people, not companies, are in full control of their digital identity and content creativity,” Hammond said.
For more information and to gain early access, visit DecentraSound.com.
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