YellowHeart announces the first ever NFT music streaming player
The product has been developed to drive mass adoption of NFT music
YellowHeart, the Web3 ticketing, music and membership marketplace, has announced the release of the first ever NFT music streaming player to drive mass adoption of the new music format. By releasing an NFT music streaming player, YellowHeart levels the playing field tremendously as for the first time fans can stream all NFT music and videos in a single player, instead of opening separate songs in an app.
While hundreds of artists have already released music and videos as NFTs, a barrier to adoption has been the fact that fans can’t stream subsequent NFT songs and albums the way they can on DSPs like Spotify and Apple Music. One of the biggest drivers of NFT music for artists and fans alike has been the fact that it puts the majority of revenue back into the hands of artists, unlike DSPs, which only give artists an average of 0.003 – 0.005 cents per stream . YellowHeart’s NFT music streaming player enables artists to continue to earn a reasonable profit for their work and makes it easier for fans to download and play their favorite audio and video content. The player also has the ability to expand beyond music and to stream gated TV and movie content.
With the new product, artists will be able to offer fans benefits that are proprietary to the NFT format. These include everything from concert tickets, to custom vinyl records, to exclusive merchandise, to immersive visual art, to meet-and-greet opportunities. Releasing NFT music on YellowHeart’s marketplace also gives artists the opportunity to share regular updates with fans about upcoming tour dates, new music releases, giveaway opportunities and more. All these benefits can be combined with NFT music and delivered to fans with a single click, which is not possible with other music formats such as traditional streaming and mp3 since they are not smart contracts (ie NFTs).
“When I started working with YellowHeart before the pandemic, while we were building our product on the backend, my primary focus was to educate artists and industry leaders about how transformative NFT music can be for the larger space,” says Josh Katz, Founder and CEO . by YellowHeart. “Since we made great strides in 2021 and released the first major NFT album and tickets, one of the biggest bottlenecks we’ve faced is making NFT content easily digestible for fans. Bringing a Web3-friendly streamer into in the room puts this roadblock to bed. Our hope is that it will continue to drive mass adoption, allowing us to combine the best of old and new music formats with NFTs.”
Founded in 2017, YellowHeart is the leading Web3 marketplace for ticketing, music and memberships, accepting both crypto and credit card payments. Powered by distributed ledger technology, YellowHeart’s platform was designed to help the larger industry upgrade to the next phase of ticketing, giving control back to artists and fans. YellowHeart is one of the earliest adopters of blockchain tickets and music, having released the first-ever NFT tickets and NFT album with Kings of Leon in 2021. Tao Group Hospitality, MGM Resorts, Maroon 5, Julian Lennon and ZHU are just a few few of the globally recognized artists and brands YellowHeart works with.
